Financial Performance - Consolidated net sales for Q1 FY2025 were $861.5 million, a decrease of 6.1% year-over-year[5] - The company reported a diluted loss per share of $0.02, compared to earnings of $0.22 in the same period last year[6] - Adjusted earnings per share decreased to $49.9 million, down from $55.4 million, indicating a decline of 9.9%[34] - For Q2 FY2025, net sales are expected to range between $950 million and $990 million, with adjusted diluted earnings projected between $0.51 and $0.57 per share[16] - Organic sales growth showed a decline of 6.1% year-over-year, with total net sales reported at $861.5 million for the three months ended August 31, 2024[39] - Adjusted earnings per share for the same period were $0.36, slightly down from $0.37 in the prior year[35] Orders and Backlog - Orders in Q1 increased by 2.4% to $935.9 million, with organic growth of 3.5%, driven by a 5.2% increase in Americas Contract orders[2] - Ending backlog rose to $758.0 million, reflecting a 9.2% increase from the previous year[2] - The backlog for MillerKnoll as of Q1 FY2025 was reported at $758.0 million[44] Segment Performance - Americas Contract segment net sales were $454.6 million, down 7.3% year-over-year, while operating margin decreased to 3.8%[8] - International Contract and Specialty segment net sales were $213.5 million, down 6.5% year-over-year, but orders increased by 2.7%[10] - Adjusted operating earnings for the Americas segment were $43.3 million, down from $52.0 million, reflecting a decrease of 16.3%[34] - Operating earnings for the Global Retail segment increased to $5.5 million, up from $3.1 million, showing a growth of 77.4%[34] Expenses and Margins - Operating expenses for the quarter were $321.1 million, up 1.0% from the prior year, while adjusted operating expenses decreased by 5.2% to $286.9 million[6] - Gross margin remained flat at 39.0%, despite lower revenue levels[5] - Gross margin for the International Contract & Specialty segment improved to 44.5%, compared to 42.4% in the previous period[34] - Operating expenses increased to $321.1 million, resulting in an operating expense percentage of 37.3%, up from 34.6% in the prior year[37] Assets and Liabilities - Total current assets increased slightly to $1,071.8 million from $1,069.6 million[24] - Total liabilities increased to $2,610.0 million from $2,584.6 million, marking a rise of 0.98%[25] - The company reported a total of $4,019.1 million in assets, a slight decrease from $4,043.6 million[24] Cash Flow and Debt - Cash and cash equivalents decreased to $209.7 million from $230.4 million, a decline of 8.9%[24] - The trailing twelve-month adjusted bank covenant EBITDA was $412.5 million, with total debt less cash at $1,170.7 million, resulting in a net debt to adjusted EBITDA ratio of 2.84[38] Tax Rate - The effective tax rate for the three months ended August 31, 2024, was 66.2%, significantly higher than 24.4% in the prior year[43] Integration Charges - Integration charges for the Americas segment were $22.5 million, compared to $3.1 million in the previous period, reflecting a significant increase[34] Guidance and Future Outlook - The company anticipates a shift in holiday promotional periods, potentially moving $17 million to $23 million of net sales from Q2 to Q3 FY2025[17]

Channels of Distribution • Independent Contract Furniture Dealers - Most of the Company's product sales are made to a global network of independently owned and operated contract furniture dealerships. These dealers purchase the Company's products and distribute them to end customers. Many of these dealers also offer furniture-related services, including product installation. • eCommerce - The Company sells products in its portfolio of brands across the globe, through localized Herman Miller, Knoll, and DWR ...

John Maeda, Tina Edmundson and Jeanne Gang Join MillerKnoll's Board of Directors ZEELAND, Mich., July 29, 2024 /PRNewswire/ -- MillerKnoll (NASDAQ: MLKN), a global leader in design, appointed three new directors – John Maeda, Tina Edmundson and Jeanne Gang – to its Board of Directors. With the retirement of two directors, MillerKnoll evaluated the composition of its board of directors and recruited new members with skills, qualifications and diverse backgrounds to augment the expertise of the current board ...

