MillerKnoll Inc. reported its financial results for the first quarter of fiscal year 2025, which concluded on August 31, 2024. Consolidated net sales for the quarter were $861.5 million, marking a 6.1% decrease year-over-year. Despite the sales decline, new orders in the quarter increased by 2.4% on a reported basis and 3.5% organically, indicating improving demand trends.
The company reported a diluted loss per share of $0.02 for the quarter, compared to diluted earnings per share of $0.22 in the prior year. Adjusted diluted earnings per share stood at $0.36, a slight decrease from $0.37 in the same period last year. Gross margin remained flat at 39.0% year-over-year, demonstrating stability in profitability despite lower revenue levels.
Looking ahead, MillerKnoll provided guidance for the second quarter of fiscal year 2025, projecting net sales between $950 million and $990 million. Adjusted diluted earnings per share for the second quarter are expected to range from $0.51 to $0.57. The company maintained its full-year fiscal 2025 adjusted earnings guidance at $2.20 per share, supported by positive trends in global contract demand and an increased backlog position.
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