MillerKnoll Second Quarter 2024 Earnings: Misses Expectations
MillerKnoll (NASDAQ:MLKN) Second Quarter 2024 Results
Key Financial Results
Revenue: US$949.5m (down 11% from 2Q 2023).
Net income: US$33.5m (up 109% from 2Q 2023).
Profit margin: 3.5% (up from 1.5% in 2Q 2023).
EPS: US$0.46 (up from US$0.21 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
MillerKnoll Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 4.9%.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Commercial Services industry in the US.
Performance of the American Commercial Services industry.
The company's shares are down 5.1% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 3 warning signs for MillerKnoll (1 is a bit unpleasant!) that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
