MillerKnoll shares face pressure as the furniture maker cuts its fiscal 2027 sales outlook following a 3.4% revenue decline in Q1, despite seeing order growth momentum in September.
MillerKnoll lowered its fiscal 2027 sales outlook and reported a decline in North America Contract sales, offset by order growth and an EPS beat excluding tariff benefits.
MillerKnoll reported a 3.4% decline in first-quarter sales to $923 million, citing uneven demand across its North American contract segment. While the company beat adjusted EPS expectations excluding tariff-related benefits, it lowered its full-year fiscal 2027 sales guidance to a range of $3.88 billion to $4.03 billion, reflecting ongoing project conversion delays.
The company reduced its fiscal 2027 sales guidance primarily due to lower-than-expected sales and orders in the first quarter and ongoing delays in converting awarded projects into final orders.