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Steelcase Inc. stock price
Steelcase Inc. latest news:
Steelcase shares rise on earnings beat
Steelcase Inc. shares rose in the extended session Monday after the office furniture company topped Wall Street forecasts for the quarter. Steelcase shares rose 5.9% to $15.25 after hours. The company reported second-quarter net income of $36.9 million, or 31 cents a share, compared to $38.2 million, or 31 cents a share, in the year-ago period. Revenue rose to $775.6 million from $758 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 23 cents a share on revenue of $757.4 million. For the third quarter, Steelcase estimates earnings of 21 cents to 25 cents a share on increased operating expenses with revenue of $785 million to $810 million. Analysts expect earnings of 28 cents a share on revenue of $798.7 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.