MillerKnoll (MLKN) Stock

MillerKnoll's (MLKN) third-quarter fiscal 2024 results benefit from strategic inventory management, improved gross margins and pricing initiatives.

MillerKnoll (MLKN) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.54 per share a year ago.

Shares of MillerKnoll Inc. dropped more than 14% in the extended session Wednesday after the furniture maker said that a “lagging” housing market, rising interest rates and other headwinds contributed to lower sales.

MillerKnoll's (MLKN) fiscal third-quarter results are likely to ail from geopolitical concerns, persistent inflationary impacts, and elevated market interest rates.

Furniture and lifestyle retail companies have experienced pain from economic uncertainty, but their shares have still performed well. MillerKnoll's recent financial results show a decline in revenue due to economic factors, but its bottom line has improved. The company's profitability metrics and cash flows have shown improvement, indicating a positive trend for the future.

MillerKnoll, Inc. (MLKN) Q2 2024 Earnings Call Transcript

MillerKnoll (MLKN) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.46 per share a year ago.

MillerKnoll's (MLKN) second-quarter fiscal 2024 results are likely to reflect declining sales volume and the impact of the challenging macro-environment. Yet, favorable pricing is likely to have benefited to some extent.

The office furniture business keeps improving in North America.