Why MillerKnoll Stock Surged After Hours
Portfolio Pulse from Ryan Gustafson
MillerKnoll, Inc. (NASDAQ:MLKN) reported Q1 earnings of 37 cents per share, beating the analyst consensus estimate of 21 cents. The company also reported quarterly sales of $917.70 million, surpassing the analyst consensus estimate of $899.60 million. The company generated $130.9 million of cash flow from operations in Q1. Q2 earnings per share are estimated to be between 52 cents and 58 cents, and revenue is anticipated to be between $950 million and $990 million. Full-year 2024 earnings per share guidance was raised to between $1.85 and $2.15.
September 26, 2023 | 8:44 pm
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MillerKnoll reported better than expected Q1 earnings and sales, and raised its full-year 2024 EPS guidance. This positive news led to a surge in the company's stock price in after-hours trading.
MillerKnoll's better than expected Q1 results and raised full-year 2024 EPS guidance are positive indicators of the company's performance and future outlook. This news is likely to be viewed favorably by investors, leading to increased demand for the company's stock and a potential increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100