Recap: Steelcase Q3 Earnings

Steelcase SCS reported its Q3 earnings results on Thursday, December 16, 2021 at 04:05 PM.

Here's what investors need to know about the announcement.

Steelcase missed estimated earnings by 11.11%, reporting an EPS of $0.08 versus an estimate of $0.09, which surprised analysts.

Revenue was up $120,700,000.00 from the same period last year.

Last quarter the company missed on EPS by $0.03, which was followed by a 4.87% drop in the share price the next day.

Here's a look at Steelcase's past performance:

Quarter	Q2 2022	Q1 2022	Q4 2021	Q3 2021
EPS Estimate	0.24	-0.31	-0.01	0.03
EPS Actual	0.21	-0.24	0.06	0.08
Revenue Estimate	763.62M	554.87M	650.40M	628.80M
Revenue Actual	724.80M	556.60M	677.10M	617.50M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Steelcase management provided guidance for their next quarter, expecting earnings between $0.07 and $0.11 per share for the nextquarter.

This represents a 12.5% in quarter-over-quarter growth for Steelcase, a bullish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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