MillerKnoll Full Year 2024 Earnings: Misses Expectations

[email protected] (Simply Wall St)
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MillerKnoll (NASDAQ:MLKN) Full Year 2024 Results

Key Financial Results

  • Revenue: US$3.63b (down 11% from FY 2023).

  • Net income: US$82.3m (up 96% from FY 2023).

  • Profit margin: 2.3% (up from 1.0% in FY 2023).

  • EPS: US$1.12 (up from US$0.56 in FY 2023).

revenue-and-expenses-breakdown
revenue-and-expenses-breakdown

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

MillerKnoll Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 23%.

The primary driver behind last 12 months revenue was the Americas Contract segment contributing a total revenue of US$1.82b (50% of total revenue). Notably, cost of sales worth US$2.21b amounted to 61% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$1.09b (81% of total expenses). Explore how MLKN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Commercial Services industry in the US.

Performance of the American Commercial Services industry.

The company's shares are down 2.3% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for MillerKnoll that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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