MillerKnoll Inc. (MLKN) Reports 10.9% Increase in Q1 Fiscal 2026 Net Sales

By Tamara Parker • Wednesday, September 24 10:22 • Permanent Link

MillerKnoll Inc. (NASDAQ: MLKN) has reported its first quarter fiscal 2026 results, which ended on August 30, 2025. Here are the key financial highlights:

Net sales for the first quarter of fiscal 2026 were $955.7 million, marking a 10.9% increase from the same period last year.
Gross margin decreased slightly to 38.5% from 39.0% in the prior year.
Operating expenses decreased to $314.6 million from $321.1 million in the prior year.
Adjusted operating expenses increased to $308.0 million, reflecting a 7.4% increase from the previous year.
Operating earnings as a percentage of net sales increased to 5.6% from 1.8% in the prior year.
Adjusted operating earnings as a percentage of net sales increased to 6.3% from 5.8% in the prior year.
Earnings per share (EPS) was $0.29, compared to a loss of $(0.02) in the prior year.
Adjusted EPS was $0.45, marking a 25.0% increase from the previous year.

In terms of segment performance:

North America Contract: Net sales for the segment were $533.9 million, up 12.1% year-over-year. Operating margin for the segment was 10.7% compared to 3.4% in the prior year. * Adjusted operating margin for the segment was 11.4%, up 200 basis points compared to the prior year.

International Contract: Net sales for the segment were $167.5 million, up 14.4% year-over-year. Operating margin for the segment was 8.1% compared to 6.5% in the prior year. * Adjusted operating margin for the segment was 8.5%, down 60 basis points year-over-year.

Global Retail: Net sales for the segment were $254.3 million, up 6.4% year-over-year. Operating margin for the segment was 0.6% compared to 2.2% in the prior year. * Adjusted operating margin for the segment was 1.2%, down 190 basis points year-over-year.

Looking ahead to the second quarter of fiscal 2026, MillerKnoll expects net sales to range between $926 million to $966 million and adjusted EPS to range between $0.38 to $0.44.

In terms of liquidity, the company reported a liquidity of $480.5 million as of August 30, 2025, reflecting cash on hand and revolving credit facility availability, and issued a $550 million term loan b during the quarter.

The company will host a conference call and webcast to discuss the results on Tuesday, September 23, 2025. Following these announcements, the company's shares moved -4.42%, and are now trading at a price of $19.02. If you want to know more, read the company's complete 8-K report here.

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