MillerKnoll's Stock Slides After-Hours On Q2 Performance And Outlook: Details
Portfolio Pulse from Ryan Gustafson
MillerKnoll, Inc. (NASDAQ:MLKN) reported Q2 earnings of $0.59 per share, beating estimates by 28.26% but saw a sales decline of 11.01% year-over-year, missing expectations. The company improved gross margin and generated $82.4 million in operating cash flow. However, the stock slid after-hours due to a lower-than-expected revenue outlook for Q3 and FY2024, despite higher EPS guidance.
December 20, 2023 | 10:14 pm
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MillerKnoll's Q2 earnings beat estimates but revenue fell short, with shares declining after-hours. The company's positive EPS outlook for Q3 and FY2024 contrasts with lower revenue projections.
Despite beating EPS estimates, MillerKnoll's stock declined due to lower-than-expected sales and a cautious revenue outlook for the upcoming quarters. This negative sentiment is likely to impact the stock price in the short term as investors adjust their expectations based on the new guidance.
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