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In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. However, the top and bottom lines declined year over year.
MillerKnoll’s earnings topped the consensus mark in each of the last four quarters, the average surprise being 32.3%.
How are Estimates Placed?
The Zacks Consensus Estimate for the company's fiscal second-quarter 2024 earnings per share (EPS) has remained unchanged at 55 cents over the past 30 days. The current estimate suggests 19.6% growth from the year-ago quarter’s reported earnings value of 46 cents per share.
The consensus mark for net sales is pegged at $968.6 million, suggesting a decline of 9.2% from the year-ago reported figure of $1.07 billion.
Key Factors to Consider
MillerKnoll’s net sales for the to-be-reported quarter are expected to have declined year over year due to a notable decline in sales volume on the back of the soft North American housing market along with challenging macroeconomic conditions in Europe and China. The ongoing uncertainty in the economy is likely to have decreased the contributions from the company’s Global Retail, International & Specialty, and Americas segments, thus affecting its top line.
For fiscal second-quarter 2024, the company expects net sales to range between $950 million and $990 million, down on a year-over-year basis. That said, favorable price increases and incremental discounting are likely to have partially offset the aforesaid headwinds.
Meanwhile, MillerKnoll is expected to have witnessed bottom-line growth given its focus on the realization of price increases, ongoing benefits from integration-related synergies and positive shifts in product and channel mix. For the to-be-reported quarter, the company’s cost of sales is likely to have declined, and the gross margin is expected to have expanded year over year.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for MillerKnoll this time around. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: MLKN has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has surged 127.3% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and EPS suggests rises of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 37.5%, on average. The stock has gained 34.2% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a 28.6% and 132.8% rise, respectively, from the year-ago period’s levels.
Grand Canyon Education, Inc. (LOPE - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 9.9%, on average. The stock has gained 32.7% in the past year.
The Zacks Consensus Estimate for LOPE’s 2023 sales and EPS suggests an improvement of 7.1% and 17.1%, respectively, from the year-ago period’s levels.
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MillerKnoll (MLKN) to Report Q2 Earnings: What's in Store?
MillerKnoll, Inc. (MLKN - Free Report) is scheduled to report its second-quarter fiscal 2024 results on Dec 20, after market close.
In the last reported quarter, the company’s earnings and net sales topped the Zacks Consensus Estimate by 76.2% and 1.9%, respectively. However, the top and bottom lines declined year over year.
MillerKnoll’s earnings topped the consensus mark in each of the last four quarters, the average surprise being 32.3%.
How are Estimates Placed?
The Zacks Consensus Estimate for the company's fiscal second-quarter 2024 earnings per share (EPS) has remained unchanged at 55 cents over the past 30 days. The current estimate suggests 19.6% growth from the year-ago quarter’s reported earnings value of 46 cents per share.
MillerKnoll, Inc. Price and EPS Surprise
MillerKnoll, Inc. price-eps-surprise | MillerKnoll, Inc. Quote
The consensus mark for net sales is pegged at $968.6 million, suggesting a decline of 9.2% from the year-ago reported figure of $1.07 billion.
Key Factors to Consider
MillerKnoll’s net sales for the to-be-reported quarter are expected to have declined year over year due to a notable decline in sales volume on the back of the soft North American housing market along with challenging macroeconomic conditions in Europe and China. The ongoing uncertainty in the economy is likely to have decreased the contributions from the company’s Global Retail, International & Specialty, and Americas segments, thus affecting its top line.
For fiscal second-quarter 2024, the company expects net sales to range between $950 million and $990 million, down on a year-over-year basis. That said, favorable price increases and incremental discounting are likely to have partially offset the aforesaid headwinds.
Meanwhile, MillerKnoll is expected to have witnessed bottom-line growth given its focus on the realization of price increases, ongoing benefits from integration-related synergies and positive shifts in product and channel mix. For the to-be-reported quarter, the company’s cost of sales is likely to have declined, and the gross margin is expected to have expanded year over year.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for MillerKnoll this time around. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: MLKN has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Key Picks
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector.
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank of 1. You can see the complete list of today’s Zacks Rank #1 stocks here.
It has a trailing four-quarter earnings surprise of 28.3%, on average. The stock has surged 127.3% in the past year. The Zacks Consensus Estimate for RCL’s 2023 sales and EPS suggests rises of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 37.5%, on average. The stock has gained 34.2% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a 28.6% and 132.8% rise, respectively, from the year-ago period’s levels.
Grand Canyon Education, Inc. (LOPE - Free Report) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 9.9%, on average. The stock has gained 32.7% in the past year.
The Zacks Consensus Estimate for LOPE’s 2023 sales and EPS suggests an improvement of 7.1% and 17.1%, respectively, from the year-ago period’s levels.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.