MillerKnoll, Inc.
16.01-0.91 (-5.38%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · MLKN · USD
Key Stats
Market Cap
1.10BP/E (TTM)
-Basic EPS (TTM)
-0.23Dividend Yield
0.04%Recent Filings
8-K
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
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.
8-K
Leadership shakeup at MillerKnoll
MillerKnoll appointed Jeffrey Stutz as COO effective September 8, 2025, boosting his base salary to $635,000 while he retains CFO duties until a successor arrives; Kevin Veltman steps in as interim CFO at $480,000 annually. John Hoke, Nike's Chief Innovation Officer, becomes non-executive Board Chair on October 13, 2025, post-Mike Volkema's retirement. These shifts absorb the resigning Group President's role into operations. Leadership bolsters design and global efficiency.
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