After missing its own top-line estimates in the first quarter of the fiscal year, office furnishings designer and manufacturer Steelcase (NYSE: SCS) turned in an improved performance in Q2, and in the third quarter, it surprised shareholders by handily exceeding management's previous guidance. Steelcase released fiscal third-quarter 2020 results on Tuesday after the markets closed, and on Wednesday, the company suddenly seems less of a value play, as investors have bid up shares by 18% at midday. As we review Steelcase's impressive results below, note that all comparative numbers are presented against the prior-year quarter.
Data source: Steelcase.
Image source: Steelcase.