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MillerKnoll, Steelcase expect flat to lower sales this quarter as order rates soften

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22 December, 2022

MillerKnoll Inc. and Steelcase Inc. both expect flat to lower sales for the present quarter going into 2023 amid softer order rates.

The Zeeland-based MillerKnoll (Nasdaq: MLKN) expects organic sales for the second quarter of the 2023 fiscal year to decrease 0.7 percent to 2.9 percent from the same period a year ago, to $980 million to $1.02 billion.

MillerKnoll on Wednesday reported $1.06 billion in sales for the quarter that ended Dec. 6, a 4-percent increase from a year earlier. The corporation recorded $16 million in net income, or 21 cents per diluted share.

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MillerKnoll, Inc. Reports Second Quarter Fiscal 2023 Results

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21 December, 2022

ZEELAND, Mich., Dec. 21, 2022 /PRNewswire/ —

  • Sales growth of 4% over the prior year, up 8% organically
  • Year-over-year operating margin expansion in the Americas Contract and International Contract & Specialty segments
  • Continued progress with the integration of Knoll
    • $101 million of run-rate cost synergies captured to date
    • Increased targeted run-rate cost synergies from $120 million to $140 million within three years of the Knoll acquisition
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MillerKnoll (MLKN) Set to Announce Earnings on Wednesday

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20 December, 2022

MillerKnoll (NASDAQ:MLKN) will post its quarterly earnings results on Wednesday, December 21st. MillerKnoll has set its Q2 guidance at $0.39-0.45 EPS.

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MillerKnoll, Inc. Reports Fourth Quarter Fiscal 2022 Results

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Wednesday, 29 June, 2022

  • Strong sales growth of 77% over the prior year, up 23% organically
  • Sequential operating margin improvement of 230 basis points
  • Continued progress with the integration of Knoll
    • 66 million of run-rate cost synergies captured to date
    • Company remains confident in ability to deliver $120 million of run-rate cost synergies within three years of closing
  • Formal launch of the contract dealer network in North America positions MillerKnoll (NASDAQ: MLKN) for future growth
Read full article here: (CISION PR NEWSWIRE)

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