Steelcase Beats Q1 EPS & Revenue Estimates 
<p><a href='https://financialmodelingprep.com/financial-summary/SCS'>Steelcase (NYSE:SCS)</a> released its Q1 earnings report yesterday, surpassing expectations. The company reported an EPS of $0.09, above the Street estimate of $0.01. Revenue also exceeded expectations, growing 2% year-over-year to $751.9 million, compared to the Street estimate of $719.23 million.</p>
<p>The gross margin for the quarter was 31.2%, showing a significant increase of 530 basis points compared to the previous year. This growth was driven by favorable pricing and operational efficiencies.</p>
<p>Looking ahead to Q2/24, Steelcase anticipates an EPS range of $0.19 to $0.23, compared to the Street estimate of $0.21. The company expects revenue in the range of $815 million to $840 million, compared to the Street estimate of $841 million.</p>
<p>CEO Sara Armbruster expressed optimism about the company's performance, stating that they are on track to achieve their fiscal 2024 financial targets, partly due to better-than-expected results from their large corporate customers.</p>

NYSE:SCS