Steelcase sees Q1 EPS 8c-12c, consensus 10c

Sees Q1 revenue $715M-$740M, consensus $741.23M. The company said, “At the end of the fourth quarter, the company’s backlog of customer orders was approximately $625 million, which was 8 percent lower than the prior year. Orders through the first three weeks of the first quarter of fiscal 2025 grew 10 percent compared to the prior year. As a result, the company expects first quarter fiscal 2025 revenue to be in the range of $715 to $740 million. The company reported revenue of $751.9 million in the first quarter of fiscal 2024. The projected revenue range translates to a decline of 2 to 5 percent compared to the prior year, or approximately flat to a decline of 3 percent on an organic basis. The company expects to report earnings per share of between $0.05 to $0.09 for the first quarter of fiscal 2025 and adjusted earnings per share of between $0.08 to $0.12. The company reported earnings per share of $0.01 and adjusted earnings per share of $0.09 in the first quarter of fiscal 2024.”