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Dec 02, 2023
MillerKnoll Q2 2024 Earnings Report
Reported strong financial performance with a 28.3% year-over-year increase in adjusted earnings per share, driven by improved gross margins across all segments.
Key Takeaways
MillerKnoll reported a decrease in net sales by 11.0% to $949.5 million, but achieved a 28.3% increase in adjusted earnings per share. The company's gross margin improved by 470 basis points, and operating margin reached a record high since the acquisition of Knoll, Inc. The company is increasing its full year fiscal 2024 adjusted earnings guidance to a range of $2.00 to $2.16 per share.
Adjusted earnings per share increased by 28.3% year-over-year.
Gross margin improved by 470 basis points compared to the prior year.
Operating margin reached a record high since the acquisition of Knoll, Inc.
Full year fiscal 2024 adjusted earnings guidance increased to $2.00 to $2.16 per share.
Revenue by Segment
Forward Guidance
For the third quarter of fiscal year 2024, the company expects net sales to range between $890 million to $930 million and adjusted diluted earnings to be between $0.40 to $0.48 per share. For full year fiscal 2024, the company is increasing its guidance and expects to generate adjusted diluted earnings in the range of $2.00 and $2.16 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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