Mixed first-quarter performance: MillerKnoll's sales fell 3.4% year over year to $923 million, while orders rose 3.2% to $914 million. Adjusted EPS was $0.53, or $0.42 excluding a tariff-refund benefit. Demand varied by segment: North America Contract sales and orders declined, although management cited improving pipelines and September order momentum.
International Contract orders surged 17.3%, while Global Retail orders increased 4.3% and North American retail orders rose 7.5%. Fiscal 2027 sales outlook lowered: The company now expects full-year sales of $3.88 billion to $4.03 billion, while maintaining adjusted EPS guidance of $1.85 to $2.15. MillerKnoll also forecast second-quarter sales of $972 million to $1.012 billion and adjusted EPS of $0.43 to $0.49.
High-Yield MillerKnoll, Inc.: Value or Value Trap? MillerKnoll (NASDAQ:MLKN) reported first-quarter fiscal 2027 sales and orders that reflected uneven demand across its businesses, as strong International Contract and Global Retail order trends were offset by softer-than-expected North America Contract activity. For the quarter ended Aug. 29, 2026, consolidated net sales totaled $923 million, down 3.4% from a year earlier, while consolidated orders increased 3.2% to $914 million.
Adjusted diluted earnings per share were $0.53, including an approximately $0.11 per-share net benefit from refunds of previously expensed IEPA tariffs. Excluding that benefit, adjusted EPS was $0.42, above the company's guidance range, according to Interim Chief Executive Officer Jeff Stutz. → These 3 Stocks Under $20 Have Wall Street Looking Past the Share Price "Overall, we delivered solid margin performance, earnings, and cash generation despite revenue headwinds," Stutz said, citing disciplined execution and cost management. Reported gross margin rose 320 basis points year over year to 41.7%, while adjusted gross margin was 41.8%.
The company recognized $16.5 million in U.S. government refunds related to previously expensed IEPA tariffs, contributing 180 basis points to the year-over-year gross-margin increase. → These 3 Stocks Sit at the Center of NVIDIA's Cybersecurity Push Excluding the tariff-refund benefit, adjusted gross margin improved 150 basis points, driven primarily by pricing realization and partly offset by inflationary pressure, Chief Financial Officer Kevin Veltman said. MillerKnoll generated $49 million in operating cash flow and spent $33 million on capital expenditures during the quarter. It ended the period with $580 million in available liquidity, while net debt to EBITDA stood at 2.75 times under its lending agreement. → SpaceX and NVIDIA Want to Put AI Data Centers in Orbit The company's board declared a quarterly cash dividend of $0.1875 per share, payable Oct. 15 to shareholders of record as of Aug. 29.
Management said its capital-allocation priorities remain investing in growth opportunities with strong returns, reducing debt, maintaining the dividend and being opportunistic with share repurchases. Veltman said the company's shift toward smaller-format Herman Miller stores is an example of its focus on investment returns. North America Contract sales fell 5.3% to $506 million, while orders declined 1.7% to $484 million.
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