MillerKnoll Inc. announced its financial results for the second quarter of fiscal year 2025, which concluded on November 30, 2024. Consolidated net sales reached $970.4 million, representing a 2.2% increase on a reported basis and a 2.4% organic increase year-over-year. However, new orders in the quarter decreased by 2.3% reported and 1.9% organically compared to the prior year.
The company reported diluted earnings per share of $0.49 for the quarter, an increase from $0.45 in the prior year. Adjusted diluted earnings per share were $0.55, a decrease from $0.59 in the same period last year. Gross margin for the quarter was 38.8%, a slight decline from 39.2% in the previous year, primarily due to product mix.
For the third quarter of fiscal year 2025, MillerKnoll expects net sales to range between $903 million and $943 million, with adjusted diluted earnings per share projected between $0.41 and $0.47. The company narrowed its full-year fiscal 2025 adjusted earnings per share guidance to $2.11-$2.17, modestly lowering the midpoint from its previous estimate of $2.20, citing slower-than-expected macroeconomic improvements.
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