MillerKnoll Reported Q1 Revenue Beat, But Missed on EPS
<p><a href='https://financialmodelingprep.com/financial-summary/MLHR'>MillerKnoll, Inc., formerly Herman Miller, Inc. (NASDAQ:MLHR)</a>, reported its Q1/22 earnings after the market close on Wednesday, beating consensus estimates for revenues and adj. EBIT, but missing estimates for adj. EPS. </p>
<p>However, it should be noted that consensus numbers did not account for the impact of the Knoll acquisition. The company delivered strong order growth across all reportable segments, but recognized negative impacts to sales and gross margin due to supply chain disruptions and elevated materials costs. </p>
<p>On the integration front, it appears that the company has successfully begun to make headway on consolidating Knoll’s business, with management reiterating its goal of achieving $100 million in run-rate cost synergies within two years. </p>
<p>Analysts at Berenberg Bank reiterated their buy rating and $62 on the company’s shares, noting that they believe demand strength will continue to remain robust across the company’s commercial and retail businesses, leaving compelling opportunities ahead as the integration of Knoll continues.</p>

NASDAQ:MLHR