MillerKnoll Inc. (MLKN) reports earnings

The report was filed on March 31, 2025

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MillerKnoll Inc. (MLKN-9.76%) has submitted its 10-Q filing for the quarterly period ended March 1, 2025.

The filing reports net sales of $876.2 million for the quarter, a slight increase from $872.3 million in the same quarter of the previous year. This growth was attributed to increased sales volume in the Global Retail and North America Contract segments.

Operating expenses rose significantly to $414.6 million from $294.2 million, primarily due to $130 million in impairment charges related to goodwill and indefinite-lived intangible assets.

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The company reported an operating loss of $82.2 million, a substantial decline from operating earnings of $42.8 million in the prior year, largely driven by the aforementioned impairment charges.

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Net loss for the quarter was $11.7 million, compared to net earnings of $23.1 million in the previous year. The loss was influenced by increased operating expenses and impairment charges.

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Cash provided by operating activities was $138.4 million, while cash used in investing and financing activities was $60.3 million and $127.6 million, respectively.

The company had a working capital of $1,140.6 million as of March 1, 2025. MillerKnoll continues to manage its liquidity through cash on hand and available credit facilities.

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The filing also details a segment reorganization, effective March 1, 2025, which resulted in changes to the reportable segments, including North America Contract, International Contract, and Global Retail.

MillerKnoll anticipates further restructuring and integration expenses as it continues to align operations post-Knoll acquisition.

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The company does not anticipate any significant changes in its financial condition or liquidity in the near term, despite the challenges faced in the current quarter.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MillerKnoll Inc. quarterly 10-Q report dated March 31, 2025. To report an error, please email earnings@qz.com.