Steelcase Inc. (SCS) to Report Q3 Earnings: What's in the Offing?
Steelcase Inc. SCS is set to report its third-quarter fiscal 2024 results on Dec 20, before the bell. The company posted an earnings surprise of 82.4% in the last reported quarter.
Expectations This Time Around
The consensus estimate for Steelcase’s revenues in the to-be-reported quarter is pegged at $793.1 million, indicating a 4.1% decrease from the year-ago quarter’s reported figure. The top line is expected to have been negatively impacted by lower orders and volumes in the quarter.
The bottom line is expected to have been affected by an increase in operating expenses. The consensus mark for the bottom line stands at 18 cents per share, suggesting a 10% year-over-year decline.
Steelcase Inc. Price and EPS Surprise
Steelcase Inc. price-eps-surprise | Steelcase Inc. Quote
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Steelcase this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Steelcase has an Earnings ESP of 0.00% and a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Earnings Snapshots
The Interpublic Group of Companies, Inc. IPG posted third-quarter 2023 results, wherein both earnings and revenues missed the Zacks Consensus Estimate.
IPG’s adjusted earnings were 70 cents per share, which lagged the consensus estimate by 6.7%. The bottom line, however, climbed 11.1% on a year-over-year basis.
Net revenues of $2.31 billion fell short of the consensus estimate by 3.3%. In the year-ago quarter, IPG’s net revenues were $2.3 billion. Total revenues of $2.68 billion increased 1.5% year over year.
Equifax Inc. EFX reported lower-than-expected third-quarter 2023 results. Adjusted earnings (excluding 45 cents from non-recurring items) were $1.76 per share, which missed the Zacks Consensus Estimate by 1.1%. Yet, the metric rose 1.7% from the year-ago figure.
EFX’s total revenues of $1.32 billion missed the consensus estimate by 0.7%. Nonetheless, the figure gained 6% from the year-ago figure on a reported basis and 6.5% on a local-currency basis.
Fiserv, Inc. FI reported impressive third-quarter 2023 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Adjusted earnings per share of $1.96 exceeded the consensus mark by 1% and increased 20% year over year. Adjusted revenues of $4.62 billion surpassed the consensus estimate by 0.53% and jumped 8.2% year over year.
FI’s organic revenue growth was 12% in the quarter. This was driven by 20% and 6% growth in the Acceptance and Payments segments, respectively.
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Interpublic Group of Companies, Inc. (The) (IPG) : Free Stock Analysis Report
Equifax, Inc. (EFX) : Free Stock Analysis Report
Steelcase Inc. (SCS) : Free Stock Analysis Report
Fiserv, Inc. (FI) : Free Stock Analysis Report
