Steelcase (SCS) Stock: Why It Fell Over 10% Today

By Amit Chowdhry ● Sep 22, 2022
  • The stock price of Steelcase (SCS) fell by over 10% intraday today. This is why.

The stock price of Steelcase (SCS) fell by over 10% intraday today. 

Why: Q2 2023 results

Results: Steelcase reported a Q2 EPS of $0.21, which was $0.08 higher than analyst estimates of $0.13. And the revenue for the quarter was $863.3 million compared to the consensus estimate of $887.37 million.

Guidance: Steelcase estimates a Q3 2023 EPS of $0.17-$0.21, compared to the consensus of $0.23. And Steelcase estimates  Q3 2023 revenue of $825 million to $850 million, compared to the consensus of $857 million.