Steelcase Inc. (NYSE: SCS) announced today its fiscal second‑quarter 2026 results, reporting revenue of $897.1 million, a 5% year‑over‑year increase, and net income of $35.0 million, or $0.29 per share. Adjusted earnings per share rose to $0.45, up 15% from $0.39 in the same quarter last year, while operating income reached $53.1 million and adjusted operating income climbed to $75.3 million. The company’s gross margin stood at 34.4%, reflecting a 10‑basis‑point decline from the prior year due to higher tariff costs and a less favorable business mix.
Segment performance showed the Americas driving growth, with revenue up 8% and orders rising 6% year‑over‑year, while the International segment experienced a 1% decline in orders and a 4% drop in revenue. The Americas contributed $603.6 million in revenue, up 9% organically, and maintained an adjusted operating margin of 6.7%. International revenue fell 1% to $175.4 million, with a 4% decline in the segment’s adjusted operating income, offset by gains in India, China, and the United Kingdom.
Steelcase also reiterated its pending merger with HNI Corporation, announced on August 3, 2025, for a total consideration of approximately $2.2 billion in cash and stock. The transaction includes $7.1 million in merger‑related costs and is expected to close by the end of calendar year 2025. The company declared a quarterly cash dividend of $0.10 per share, payable on or before October 20, 2025, and highlighted ongoing restructuring efforts that added $11.9 million in costs to the quarter.
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