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13.06.2019 18:32:00

What to Expect When Steelcase Reports Earnings

Global office environments manufacturer Steelcase (NYSE: SCS) reports on the first quarter of its fiscal 2020 year on June 19. The corporation is coming off a successful fourth quarter of 2019, capping a year in which revenue improved by 13% and operating income rose 5% against the prior year. Shares of Steelcase have been volatile year to date, but have managed to climb 16% since Jan. 1. Let's briefly look at what investors should expect when Steelcase issues its report on Wednesday after the close of trading.In its fiscal fourth-quarter 2019 earnings filing, Steelcase's management provided top- and bottom-line guidance for revenue and earnings per share. The company has advised investors to expect revenue to land between $830 million and $855 million. At the midpoint of this range, the company will achieve revenue expansion of close to 12%. After adjusting for the effect of acquisitions and foreign currency translation, the revenue projection equals organic growth of 7% to 10%.As for diluted earnings per share (EPS), management is projecting a range of $0.16-$0.20. At the midpoint, earnings will notch a solid increase of 29% over the prior-year quarter's diluted EPS of $0.14.Continue reading
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