MillerKnoll Earnings Call Transcripts
Fiscal Year 2026
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Third quarter saw strong sales and order growth, margin expansion, and robust cash flow despite macro and geopolitical headwinds. Retail and contract segments performed well, with continued investment in new stores and strategic initiatives.
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Second quarter results exceeded expectations with strong order growth and margin performance. Retail and contract segments showed robust momentum, supported by new store openings and product innovation, while guidance anticipates continued growth and margin resilience.
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Q1 fiscal 2026 saw double-digit sales growth and a 25% increase in adjusted EPS, driven by strong execution, new product launches, and improved market conditions. Tariff impacts and new store costs pressured margins, but mitigation actions are expected to offset these in the second half.
Fiscal Year 2025
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Q4 results exceeded expectations with strong sales and margin performance across all segments. Tariff-related order pull-forward boosted Q4, but near-term margins will be pressured until pricing actions take effect. Retail expansion and innovation remain key growth drivers.
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Q3 saw year-over-year sales and order growth, led by strong global retail performance and disciplined cost control, despite macro and tariff headwinds. Adjusted EPS met guidance, with a cautious Q4 outlook reflecting ongoing uncertainty and significant non-cash impairment charges.
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Q2 FY2025 saw 2.2% net sales growth and strong Americas Contract performance, with retail orders up during the holiday period. Guidance was narrowed due to slower order recovery, but full-year sales and EPS growth are still expected.
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Orders grew year-over-year, led by the Americas Contract segment, while net sales declined due to longer lead times and a shift in promotional timing. Retail outperformed the industry, and full-year earnings guidance was maintained, with optimism for improved demand as macro conditions recover.
Fiscal Year 2024
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Q4 saw strong EPS and margin growth, with consolidated organic order growth of 2.9% year-over-year. Retail margins improved significantly, and cost synergies exceeded targets. Fiscal 2025 is expected to deliver higher sales and EPS, supported by ongoing investments and positive demand trends.