MLKN
MillerKnoll, Inc.16.69
+0.05+0.3%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.14BP/E (TTM)
-Basic EPS (TTM)
-0.23Dividend Yield
0.05%Recent Filings
8-K
Veltman named permanent CFO
MillerKnoll appointed Kevin Veltman as permanent Chief Financial Officer on October 16, 2025, following his interim role since September 8. Veltman, a decade-long veteran who led the Knoll integration, now oversees global financial operations with a boosted base salary of $520,000 and equity awards totaling $500,000 in PSUs and RSUs. This move stabilizes leadership amid the transition of former CFO Jeff Stutz to COO. Internal promotions like this build continuity.
8-K
Shareholders approve incentive plan
MillerKnoll shareholders approved the 2025 Long-Term Incentive Plan at the October 13, 2025 annual meeting, authorizing up to 21,164,945 shares for equity awards to employees and directors, replacing the 2023 plan. The vote passed with 46.2 million for and 12.8 million against, while also electing directors Lisa A. Kro, John T. Maeda, and Michael C. Smith to three-year terms. Shareholders backed executive compensation and ratified KPMG as auditors. This bolsters talent retention amid competitive pressures.
10-Q
Q1 FY2026 results
MillerKnoll's Q1 FY2026 net sales climbed 10.9% y/y to $955.7M, fueled by volume gains across North America Contract (up 12.1% to $533.9M), International Contract (up 14.4% to $167.5M), and Global Retail (up 6.4% to $254.3M), though orders dipped 5.4% y/y to $885.4M. Gross margin held at 38.5%, down 0.5 points y/y amid tariff costs, while operating earnings surged 252% y/y to $53.5M on lower integration charges; net earnings hit $20.2M or $0.29 diluted EPS, verified against 69.2M shares. Cash from operations fell to $9.4M, with free cash flow at -$21.3M (derived) after $30.7M capex, and cash stood at $167.2M alongside $313.3M revolver availability; total debt was $1,352.7M, including a refinanced Term Loan B to August 2032. The Term Loan B amendment in August 2025 cut principal to $550M but triggered a $7.8M extinguishment loss in other expense. Solid demand persists, yet tariff pressures linger.
8-K
Q1 sales up 10.9%, orders down
MillerKnoll kicked off fiscal 2026 with Q1 net sales of $955.7M, up 10.9% year-over-year, while orders dipped 5.4% to $885.4M due to prior pull-forward. Operating margin surged to 5.6% from 1.8%, despite $8M tariff hit; adjusted EPS hit $0.45. Sales beat expectations. Q2 guides $926M-$966M sales amid ongoing tariff pressures.
8-K
Secures $90M receivables facility
MillerKnoll secured a three-year, $90 million accounts receivable securitization facility on September 10, 2025, to fund general working capital needs. The deal, backed by Wells Fargo, lets the company sell receivables to a bankruptcy-remote subsidiary, with borrowings at Daily One Month Term SOFR plus 1.075% margin, maturing September 8, 2028. It bolsters liquidity without guaranteeing receivable collectibility. Yet covenants loom large.
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