By Denny Jacob
MillerKnoll raised its adjusted earnings per-share outlook for fiscal 2024 and issued its second-quarter outlook.
The interior furnishings manufacturer on Tuesday forecast fiscal year adjusted earnings per share in the range of $1.85 and $2.15, up from its prior guidance between $1.70 and $2. The company didn’t change its stance on its sales outlook, which it previously said it expects to be slightly lower year over year.
For the second quarter, MillerKnoll forecast sales between $950 million and $990 million and adjusted earnings per-share in the range of 52 cents and 58 cents. Analysts polled by FactSet expected 49 cents a share.
“While economic uncertainty persists in parts of our business, we maintain a generally optimistic outlook,” said Chief Executive Andi Owen and Chief Financial Officer Jeff Stutz.
MillerKnoll’s outlook comes as it posted a decline in top- and bottom-line results in the first quarter, reflecting how sectors of its business continue to be affected by macroeconomic conditions.
Write to Denny Jacob at [email protected]
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