MillerKnoll Stock Plummets 21% After Earnings Miss
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy MLKN?
Source: Fool
- Earnings Miss: MillerKnoll reported Q3 2026 earnings of $0.43 per share, falling short of the $0.45 forecast, with sales of $926.6 million also missing the $942 million target, resulting in a 21% stock drop in early trading.
- Sales Growth: Despite missing sales expectations, MillerKnoll achieved a 6% year-over-year sales increase, demonstrating resilience in the market, while gross margins improved by 20 basis points and operating costs were reduced by 26%, indicating significant progress in cost management.
- Profit Transition: The company shifted from year-ago operating and net losses to operating and net profits this quarter, although the reported $0.43 profit was based on non-GAAP measures, with actual GAAP earnings at only $0.34, highlighting concerns over profit quality.
- Future Outlook: MillerKnoll forecasts next quarter sales between $955 million and $995 million, translating to only about a 1% increase, while non-GAAP earnings are expected to reach $0.52 per share, significantly below the $0.59 anticipated by Wall Street analysts, leaving investors disappointed about future prospects.
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Analyst Views on MLKN
About MLKN
MillerKnoll, Inc. is engaged in the research, design, manufacture, selling and distribution of seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services. Its segments include Americas Contract, International Contract & Specialty, and Global Retail. Americas Contract segment includes the operations associated with the design, manufacture and sale of furniture products directly or indirectly through an independent dealership network for office, healthcare, and educational environments throughout North and South America. International Contract & Specialty segment includes the operations associated with the design, manufacture and sale of furniture products, directly or indirectly through an independent dealership network in Europe, the Middle East, Africa and Asia-Pacific. Global Retail segment includes operations associated with the sale of modern design furnishings and accessories to third party retailers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Disappointing Earnings Report: MillerKnoll's Q3 2026 results revealed adjusted earnings per share of $0.43 and net sales of approximately $926.6 million, both falling short of analyst expectations, indicating significant financial strain on the company.
- Pessimistic Q4 Guidance: The company provided guidance for Q4 net sales between $955 million and $995 million and adjusted earnings per share between $0.49 and $0.55, all below consensus estimates, which could further erode investor confidence.
- Decline in Retail Traffic: MillerKnoll disclosed a slowdown in showroom visits and lower retail traffic due to severe weather impacts, which is expected to negatively affect sales and heighten market concerns regarding the company's future performance.
- Significant Stock Price Drop: Following the earnings announcement, MillerKnoll's stock price declined by approximately 19%, reflecting investor disappointment in the company's outlook and prompting Johnson Fistel to investigate the company's compliance with federal securities laws.
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- Surging Oil Prices: WTI crude oil prices surged over 4% due to reports of potential military action against Iran by the Pentagon, which heightened inflation expectations and increased pressure on the stock market.
- Strong Labor Market Data: Initial jobless claims rose by 5,000 to 210,000, in line with expectations, while continuing claims fell by 32,000 to a 1.75-year low of 1.819 million, indicating labor market strength that could influence Federal Reserve policy.
- International Economic Impact: The OECD raised its G-20 inflation forecast for 2026 to 4.0%, reflecting the potential global economic impact of the Iran war, with increasing market concerns about escalating tensions in the Middle East that could disrupt global supply chains.
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- Legal Investigation Launched: Holzer & Holzer, LLC is investigating whether MillerKnoll complied with federal securities laws, indicating potential legal liabilities that could further impact the company's market reputation and shareholder trust.
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- Law Firm Background: Since its founding in 2000, Holzer & Holzer has focused on providing legal support to shareholders, recovering hundreds of millions for defrauded investors, showcasing its expertise and influence in the securities litigation field.
See More
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- OECD Inflation Forecast Raised: The OECD increased its G-20 inflation forecast for 2026 from 2.8% to 4.0%, reflecting the potential economic impacts of the war in Iran, which may lead investors to reassess market risks.
- Escalating Tensions in the Middle East: Saudi Arabia's agreement to allow U.S. military access to King Fahd Air Base signals increased regional pressure on Iran, potentially leading to broader military conflict that could further disrupt global oil and gas supply chains.
See More
Investigation into MillerKnoll Investor Claims
- Disappointing Earnings Report: MillerKnoll's Q3 2026 results revealed adjusted earnings per share of $0.43 and net sales of approximately $926.6 million, both falling short of analyst expectations, indicating significant financial strain on the company.
- Pessimistic Q4 Guidance: The company provided guidance for Q4 net sales between $955 million and $995 million and adjusted earnings per share between $0.49 and $0.55, all below consensus estimates, which could further erode investor confidence.
- Decline in Retail Traffic: MillerKnoll disclosed a slowdown in showroom visits and lower retail traffic due to severe weather impacts, which is expected to negatively affect sales and heighten market concerns regarding the company's future performance.
- Significant Stock Price Drop: Following the earnings announcement, MillerKnoll's stock price declined by approximately 19%, reflecting investor disappointment in the company's outlook and prompting Johnson Fistel to investigate the company's compliance with federal securities laws.
See More
