Why Steelcase (SCS) Stock Is Trading Up Today

What Happened?

Shares of office furniture manufacturer Steelcase (NYSE:SCS) jumped 13% in the pre-market session after the company reported an impressive fourth quarter 2024 results which blew past analysts' EPS expectations, while sales were in line. 

What stood out was a big 12% jump in new orders in the Americas region, which management attributed to broad-based demand from large corporate and government clients. 

Adding to the positive aspect, revenue and EPS guidance for the next quarter outperformed Wall Street's estimates. Steelcase guided for 5–9% organic revenue growth, indicating confidence in backlog conversion. 

Zooming out, we think this was a good quarter with some key areas of upside.

The shares closed the day at $11.29, up 6.5% from previous close.

Is now the time to buy Steelcase? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Steelcase’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. Moves this big are rare for Steelcase and indicate this news significantly impacted the market’s perception of the business.

Steelcase is down 5.1% since the beginning of the year, and at $11.06 per share, it is trading 23.7% below its 52-week high of $14.49 from July 2024. Investors who bought $1,000 worth of Steelcase’s shares 5 years ago would now be looking at an investment worth $1,038.

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.