MillerKnoll Q4 Earnings Beat Street View

• MillerKnoll Inc (NASDAQ:MLKN) reported fourth-quarter FY22 sales growth of 77% year-on-year to $1.10 billion, beating the consensus of $1.09 billion. Orders in Q4 rose 47% to $1.01 billion.
• The gross margin for the quarter contracted 160 basis points Y/Y to 34.8%.
• The operating expenses rose 51.5% Y/Y to $325.5 million.
• The operating margin expanded 340 basis points to 5.2%.
• The company held $230.3 million in cash and equivalents as of May 28, 2022.
• Adjusted EPS of $0.58 beat the analyst consensus of $0.47.
• Outlook: MillerKnoll sees 1Q23 sales of $1.08 billion - $1.12 billion, above the consensus of $1.05 billion.
• The company expects Q1 EPS of $0.32 - $0.38 versus the consensus of $0.35.
• Price Action: MLKN shares are trading higher by 5.29% at $29.48 in premarket on the last check Thursday.