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Aug 29, 2020
MillerKnoll Q1 2021 Earnings Report
Reported strong retail performance and improving global trends offsetting demand pressures in North America.
Key Takeaways
Herman Miller reported a decrease in consolidated net sales by 7% compared to last year and 13% organically, but was offset by strong retail segment growth with orders up 40%. Operating margins improved to 15.2% and earnings per share reached $1.24.
Retail business led the way with orders up 40% over last year, driven by the Home Office category.
North America segment experienced a year-over-year decline of 40% due to the effects of COVID-19.
International segment saw improved demand, with orders up 26% on a reported basis and down 9% organically.
Operating margins improved to 15.2%, reflecting strong channel and product mix and effective expense management.
Revenue by Segment
Forward Guidance
While encouraged by strategic progress, the company is continuing to suspend sales and earnings guidance given the uncertain demand environment due to the global pandemic. Recent demand patterns and backlog are relevant data points for estimating near-term revenue opportunity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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