This Furniture Maker Says the Iran War Is Pressuring Its Outook. Its Stock Is Plunging.

Core Viewpoint - MillerKnoll's stock has dropped over 20% following a warning about risks to its outlook due to the ongoing war in Iran, which is expected to impact shipments and increase logistics costs [2][3]. Financial Performance - The company reported third-quarter revenue of $926.6 million and adjusted earnings of 43 cents per share, both slightly below analysts' expectations [4]. - For the upcoming quarter, MillerKnoll forecasts sales between $955 million and $995 million, with adjusted earnings per share projected at 49 to 55 cents, which are significantly lower than analyst projections [2]. Impact of External Factors - The conflict in the Middle East is anticipated to result in a $8 million to $9 million hit this quarter due to minimal expected shipments and higher logistics costs [2][3]. - CFO Kevin Veltman indicated that the fourth-quarter outlook includes assumptions of higher fuel prices, which will further raise shipping costs [3].