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Benzinga
Benzinga
Business
Shivani Kumaresan

MillerKnoll Q4 Earnings Beat Street View

MillerKnoll Nasdaq
  • MillerKnoll Inc (NASDAQ:MLKN) reported fourth-quarter FY22 sales growth of 77% year-on-year to $1.10 billion, beating the consensus of $1.09 billion. Orders in Q4 rose 47% to $1.01 billion.
  • The gross margin for the quarter contracted 160 basis points Y/Y to 34.8%.
  • The operating expenses rose 51.5% Y/Y to $325.5 million.
  • The operating margin expanded 340 basis points to 5.2%.
  • The company held $230.3 million in cash and equivalents as of May 28, 2022.
  • Adjusted EPS of $0.58 beat the analyst consensus of $0.47.
  • Outlook: MillerKnoll sees 1Q23 sales of $1.08 billion - $1.12 billion, above the consensus of $1.05 billion.
  • The company expects Q1 EPS of $0.32 - $0.38 versus the consensus of $0.35.
  • Price Action: MLKN shares are trading higher by 5.29% at $29.48 in premarket on the last check Thursday.
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