The following is a summary of the MillerKnoll, Inc. (MLKN) Q4 2024 Earnings Call Transcript:

Financial Performance:

• MillerKnoll reported Q4 adjusted diluted earnings of $0.67 per share, driven by strong gross margin performance and favorable tax impacts.

• Q4 consolidated net sales totaled $889 million, with an organic decrease of 5.2% year-over-year. However, new orders showed organic growth of 3%.

• Gross margin for the quarter improved by 250 basis points year-over-year to 39.6%, driven by price realization, inventory management, and optimized product mix.

• The consolidated adjusted operating margin increased to 8.3%, up 240 basis points year-over-year.

Business Progress:

• MillerKnoll emphasized investment in expanding digital platforms and MillerKnoll showrooms globally.

• Introduced over 30 new products during Design Days, with notable industry awards for innovation and design.

• Transitioned 19 dealers internationally to full MillerKnoll dealers and aims to transition 100% of the global network by the end of fiscal 2025.

• Showcased commitment to sustainability with a top 5% EcoVadis rating and receiving the 2024 SEAL Sustainable Innovation Award.

Opportunities:

• Anticipated growth in the global retail segment by investing in new stores and expanding product assortments.

• Increase in MillerKnoll showroom investments and the potential uplift from improvements expected in the housing market.

Risks:

• Economic fluctuations and reductions in consumer spending affecting demand levels within the Global Retail segment.

• Potential for increased pricing and discounting pressures as market conditions evolve.

More details: MillerKnoll IR

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