MillerKnoll lowers annual sales guidance following a 3.4% revenue decline, citing North American demand softness and tariff headwinds, while focusing on debt reduction and manufacturing optimization.
Lowered full-year sales guidance and soft Q1 demand in North America, partially offset by strong order growth and maintained EPS, resulting in a bearish outlook.
MillerKnoll shares face short-term pressure as the company lowers its full-year sales guidance to a range of $3.88 billion to $4.03 billion. Management cited soft North American demand and tariff-related headwinds, though maintained EPS targets through rigorous cost-saving measures and operational restructuring.
The revision reflects softer-than-anticipated demand in North America Contract and Global Retail segments during the first quarter, alongside headwinds from U.S.-Canada tariff actions.