Q1 2025 Steelcase Inc Earnings Call Transcript
Key Points
- Steelcase Inc (SCS) reported strong earnings growth with adjusted earnings per share of $0.16, a 78% increase compared to the previous year.
- The company achieved year-over-year gross margin improvement for the eighth consecutive quarter.
- Steelcase Inc (SCS) saw 8% overall order growth in Q1, with the Americas segment experiencing a 10% increase.
- The company launched several new innovative solutions, including the Ocular View, Campers & Dens, and new collections in collaboration with the Frank Lloyd Wright Foundation.
- Steelcase Inc (SCS) announced a commitment to reach net zero carbon emissions by 2050, positioning itself as a leader in sustainability within the industry.
- Revenue for the first quarter was slightly below the prior year, indicating potential challenges in maintaining consistent sales growth.
- The company consumed $59 million of cash from operating activities in Q1, partly due to higher seasonal disbursements.
- International segment revenue fell short of expectations, despite improvements in gross margins and lower spending.
- Orders from large corporate customers showed a modest decline in Q1 compared to the prior year.
- The company is still in the early to mid stages of achieving its $50 million cost-saving target, with other challenges dampening net improvements in gross margins.
Good morning. My name is Sarah, and I will be your conference operator today. At this time, I would like to welcome everyone to the Steelcase First Quarter Fiscal 2025 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions)
Mr. O'Meara, you may begin your conference.
' -
Thank you, Sarah, and good morning, everyone. Thank you for joining us for the recap of our fiscal -- our first quarter fiscal 2025 financial results.
Here with me today are Sara Armbruster, our President and Chief Executive Officer; and Dave Sylvester, our Senior Vice President and Chief Financial Officer.
Our first quarter earnings release, which crossed the wires earlier today, is accessible on our website. This conference call is being webcast, and this webcast is a copyrighted production of Steelcase Inc. A replay of this webcast
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
