MillerKnoll Lowers Fiscal Year 2027 Revenue Guidance Amid Economic Challenges
MillerKnoll has revised its fiscal year 2027 revenue guidance downward due to a difficult macroeconomic environment and rising energy costs. The company now expects revenues between $3.88 billion and $4.03 billion, down from the previous range of $3.93 billion to $4.13 billion. This update came alongside its first-quarter earnings report for fiscal 2027, which showed a sales decline of 3.4% year-over-year to $923.4 million. The drop was primarily driven by weaker performance in the contract business segment, where net sales fell 6.4%. Despite this, early signs from the second quarter suggest some optimism for recovery. The company is focusing on cost management and optimizing production capacity as part of broader efforts to stabilize its operations. Additionally, MillerKnoll has been restructuring internally, including leadership changes at Holly Hunt. On a positive note, improved cash flow from operations rose significantly in Q1 2027 compared to the prior year. Adjusted operating income also increased due to tariff refunds and other cost-saving measures. The company declared a quarterly dividend of $0.1875 per share as it continues navigating leadership transitions following its former CEO's departure.
Tickers: $MLKN
Topics: Fiscal performance Guidance revision Macroeconomic impact