Q4 2025 MillerKnoll Inc Earnings Call Transcript
Key Points
- MillerKnoll Inc (MLKN) reported strong Q4 results, significantly exceeding expectations with adjusted earnings of $0.60 per share.
- Consolidated net sales in Q4 were $962 million, up 8.2% year-over-year, driven by strength across all business segments.
- The company opened new flagship locations in London and New York, enhancing customer interactions and increasing visits.
- MillerKnoll Inc (MLKN) introduced over 30 new products at Design Days 2025, showcasing innovation and design leadership.
- The company plans to expand its retail footprint by opening 10 to 15 new stores in fiscal 2026, aiming to double its store presence over the next several years.
- Tariff-related costs are expected to negatively impact margins in the near term, with a $9 million to $11 million reduction in Q1 earnings.
- The retail segment's operating margin decreased to 5.3% in Q4, impacted by new store opening costs and unfavorable product mix.
- Order growth in North America was partially driven by pull-forward activity due to tariff surcharges, which may affect future order levels.
- The company faces a dynamic macroeconomic environment, with cautious optimism in both North American and international markets.
- MillerKnoll Inc (MLKN) anticipates a two-quarter impact from tariff-related pricing actions, affecting profitability in Q1 and Q2 of fiscal 2026.
Good evening, and welcome to MillerKnoll's quarterly earnings conference call. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Wendy Watson, Vice President of Investor relations.
Good evening. And welcome to our fourth quarter fiscal 2025 conference call. On with me are Andrea Owen, Chief Executive Officer; and Jeffrey Stutz, Chief Financial Officer. Joining them for the Q&A session are John Michael, President of North America Contract; and Debbie Propst, President of Global Retail.
We issued our earnings press release for the quarter ended May 31, 2025 after market closed today, and it is available on our investor relations website at millerknoll.com. A replay of this call will be available on our website within 24 hours.
Before I turn the call over to Andy. Please remember our Safe Harbor disclosure regarding forward-looking information. During the call, management may discuss information that is forward
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