Published on 28 Mar 2024 on Zacks via Yahoo Finance
MillerKnoll (MLKN) Q3 Earnings Beat, Sales Miss, Stock Down
MillerKnoll, Inc. MLKN reported mixed third-quarter fiscal 2024 (ended Mar 2, 2024) results, with earnings surpassing Zacks Consensus Estimate and net sales missing the same.Shares of this interior furnishing provider plummeted 12.9% in the after-hours trading session but rose 1.8% during the trading session on Mar 27.On a year-over-year basis, the top and bottom lines decreased. The company experienced declines in the contract and retail segments in the Americas but saw more positive demand levels in the International and Specialty segment, particularly in the contract component. Although consolidated order levels for the quarter fell short of near-term expectations, there was improvement across all segments as the period progressed. In February, consolidated orders increased by 2.8% compared to the previous year.The company is confident about diversification, international expansion, technological investments, streamlined processes and innovation.
MillerKnoll, Inc. Price, Consensus and EPS Surprise
