MillerKnoll, Inc. (NASDAQ:MLKN) shares climbed in Wednesday's extended trading after the company released its second-quarter earnings report, beating estimates on the top and bottom lines.
Here's a look at the key figures from the quarter.
- MLKN stock is moving. Watch the price action here.
The Details: MillerKnoll reported quarterly adjusted earnings of 43 cents per share, which beat the analyst estimate of 41 cents, according to data from Benzinga Pro.
Quarterly sales came in at $955.2 million, which beat the Street estimate of $943.13 million.
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MillerKnoll reported the following second-quarter highlights:
- Net sales of $955.2 million, down 1.6% as reported and down 2.5% organically, year-over-year
- Orders of $972.5 million, up 5.5% as reported and up 4.5% organically, year-over-year, driven by growth in every segment
- Gross margin increased 20 basis points
“Our second quarter results reflect the disciplined execution of our strategic priorities and the strength of MillerKnoll’s brand collective,” said CEO Andi Owen.
Outlook: MillerKnoll is looking for third-quarter adjusted EPS of 42 cents to 48 cents, versus the 41 cents estimate, and revenue in a range of $923 million to $963 million, versus the $915.87 million analyst estimate.
MLKN Stock Price: According to data from Benzinga Pro, MillerKnoll stock rose 5.82% to $18.55 in Wednesday's extended trading.
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