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Mar 01, 2025
MillerKnoll Q3 2025 Earnings Report
MillerKnoll reported mixed results for Q3 FY2025 with a slight increase in revenue and strong retail orders but a net loss driven by impairment charges.
Key Takeaways
MillerKnoll posted a small year-over-year revenue increase in Q3 FY2025, supported by strong Global Retail demand, particularly in North America. However, the quarter ended with a net loss primarily due to $130M in impairment charges. Adjusted EPS met expectations at $0.44.
Consolidated revenue was $876.2M, up 0.4% year-over-year.
Reported EPS was -$0.19; Adjusted EPS came in at $0.44.
Global Retail orders surged 14.7% year-over-year.
Recorded $130M in impairment charges during the quarter.
Revenue by Segment
Forward Guidance
For Q4 FY2025, MillerKnoll expects revenue between $910M and $950M and adjusted EPS between $0.46 and $0.52.
Positive Outlook
- Expected Q4 revenue up from Q3.
- Adjusted EPS guidance shows potential improvement.
- Gross margin forecast remains stable.
- Retail demand expected to remain strong.
- Proactive cost control expected to support profitability.
Challenges Ahead
- Tariff costs expected to impact Q4 by $5M–$7M.
- Net earnings impact from tariffs estimated at $0.05–$0.07 per share.
- Macroeconomic uncertainty continues to pose risks.
- Sluggish demand in contract segments expected to persist.
- Ongoing restructuring charges expected in Q4.
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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