Stock Track | MillerKnoll Shares Plummet 12.86% on Disappointing Guidance and Lower Orders

Stock Track2024-12-19

MillerKnoll's stock experienced a steep 12.86% plunge during intraday trading on Thursday, following the furniture company's release of weaker-than-expected guidance for the third quarter and fiscal year 2025.

In its fiscal second-quarter earnings report, MillerKnoll projected adjusted earnings per share (EPS) of $0.41 to $0.47 for the third quarter, significantly lower than analysts' consensus estimate of $0.56. The company also forecasted revenue in the range of $903 million to $943 million, slightly missing the consensus expectation of $927.15 million.

Furthermore, MillerKnoll revised its fiscal year 2025 adjusted EPS guidance downward to a range of $2.11 to $2.17, compared to the previous outlook of $2.20 and analysts' consensus estimate of $2.16. The company cited slower-than-expected macroeconomic improvements and lower-than-expected orders in the first half of the year as reasons for the lowered full-year guidance.

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