MillerKnoll reports Q2 adjusted EPS 59c, consensus 54c

Reports Q2 revenue $949.5M, consensus $971.47M. Management stated, “We are pleased to announce another quarter of strong financial performance, marked by a 28.3% year-over-year increase in adjusted EPS despite lower sales. Our teams achieved these results by focusing on what they can control, including the ongoing improvement in gross margins, which exceeded last year’s levels across all three segments of our business…Business confidence has rebounded from recent lows, yet challenges to demand persist due to the elevated cost of capital and geopolitical concerns. Despite these hurdles, our business exhibits encouraging signs, as reflected in heightened project funnel activity, improving order comparisons and strong seasonal demand within the Retail segment….We remain confident in the strategic advantages of diversifying our business, pursuing international expansion, making technology investments to enhance the customer and dealer experience, streamlining processes and continuing to deliver innovative solutions”.