MillerKnoll swung to a net profit of $23.6 million in its fiscal fourth quarter ended May 30, compared with a $57.1 million loss a year earlier, sending its shares up over 18 percent. Quarterly sales rose 4.4 percent to $1 billion, beating analyst estimates of $973.9 million, while earnings per share of 55 cents exceeded forecasts by 6.8 percent. The company cited improved North American contract business and global retail sales, with North America contract sales up 6.9 percent to $530.2 million and global retail sales up 5.5 percent to $295.3 million, though international contract sales fell 3.8 percent to $178.7 million. Performance in the Middle East exceeded expectations, and the region is seen as a growth area. For the full fiscal year, net sales rose 4.7 percent to $3.84 billion, and the board declared a quarterly cash dividend of 18.75 cents per share. Looking ahead, MillerKnoll forecast first-quarter fiscal 2027 sales of $928 million to $968 million and full-year sales of $3.93 billion to $4.13 billion, its first full-year outlook since the pandemic.
MillerKnoll IncMillerKnoll swung to a Q4 net profit, beat revenue and EPS estimates, and issued first full-year outlook since pandemic.