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Steelcase Inc. reported its latest earnings with a revenue of $855.8 million and a net income of $63.1 million, or $0.53 per share. The company also reported adjusted earnings per share of $0.39. Operating income increased by $49 million, while adjusted operating income rose by $15 million. Gross margin improved by 130 basis points. Despite missing revenue estimates, Steelcase beat on EPS. CEO Sara Armbruster noted that the business continued to improve, with adjusted earnings growing 26% and a 3% order growth in the Americas. The company expects order patterns from its largest corporate customers to return to growth in the second half of the year. Steelcase shares fell 10% after hours.
$LEN | Post Market: -2% | Lennar Q3 2024 Earnings Report: EPS up 10% to $4.26, Revenue $9.4B. New Orders 20,587 homes (+5%), Deliveries 21,516 homes (+16%). 👉 Business Highlights: ➡️ Net earnings rose by 5% to $1.2B, with EPS up 10% to $4.26. ➡️ Total revenues increased to… https://t.co/GdmhnlxI0t
$LEN Earnings: - Net earnings per diluted share increased 10% to $4.26 - Net earnings increased 5% to $1.2 billion - New orders increased 5% to 20,587 homes - Backlog of 16,944 homes with a dollar value of $7.7 billion - Deliveries increased 16% to 21,516 homes - Total revenues… https://t.co/kbyJdLnHVM
Large public builders stay winning $LEN Lennar reports Q3 EPS $4.26 vs FactSet $3.64 [18 est, $3.58-3.82] Revenue $9.42B vs FactSet $9.14B [13 est, $8.74-9.50B]
