Steelcase Inc. (NYSE: SCS) is a global leader in workplace furniture, interior architecture, and workspace solutions. Specializing in designing environments that enhance productivity and well-being, the company serves various sectors, including corporate, healthcare, education, and retail.

For the first quarter of fiscal 2026, Steelcase reported revenue of $779 million, a 7% increase compared to the prior year, driven largely by a 9% growth in the Americas segment. Adjusted earnings per share (EPS) were $0.20, representing a 25% increase from $0.16 in the previous year. The company’s adjusted operating income rose by $10.8 million year-over-year, totaling $39 million, reflecting improved revenue performance.

Operating margin improved 110 basis points year-over-year, reaching 5%. The gross margin also saw a notable increase, hitting 33.9%, up 170 basis points compared to the prior year. In the Americas, the adjusted operating income margin was reported at 6.7%, which is a 200 basis points increase from the same quarter in the previous year.

Despite these positive indicators, total orders declined by less than 1% compared to the prior year. While the Americas segment exhibited strong growth from large corporate customers, there were declines observed in orders from government and education sectors. Comparatively, the international segment reported a 1% decline in organic revenue.

Looking ahead, Steelcase provided guidance for the second quarter, forecasting revenue between $860 million to $890 million, which indicates an estimated organic growth of up to 4%. Projected adjusted EPS for the second quarter is expected to be in the range of $0.36 to $0.40, compared to an adjusted EPS of $0.39 in the prior year.

The company reported total liquidity of $392 million and total debt of $447 million. Adjusted EBITDA for the trailing four quarters amounted to $266 million, accounting for 8.3% of revenue.

In summary, Steelcase showcased strong revenue growth and margin improvement in the first quarter. However, the company is navigating challenges in specific sectors, particularly education and government, while maintaining positive momentum from large corporate customers, vital for future performance.