Steelcase A

Middle Coast Investing’s Q3 2025 letter states Steelcase agreed to merge with HNI, with Steelcase shareholders owning 36% of the combined company. The deal includes $7.20 per share in cash from HNI as part of the exchange. Middle Coast says the merger makes strategic sense, that Steelcase did not shop itself widely, and it will retain its position rather than sell immediately. » More on finance.yahoo.com

Steelcase shares rose to a 52-week high of $17.26 and have gained 60% over the past six months (year-to-date gain about 30.7%). Investors point to a solid balance sheet: Current Ratio 1.66, EBITDA $137 million, moderate indebtedness and a dividend paid for 28 years (yield 2.33%). In Q2 of fiscal 2026, Steelcase beat expectations with EPS of $0.45 (expectation $0.37) and revenue of $897 million (expectation $873.6 million). At the same time, HNI announced an exchange offer for all outstanding Steelcase bonds in connection with the planned takeover, including an early-bird cash premium of $2.50 per $1,000 face value. » More on de.investing.com

Steelcase reported Q2 EPS of $0.45 versus $0.37 expected and revenue of $897 million (+5% YoY), beating analysts’ estimates. Adjusted operating margin rose to 8.4% and organic growth was 4% (8% internationally), driven by strong demand in India and China. Despite the results, the stock fell 1.13% in after-hours trading to $16.68; reasons cited include investor caution over restructuring costs, macroeconomic risks and the upcoming merger with HNI Corporation. » More on de.investing.com