MillerKnoll navigates soft North America contract orders with disciplined cost controls and international growth, delivering Q1 adjusted EPS above guidance despite a 3.4% revenue decline.
MillerKnoll reported Q1 FY27 revenue down 3.4% but adjusted EPS above guidance, with soft North America contract orders partially offset by strong international demand and tariff refund benefits.
MillerKnoll reported Q1 fiscal 2027 revenue of $923 million, a 3.4% decline year-over-year, driven by weaker-than-expected performance in its North America Contract and global retail segments. Despite the revenue dip, the company exceeded adjusted EPS guidance, bolstered by disciplined cost management and a $0.11 per share net benefit from tariff refunds.
The company benefited from disciplined cost management and a $16.5 million net benefit from IEPA tariff refunds, which helped offset revenue headwinds and inflationary pressures.
The company is focusing on winning national accounts, leveraging A&D specifier relationships, and accelerating new product innovation to improve responsiveness and service levels.