MillerKnoll (MLKN) Q3 Earnings Report Preview: What To Look For

Office furniture manufacturer MillerKnoll (NASDAQ:MLKN) will be reporting results this Tuesday after the bell. Here’s what to look for.

MillerKnoll beat analysts’ revenue expectations by 5.3% last quarter, reporting revenues of $961.8 million, up 8.2% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

Is MillerKnoll a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting MillerKnoll’s revenue to grow 5.7% year on year to $911 million, a reversal from the 6.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MillerKnoll has missed Wall Street’s revenue estimates five times over the last two years.

With MillerKnoll being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for business services & supplies stocks. However, there has been positive investor sentiment in the segment, with share prices up 4.2% on average over the last month. MillerKnoll is down 5.2% during the same time and is heading into earnings with an average analyst price target of $38 (compared to the current share price of $20.76).

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