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Feb 26, 2022
MillerKnoll Q3 2022 Earnings Report
Reported strong demand and sales growth across all segments, driven by leveraging a global infrastructure and collective of brands, and made progress on the Knoll acquisition integration.
Key Takeaways
MillerKnoll reported a 74.3% increase in net sales to $1.03 billion and a 93.6% increase in orders to $1.1 billion. The company is making progress on integrating the Knoll acquisition and expects to deliver $120 million in cost synergies within three years.
Quarterly orders increased by 93.6% over the prior year, up 31.5% organically.
Sales and order growth occurred across all segments by leveraging a global infrastructure and collective of brands.
Integration of the Knoll acquisition continues to progress as planned.
MillerKnoll remains confident in its ability to deliver $120 million of run rate cost synergies within three years of closing.
MillerKnoll
MillerKnoll
MillerKnoll Revenue by Segment
Revenue by Segment
International Contract Revenue
CapyFin.comGlobal Retail Revenue
CapyFin.com Forward Guidance
The company expects sales in the fourth quarter of fiscal year 2022 to range between $1,075 million and $1,115 million, and earnings per share to be between $0.46 and $0.52.
Positive Outlook
- Sales are expected to increase by 76% compared to the same quarter last fiscal year on a reported basis.
- Sales are expected to increase by 23% on an organic basis, excluding the impact of the Knoll acquisition, dealer divestiture, and foreign currency translation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income