MillerKnoll Q1 2023 Results: EPS Beats Expectations, Revenue Lags

MillerKnoll (NASDAQ:MLKN) First Quarter 2023 Results

Main financial results

• Revenue: $1.08 billion (up 37% compared to 1Q 2022).
• Net profit: $25.8 million (compared to a loss of $61.4 million in 1Q 2022).
• Profit margin: 2.4% (up from the net loss in 1Q 2022).
• EPS: 0.34 USD (against a loss of 0.93 USD in 1Q 2022).

All figures shown in the table above are for the 12 month period (TTM)

MillerKnoll EPS Exceeds Expectations, Revenues Fall Short

Revenue beat analysts’ estimates by 1.3%. Earnings per share (EPS) exceeded analysts’ estimates by 29%.

Looking ahead, revenue is expected to grow by an average of 3.2% per year over the next 3 years, compared to a growth forecast of 6.5% for the business services industry in the United States.

Performance of the American business services industry.

Shares of the company rose 2.0% from a week ago.

Risk analysis

You should find out about the 3 warning signs we spotted some with MillerKnoll (including 2 that are significant).

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.