Steelcase says its third quarter revenue for Steelcase Inc. up 7 percent earnings up 21.4 percent after strong in the Americas.
The office furniture manufacturer reported sales of $719.4 million for the third quarter ending Nov. 25 and earnings of $22.4 million, ahead of its own estimates.
“Based on the strength of third quarter orders and the highest backlog in more than three years, we expect this momentum to continue in the fourth quarter,” said Steelcase CEO and President James Hackett.
David Sylvester, Steelcase senior vice president and CFO, said the European segment showed growth compared to the second quarter despite the economic uncertainty of the region, saying: “In the face of ongoing uncertainty and mixed performance within that segment, overall sequential revenue growth was relatively consistent with normal seasonality.”