Steelcase has reported second quarter revenue of $819-million, and organic revenue growth over the prior year was 7% after adjustments.
All segments reported organic revenue growth, with 17% growth in EMEA, 6% growth in the Americas and 5% growth in the Other category. The strong growth in EMEA in the current quarter compares to an organic revenue decline in the prior year, which included a number of project orders with extended shipment dates and extended lead times associated with manufacturing disruptions.
“Our adjusted operating margin reached a new 15 year high and was led by the Americas, which posted a margin of 15% in the second quarter,” says Jim Keane, president and CEO.
“This was a remarkable quarter for the Americas, as the full benefits of the long-term investments we made in the past to optimise our footprint combined with great performance by our people in sales, marketing and operations to deliver more value for our customers and capture more value for our shareholders.”