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Aug 30, 2025
MillerKnoll Q1 2026 Earnings Report
MillerKnoll reported strong financial results for the first quarter of fiscal year 2026, exceeding expectations with significant revenue and earnings growth.
Key Takeaways
MillerKnoll delivered a strong start to fiscal year 2026, surpassing expectations with net sales of $955.7 million, a 10.9% increase year-over-year. Diluted EPS was $0.29, a substantial improvement from a loss in the prior year, and adjusted diluted EPS rose by 25% to $0.45. The company highlighted strong execution, improving market conditions, and progress on strategic growth initiatives.
Net sales increased by 10.9% to $955.7 million compared to the same period last year, exceeding expectations.
Diluted earnings per share significantly improved to $0.29 from a loss of $0.02 in the prior year.
Adjusted diluted earnings per share grew by 25% to $0.45, demonstrating strong operational performance.
The company maintained balance sheet strength and achieved revenue and earnings growth despite dynamic external pressures.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter of fiscal year 2026, MillerKnoll expects net sales to be between $926 million and $966 million, with adjusted diluted earnings per share projected to be between $0.38 and $0.44.
Positive Outlook
- Expected net sales range of $926 million to $966 million for Q2 FY2026.
- Anticipated gross margin percentage between 37.6% and 38.6% for Q2 FY2026.
- Adjusted operating expenses are projected to be between $300 million and $310 million.
- Adjusted diluted earnings per share expected to be in the range of $0.38 to $0.44.
- Adjusted effective tax rate is forecasted between 22.0% and 24.0%.
Challenges Ahead
- The outlook for Q2 FY2026 excludes an expected $6.0 million in operating expense charges related to amortization of Knoll purchased intangibles.
- The company does not reconcile forward-looking non-GAAP measures to GAAP.
- Interest and other expense, net, is projected to be between $16.2 million and $17.2 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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