Financial Data and Key Metrics Changes - For Q4, the company reported adjusted diluted earnings of $0.67 per share, exceeding guidance, driven by strong gross margin performance and favorable tax benefits [68] - Consolidated net sales for Q4 totaled $889 million, reflecting an organic decrease of 5.2% year-over-year, while new orders totaled $933 million, indicating organic growth of approximately 3% [68] - The consolidated gross margin improved to 39.6%, up 250 basis points year-over-year and 100 basis points sequentially, driven by price realization and inventory management [69] Business Line Data and Key Metrics Changes - In the Americas Contract segment, net sales were $417 million, down 12.2% year-over-year, but new orders increased by 5.7% [71] - The International Contract and Specialty segment saw net sales of $245 million, up 3.8% organically year-over-year, with new orders remaining flat [72] - The Global Retail segment reported net sales of $227 million, a decline of 7.2% year-over-year, but organic demand growth was noted [77] Market Data and Key Metrics Changes - Traffic at trade shows globally has improved, nearing pre-COVID levels, indicating a positive trend in the contract market [14][62] - The North American housing market slowdown is affecting demand levels, but there are signs of easing negative trends in home sales [64] Company Strategy and Development Direction - The company plans to invest in MillerKnoll showrooms, digital platforms, and tools to support contract business and dealers [57] - There is a focus on expanding the retail footprint and optimizing product assortment to drive long-term sales growth [58] - Sustainability and innovation are emphasized as key considerations for customers, with ongoing efforts to incorporate more sustainable materials [65] Management's Comments on Operating Environment and Future Outlook - Management is optimistic about fiscal 2025, expecting net sales to exceed fiscal 2024 levels and adjusted earnings per share to be in the range of $2.10 to $2.30 [14] - The demand environment for contract and key markets is improving, with healthy activity levels across the business [61] - The company is prepared to harness pent-up retail demand as the home furnishings market is expected to improve [64] Other Important Information - The company achieved annualized run rate savings of $160 million from acquisition cost synergies, exceeding initial targets [73] - The company launched over 30 new products at recent design events, showcasing a commitment to innovation [75] Q&A Session Summary Question: Can you elaborate on the investments on the commercial side? - Management highlighted investments in digital platforms and tools to support dealers, expanding international contracts, and enhancing retail presence [2] Question: What is the outlook for gross margin? - Management did not provide specific guidance but noted factors influencing margins, including pricing benefits and operational efficiencies [4][22] Question: Is there evidence of a plateau in return to work? - Management indicated that the return to office is evolving positively, with increased collaboration and hybrid work models becoming more common [8] Question: What is the status of the dealer network integration? - The dealer network is stable and well-aligned, with ongoing improvements and strategic consolidations enhancing market position [28] Question: What are the expectations for consumer demand in the upcoming year? - Management expressed optimism about pent-up demand in retail, anticipating improvements in the housing market to positively impact sales [64]

INVESTOR PRESENTATION Company Snapshot Forward looking statements 2 The MillerKnoll Collective MillerKnoll COMPANY SNAPSHOT $3.6B International Contract & Specialty 26% Global Retail 24% Americas Contract 50% % Revenue 70+ Brands Dealers in 110 Countries Employees around the globe 5 HOLLY HUNT PREMIUM GEIGER maharam Edelman T HermanMiller LD DATESWEISER - KnollTextiles spinneybeck filzfelt * Knoll colebrook bosson saunders MUUTO HAY ACCESSIBLE Bubble size indicates relative revenue MillerKnoll 6 STRATEGIC C ...

MillerKnoll, Inc. Reports Fourth Quarter and Fiscal 2024 Results Zeeland, Mich., June 26, 2024 – MillerKnoll Inc. (NASDAQ: MLKN) today reported results for the fourth quarter and full fiscal year 2024, which ended June 1, 2024. Business Highlights • Orders in the fourth quarter were up 1.1% on a reported basis and up 2.9% organically from last year. • Fourth quarter and full year gross margin improved 250 basis points and 410 basis points, respectively yearover-year. • Achieved annualized run-rate cost syne ...

MillerKnoll is a collective of dynamic brands that comes together to design the world we live in. The MillerKnoll brand portfolio includes Herman Miller, Knoll, Colebrook Bosson Saunders, DatesWeiser, Design Within Reach, Edelman, Geiger, HAY, HOLLY HUNT, Knoll Textiles, Maharam, Muuto, NaughtOne, and Spinneybeck|FilzFelt. MillerKnoll is an unparalleled platform that redefines modern for the 21st century by building a more sustainable, equitable and beautiful future for all. SOURCE MillerKnoll An online arc ...

With 70,000+ square feet of showroom and retail space, this year's exposition highlights leading sustainability work, test lab innovation and debut products across lifestyle, office and beyond ZEELAND, Mich., May 28, 2024 /PRNewswire/ -- MillerKnoll (NASDAQ:MLKN), a global leader in design, will once again showcase its collective of brands during Fulton Market Design Days, taking place from June 10- 12, 2024 in Chicago, Illinois. This multiple-day event includes product launches, exhibits, street activation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 2, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15141 __________________________________________ MillerKnoll, Inc. (Exact name of reg ...

MillerKnoll, Inc. (NASDAQ:MLKN) Q3 2024 Results Conference Call March 27, 2024 5:00 PM ET Company Participants Carola Mengolini - Vice President, Investor Relations Andi Owen - Chief Executive Officer Jeff Stutz - Chief Financial Officer John Michael - President, Americas Contracts Debbie Propst - President, Global Retail Conference Call Participants Greg Burns - Sidoti Budd Bugatch - Water Tower Research Alex Fuhrman - Craig-Hallum Capital Reuben Garner - The Benchmark Company Operator Good evening, and we ...