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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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<ul><li>We are revising our EPS and revenue estimates following Steelcase’s 2QFY25 earnings release and investor call. See our update note for a summary of the quarter (1).</li><li>Our new 3QFY25 revenue estimate of $799 million and adjusted EPS estimate of $0.22 are both near the midpoints of management’s current guidance and are largely in line with our prior estimates (our new revenue estimate is slightly lower than our prior 3QFY25 estimate and we are lowering our adjusted EPS estimate by $0.02 accordingly).</li><li>Our FY25 adjusted EPS of $0.97 is unchanged and is at the higher end of management’s range of $0.85-1.00. </li></ul>

We are revising our EPS and revenue estimates following Steelcase’s 2QFY25 earnings release and investor call. See our update note for a summary of the quarter (1).Our new 3QFY25 revenue estimate of $799 million and adjusted EPS estimate of $0.22 are both near the midpoints of management’s current guidance and are largely in line with our prior estimates (our new revenue estimate is slightly lower than our prior 3QFY25 estimate and we are lowering our adjusted EPS estimate by $0.02 accordingly).Our FY25 adjusted EPS of $0.97 is unchanged and is at the higher end of management’s range of $0.85-1.00. 

Steelcase, Inc. - Updating EPS and Revenue Estimates on Margin Strength

Steelcase Inc Cl A

Steelcase, Inc. - Updating EPS and Revenue Estimates on Margin Strength