September Trades (SCS, BUY, 9.20-9.20, 10%)

Steelcase (SCS) reported earnings of $0.31 per share on revenue of $854.60 million for the fiscal second quarter ended August 2023. The consensus earnings estimate was $0.198 per share on revenue of 854.6million. The company beat consensus estimates by 56.96% while revenue beat expectations by 3.11%.

The company said it expects third-quarter non-GAAP earnings of $0.23 to $0.27 per share on revenue of $780.0 million to $805.0 million. The current consensus earnings estimate is $0.19 per share on revenue of $820.67 million for the quarter ending November 30, 2023. The company said it expects fiscal 2024 non-GAAP earnings of $0.80 to $0.90 per share. The company's previous guidance was earnings of $0.55 to $0.75 per share and the current consensus earnings estimate is $0.66 per share for the year ending February 29, 2024.

Steelcase, Inc., is engaged in furnishing the work experience in business, education and healthcare environments. It operates within its Americas and EMEA reportable segments plus an “Other” category.