MillerKnoll Q3 2020 Earnings Report
Key Takeaways
Herman Miller reported a 7.5% increase in net sales compared to the same quarter last year. The adjusted earnings per share exceeded expectations, despite the uncertain global economic environment resulting from coronavirus concerns. The company refrained from providing guidance for the upcoming fourth quarter due to this uncertainty.
Net sales increased by 7.5% compared to the prior year.
New orders increased by 6.3% from the prior year level.
Adjusted earnings per share exceeded expectations.
The company experienced adjusted operating margin expansion of 110 basis points over last year.
MillerKnoll
MillerKnoll
Forward Guidance
Due to the uncertainty and the rapidly changing effects of risk mitigation efforts to control the coronavirus outbreak around the world, the company is not able to reasonably estimate the impact of the outbreak on its business or financial results in the near-term and is not providing guidance for the upcoming quarter.