Welcome to our dedicated page for MillerKnoll news (Ticker: MLKN), a resource for investors and traders seeking the latest updates and insights on MillerKnoll stock.
MillerKnoll, Inc. (NASDAQ: MLKN) is a leading global company specializing in interior furnishings. The company, formed from the merger of Herman Miller and Knoll, is renowned for its innovative designs and high-quality products. MillerKnoll operates through three primary segments: Americas Contract, International Contract & Specialty, and Global Retail. These segments cater to a diverse range of customers including businesses, independent retailers, and direct consumers through various channels such as direct sales, online stores, and catalogs.
MillerKnoll boasts an impressive portfolio of brands which includes Herman Miller, Knoll, Design Within Reach, and Muuto, among others. This collective drives the company’s mission to design the world we live in, with a strong emphasis on sustainability and creating products that endure through generations.
Recently, MillerKnoll has achieved significant milestones. In September 2023, Herman Miller launched an exclusive 100-piece capsule collection of rare vintage pieces in collaboration with Wright, celebrating its 100th anniversary. The first MillerKnoll showroom was also unveiled in Dallas, combining the best of Herman Miller and Knoll brands, showcasing the company's expanded design capabilities. Financially, MillerKnoll has demonstrated resilience amid challenging macroeconomic conditions, maintaining strong gross margin expansions and a solid balance sheet with a liquidity position of $583.1 million as of December 2, 2023.
MillerKnoll continues to focus on strategic growth, digital innovation, and operational efficiency, positioning itself for future growth despite current market challenges. With a dedication to quality, sustainability, and design excellence, MillerKnoll is poised to redefine modern living for the 21st century.
MillerKnoll (NASDAQ: MLKN) reported its Q1 fiscal 2025 results, ending August 31, 2024. Orders increased by 2.4% year-over-year (YoY) and 3.5% organically. The ending backlog rose by 9.2% YoY to $758 million. Net sales fell 6.1% YoY to $861.5 million. The gross margin remained flat at 39%. Operating expenses increased by 1% to $321.1 million. Adjusted operating expenses decreased by 5.2% to $286.9 million. The effective tax rate surged to 66.2%. Adjusted EPS was $0.36, down from $0.37 YoY. The company reported a diluted loss per share of $0.02, compared to an EPS of $0.22 last year. Cash flow from operations was $21.1 million, and share repurchases totaled $43.7 million. The company maintained its full-year adjusted EPS guidance of $2.20 and projected Q2 net sales between $950 million and $990 million, with adjusted EPS between $0.51 and $0.57.
MillerKnoll (NASDAQ:MLKN), a global design leader, is opening new flagship locations in London and New York this month. These spaces combine contract showrooms and retail stores from various brands in the MillerKnoll portfolio, creating world-class design destinations. The London location spans 1,700 square meters across three floors in Clerkenwell, featuring brands like Knoll, Herman Miller, and Maharam. The New York location occupies 11 floors and over 77,000 square feet at 251 Park Avenue South, showcasing Knoll, Herman Miller, Geiger/DatesWeiser, Muuto, and Maharam. Both locations include dedicated MillerKnoll Studios to highlight the collective approach for modern workplaces. These new hubs aim to provide inspiring workplaces for employees and offer customers and the design community convenient access to the latest in office, home, and beyond design.
MillerKnoll (NASDAQ: MLKN) has announced its plans to release first quarter fiscal year 2025 financial results on Thursday, September 19, 2024, after the stock market closes. The company will host a conference call and webcast at 5:00 p.m. Eastern time on the same day to discuss the results.
Investors can access the live webcast through MillerKnoll's investor relations website or join via telephone by dialing (888) 596-4144 with the conference ID 9363323. An online archive of the webcast will be available on the company's investor relations website, along with additional supporting materials.
MillerKnoll (NASDAQ: MLKN), a global design leader, has appointed three new directors to its Board: John Maeda, Tina Edmundson, and Jeanne Gang. This move follows the retirement of two directors and aims to support the company's long-term growth. The new members bring expertise in technology, architecture, design, hospitality, and art.
John Maeda, currently at Microsoft, has a background in technology and design. Tina Edmundson, President of Luxury at Marriott International, brings over 25 years of hospitality experience. Jeanne Gang, a renowned architect, is known for designing spaces that connect people and nature. CEO Andi Owen emphasized their shared commitment to sustainability and belief in design as a tool for positive change. With these additions, MillerKnoll's Board now has twelve directors, eleven of whom are independent.
MillerKnoll (NASDAQ: MLKN) reported its fourth quarter and fiscal 2024 results, showing mixed performance. Orders in Q4 increased by 1.1% on a reported basis and 2.9% organically, while gross margin improved by 250 basis points YoY. However, net sales for Q4 were down 7.1% YoY to $888.9 million, and full-year net sales decreased by 11.2% to $3.6 billion. Despite these declines, the company achieved annualized cost synergies of $160 million through integrating Knoll and improved EPS metrics, with GAAP EPS up 101.8% for the year.
The company's Q4 operating margin increased to 2.7%, and adjusted diluted EPS grew 63.4% to $0.67. For the entire fiscal year, adjusted diluted EPS rose 12.4% to $2.08. The company is optimistic for fiscal 2025, expecting a sales increase and adjusted diluted EPS between $2.10 and $2.30. Investments in showrooms and digital platforms aim to boost the business amid challenging retail conditions.
MillerKnoll (NASDAQ: MLKN) will release its Q4 and full fiscal year 2024 financial results on June 26, 2024, after market close. The company will host a conference call and webcast at 5:00 p.m. ET to discuss the results. Investors can access the live webcast on MillerKnoll's investor relations website or via telephone at (888) 596-4144 using the conference ID 6789541. An online archive of the webcast will be available later on the same website. Additional supporting materials will also be provided on the investor relations page.
MillerKnoll (NASDAQ:MLKN) will showcase its collective of brands during the Fulton Market Design Days from June 10-12, 2024, in Chicago. The event features over 70,000 square feet of showroom space, focusing on sustainability, innovation, and new product launches. Key highlights include Herman Miller's Bay Work Pod, Geiger's luxurious office solutions, Maharam's new textiles, and Muuto's exploration of neuroaesthetics. The event aims to engage the global contract, architecture, and design communities with dynamic programming and exhibits, showcasing MillerKnoll's commitment to creating impactful environments.
The Fulton Market Design District in Chicago is gearing up for its flagship Design Days events from June 10-12, featuring over 35 iconic design brands. The event will include product launches, exhibits, and various activities to welcome design professionals and enthusiasts. With last year's success, this year's event aims to enhance the experience for visitors, offering pop-ups, giveaways, and a central Welcome Center for networking and coordination. The neighborhood continues to grow, with new brands and spaces opening up, making it a top destination for design and socialization.
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