Steelcase Inc. reported first-quarter fiscal 2026 revenue of $779.0 million, a 7 percent increase compared to the prior year, with organic growth also at 7 percent. Adjusted earnings per share rose by 25 percent to $0.20, up from $0.16 in the prior year, driven by strong performance from large corporate, government, and healthcare customers in the Americas.
Despite the revenue growth, Americas orders declined by 1 percent, primarily due to decreases from government and education customers, offsetting growth from large corporate clients. The International segment experienced a 1 percent organic revenue decline, largely due to weakness in Germany and France.
In response to market conditions, Steelcase initiated restructuring actions in the Americas, targeting approximately $20 million in annualized spending reductions through headcount adjustments. The company also began procedures for further cost reductions in Europe to improve profitability in its International segment, which reported a $3.5 million decline in adjusted operating income.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.