Adjusted earnings reached 55 cents per share, comfortably clearing the 52-cent consensus estimate from analysts polled by FactSet. The results were fueled by a 6.9% increase in North American contract sales and a 5.5% rise in global retail performance, which helped offset a 3.8% decline in international contract business.
In section Market Quotes
MillerKnoll Posts Quarterly Profit as Retail and Contract Sales Climb
MillerKnoll swung to a $23.6 million profit in its fiscal fourth quarter, overcoming earlier warnings that regional instability and rising logistics costs might hamper performance. The office-furniture manufacturer outperformed Wall Street expectations, bolstered by a 4.4% revenue increase that pushed total quarterly sales to $1 billion.
Chief Operating Officer Jeff Stutz attributed the strong finish to the company’s broad geographic footprint and channel diversity. Looking ahead, the firm projects full-year sales between $3.93 billion and $4.13 billion. This guidance arrives as the company prepares for a major leadership transition; Stutz is slated to step in as interim CEO on June 30 following the retirement of Andi Owen, while the board continues its search for a permanent successor.
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