The following is a summary of the Steelcase Inc. (SCS) Q1 2025 Earnings Call Transcript:

Financial Performance:

• Steelcase Inc. reported a Q1 FY 2025 revenue of $727 million.

• Adjusted earnings per share of $0.16, which was a 78% increase compared to last year.

• They experienced strong earnings growth despite a slight decrease in revenue compared to the previous year.

• Gross margin improvement was sustained over eight consecutive quarters, mainly driven by pricing benefits and operational efficiencies.

• International segments showed strong performance with a $7 million improvement compared to the previous year.

Business Progress:

• Continued focus on leading the transformation of the workplace and increasing market share.

• Introduced new products like Ocular View and Campers & Dens to enhance hybrid work setups and privacy in workplaces.

• Showcased innovations at NeoCon to foster better connections and increase privacy through designs.

• Announced a commitment to reach net zero by 2050, being the first in the industry with a detailed transition plan.

Opportunities:

• Expansion into new customer and market segments with innovative products like Ocular View, co-developed with Logitech, and Campers & Dens.

• Leveraging the strong growth in orders, particularly from large companies, to drive improvements across all customer segments, including notable growth in the educational sector.

Risks:

• Growth in AI services and transformational workplace solutions will be gradual as the market adapacers to the demand.

More details: Steelcase IR

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