Herman Miller (MLHR) Misses Q1 EPS by 7c, Sales Beat

Herman Miller (NASDAQ: MLHR) reported Q1 EPS of $0.49, $0.07 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $789.7 million versus the consensus estimate of $654.47 million.

GUIDANCE:

Our second quarter fiscal 2022 guidance includes the full impact of Knoll for the quarter. We expect sales in the second quarter of fiscal 2022 to range between $1,025 million and $1,065 million. The mid-point of this range implies a revenue increase of 67% compared to the same quarter last fiscal year on a reported basis and 12% on an organic basis, excluding the impact of the Knoll acquisition and foreign currency translation. Our forecast for the second quarter also considers the near-term impacts of supply chain disruptions and inflationary pressures. We anticipate adjusted earnings per share to be between $0.55 and $0.61. As the company cannot predict some elements that are included in reported GAAP results, we provide certain guidance on a non-GAAP basis as further discussed in the non-GAAP financial measures section below.

For earnings history and earnings-related data on Herman Miller (MLHR) click here.

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