MillerKnoll Reports Mixed Q1 Fiscal 2027 Results with Segment Divergence
MillerKnoll reported mixed first-quarter fiscal 2027 results, with consolidated sales declining by 3.4% year over year to $923 million and orders rising slightly by 3.2% to $914 million. Adjusted EPS came in at $0.53 per share, including a tariff-refund benefit of approximately $0.11 per share; excluding this, adjusted EPS was $0.42, above guidance expectations. Segment performance varied significantly: North America Contract sales and orders declined due to softer demand, while International Contract orders surged 17.3%. Global Retail saw an increase in orders by 4.3%, with strong momentum noted for the quarter. The company lowered its full-year fiscal 2027 revenue outlook to $3.88 billion–$4.03 billion but maintained adjusted EPS guidance of $1.85–$2.15. Management highlighted disciplined execution, margin improvements (with gross margin rising by 320 basis points year over year), and strong cash generation as key strengths despite revenue challenges.
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