Steelcase Falls 10%+ After Hours on Fiscal Q2 Revenue Miss

SCS fell 10.6% to $12.61 shortly before 4:30 p.m. ET after the company said revenues hit $855.8 million in the three months ended Aug. 23. That trailed the $864.2 million that analysts had reportedly expected.

Still, Steelcase reported non-GAAP earnings of $0.39 per share, beating the $0.37 that analysts' consensus had reportedly called for.

"Our business continued to improve this quarter as our adjusted earnings grew 26% and we drove 3% order growth in the Americas," President and CEO Sara Armbruster said in a statement releasing the results. "Our education business had especially strong results this quarter, which reflected the benefits of our strategy to diversify the customers and markets we serve."

Meanwhile, Steelcase guided fiscal Q3 adjusted EPS to $0.21-$0.25 on $785 million-$810 million of revenues.

CFO Dave Sylester said that based the Q3 forecast and first-half results, "we continue to have confidence of potentially achieving the higher end of the range of our fiscal 2025 target for adjusted earnings per share of between $0.85 to $1."