STEELCASE INC recently released its 10-Q report, providing a detailed overview of its financial performance and operations. The company, established in 1912 and headquartered in Grand Rapids, Michigan, offers a wide range of furniture and architectural products and services globally. Its portfolio includes furniture systems, seating, storage, desks, benches, tables, work accessories, lighting, and more, marketed under various brands like Steelcase, AMQ, Coalesse, and Designtex.
In the report's Item 2 * Management’s Discussion and Analysis of Financial Condition and Results of Operations, the company disclosed its financial performance for the three and six months ended August 29, 2025, and compared it to the same periods in the prior year. The report segments the company's operations into the Americas and International segments, providing detailed financial data for each.
For the three months ended August 29, 2025, STEELCASE INC reported revenue of $897.1 million, a 5% increase from the prior year, with the Americas and International segments contributing to the growth. The company's operating income for the period was $53.1 million, representing a decrease from the prior year. Additionally, the report highlighted non-GAAP financial measures such as organic revenue growth, adjusted operating income, and adjusted earnings per share, providing a comprehensive view of the company's financial performance.
The report also discussed the company's ongoing business transformation initiative and the development of a new enterprise resource planning ("ERP") system, with approximately $78 million in costs capitalized to other assets as of Q2 2026. Furthermore, the report addressed the company's Agreement and Plan of Merger with HNI Corporation, a transaction expected to close by the end of calendar year 2025, subject to various approvals and conditions.
In Q2 2026, STEELCASE INC recorded net income of $35.0 million and diluted earnings per share of $0.29, reflecting a decrease from the prior year. The company attributed this to various factors, including restructuring costs, merger transaction costs, and gains from the sale of land. The report also provided a breakdown of revenue growth, cost of sales, operating expenses, and effective tax rates for both the Americas and International segments, offering a detailed analysis of the company's financial performance.
Following these announcements, the company's shares moved 1.71%, and are now trading at a price of $16.985. If you want to know more, read the company's complete 10-Q report here.
