MillerKnoll (MLKN) investor relations material

Executive summary

• Achieved Q3 FY2026 net sales of $926.6M, up 5.8% year-over-year, with organic growth of 3.8%.

• Orders rose 9.2% as reported and 7.2% organically, led by North America Contract and Global Retail.

• Adjusted EPS for Q3 FY2026 was $0.43, slightly down from $0.44 last year; reported EPS improved to $0.34 from a loss of $0.19.

• Gross margin improved by 20 basis points year-over-year to 38.1%.

• Strategic initiatives, disciplined execution, and impactful brand campaigns reinforced leadership in modern design.

Financial highlights

• FY25 revenue reached $3.7B, with 54% from North America Contract, 28% Global Retail, and 18% International Contract.

• Adjusted EBITDA for FY25 was $359.8M; free cash flow was $101.7M.

• Cash flow from operations in Q3 was $61.1M; liquidity at $594M.

• Net debt to EBITDA ratio at Q3 FY2026 was 2.75x.

• Dividend of $0.1875 per share declared, annual yield at 3.9%.

Outlook and guidance

• Q4 FY2026 net sales expected between $955M and $995M; gross margin guidance 38.5%-39.5%.

• Adjusted diluted EPS guidance for Q4: $0.49-$0.55, including $8M-$9M direct impact from Middle East conflict.

• Adjusted operating expenses expected between $311.5M and $321.5M.

• Full-year capital expenditures projected at $120M-$130M.

• Continued investment in new retail stores, with similar pace expected next fiscal year.