Steelcase Inc. (NYSE:SCS) Q1 2024 Earnings Conference Call June 22, 2023 8:30 AM ET

Company Participants

Mike O'Meara - Investor Relations

Sara Armbruster - President and Chief Executive Officer

Dave Sylvester - Senior Vice President and Chief Financial Officer

Conference Call Participants

Greg Burns - Sidoti

Reuben Garner - Benchmark

Steven Ramsey - Thompson Research Group

Budd Bugatch - Water Tower Research

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Steelcase First Quarter Fiscal 2024 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Mr. O'Meara, you may begin your conference.

Mike O'Meara

Thank you, Rob. Good morning, everyone. Thank you for joining us for the recap of our first quarter fiscal 2024 financial results.

Here with me today are Sara Armbruster, our President and Chief Executive Officer; and Dave Sylvester, our Senior Vice President and Chief Financial Officer.

Our first quarter earnings release, which crossed the wires yesterday, is accessible on our website. This conference call is being webcast and this webcast is a copyrighted production of Steelcase Inc. A replay of this webcast will be posted to ir.steelcase.com later today.

Our discussion today may include references to non-GAAP financial measures and forward-looking statements. Reconciliations to the most comparable GAAP measures and details regarding the risks associated with the use of forward-looking statements are included in our earnings release, and we are incorporating by reference into this conference call the text of our Safe Harbor statement included in the release.

Following our prepared remarks, we will respond to questions from investors and analysts.

I will now turn the call over to our President and Chief Executive Officer, Sara Armbruster.

Sara Armbruster

Thanks, Mike. Hello, everyone, and thanks for joining the call today.

Overall, we feel very good about our first quarter results, which were better than expected, as both revenue and adjusted EPS finished above the guidance range we provided in March. Our adjusted outlook -- earnings outlook for Q2 is in line with the prior year and would put us ahead of pace to achieve our fiscal '24 target.

Dave will cover our results in more detail, but I'm proud of our sales teams for continuing to capture pricing benefits in response to the extraordinary inflation we've experienced over the past two years, and I want to thank our operations teams for the improvements they continue to drive. In addition, our win rate has continued to be very strong.