News Home

Millerknoll Inc Down 4.54% To $26.73 After Earnings Beat

Thursday, June 30, 2022 12:42 PM | InvestorsObserver Analysts
Millerknoll Inc Down 4.54% To $26.73 After Earnings Beat

MillerKnoll Inc (MLKN) surpassed earnings projections on 6/29/2022 for Q4 2022.

Millerknoll Inc's earnings came in at an EPS of $0.58 per share, 23.00% higher than estimates for an EPS of $0.47 per share. The firm's earnings are up 4% since reporting $0.56 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $1.1 billion. That is an increase of 77.15% in revenues from the year-ago report and is 1.01% higher than consensus estimates set at $1.1 billion.

The stock is down 4.54% to $26.73 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Millerknoll Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 33. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

MillerKnoll Inc, formerly Herman Miller Inc researches, designs, manufactures, sells, and distributes interior furnishings across the globe. The company is predominately located in the United States with corporate offices, independent dealers, and licensees in North America, Asia Pacific, Europe, the Middle East, and Latin America. The company's products are sold through a variety of sources, including owned and independent contract furniture dealers, direct customer sales, owned and independent retailers, direct-mail catalogs, and the company's online stores. The independent retailer division generates the majority of the firm's overall sales.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App