MillerKnoll Q1 FY2027: Adjusted EPS Beats, Orders Rise 3.2%, Full-Year Guidance Reaffirmed
MLKN sits 44% above its 52-week low of $13.773.
Summary
MillerKnoll reported Q1 FY2027 adjusted EPS of $0.53, beating expectations, with orders up 3.2% despite a 3.4% sales decline. Full-year adjusted EPS guidance was reaffirmed at $1.85-$2.15.
Updates
· SEC 10-Q — The 10-Q reports net earnings of $26.6 million, or $0.38 per diluted share, and a $16.5 million IEEPA tariff refund benefit in cost of sales.
Key Events · Earnings and Guidance · MLKN
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Q1 Adjusted EPS Beats Expectations
Adjusted diluted EPS of $0.53, up 17.8% from $0.45 a year ago, driven by a $10 million tariff refund and price realization.
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Orders Grow 3.2% Despite Sales Decline
Orders of $913.9 million rose 3.2% year-over-year, while net sales fell 3.4% to $923.4 million, reflecting softer demand patterns.
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Full-Year Guidance Reaffirmed
Adjusted EPS guidance for FY2027 remains $1.85 to $2.15, though the top end of revenue guidance was trimmed to $4.03 billion from $4.13 billion.
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Restructuring and CEO Transition Costs
Q1 included $6.0 million in restructuring charges for workforce reductions and facility consolidations, plus $1.7 million in CEO transition costs.
Analysis · MLKN · Manufacturing
MillerKnoll delivered first-quarter adjusted EPS of $0.53, up 17.8% year-over-year and above expectations, despite a 3.4% decline in net sales. Orders grew 3.2% to $913.9 million, signaling improving demand. The company reaffirmed its full-year adjusted EPS guidance of $1.85 to $2.15 while slightly lowering the top end of its revenue outlook. A $10 million tariff refund boosted results, but management flagged softer demand patterns and ongoing restructuring costs.
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At the time of this filing, MLKN was trading at $19.80 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $13.77 to $24.71. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.