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Get filing alertsMillerKnoll reports 4.4% Q4 sales growth, announces interim CEO as leadership transitions
Filed June 24, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
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Jeff Stutz, Chief Operating Officer, steps into interim CEO role; company recorded $2.6 million in transition costs during the quarter as leadership changes at a pivotal time for the business.
Exhibit 99.1 view on EDGAR → -
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Q4 net sales reached $1,004.2 million, up 4.4% year-over-year, with gross margin improving 20 basis points to 39.4%; diluted EPS of $0.34 versus prior year loss of $0.84.
Exhibit 99.1 view on EDGAR → -
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FY2027 guidance projects full-year sales of $3.93-$4.13 billion with adjusted diluted EPS of $1.85-$2.15; Q1 EPS expected at $0.33-$0.39 on sales of $928-$968 million.
Exhibit 99.1 view on EDGAR → -
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Company recorded $8.1 million in Q4 restructuring charges for workforce reductions and facility consolidation, bringing full-year FY2026 restructuring costs to $13.5 million.
Exhibit 99.1 view on EDGAR → -
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Liquidity stands at $571.7 million with net debt-to-EBITDA ratio of 2.80x; operating cash flow of $64.9 million in Q4, down from $70.9 million prior year.
Exhibit 99.1 view on EDGAR →
Summary
MillerKnoll reported fourth quarter fiscal 2026 results showing continued sales momentum with 4.4% revenue growth to $1,004.2 million, though operating margin compressed to 5.1% from 5.7% due to higher operating expenses. The company swung to profitability with diluted EPS of $0.34 versus a loss of $0.84 in the prior year quarter. Concurrent with the earnings release, the company announced a CEO transition with Chief Operating Officer Jeff Stutz stepping into the interim CEO role, incurring $2.6 million in transition costs.
The company provided fiscal 2027 guidance projecting full-year sales of $3.93-$4.13 billion and adjusted diluted EPS of $1.85-$2.15, representing modest growth from fiscal 2026's $3.84 billion in sales and $1.32 in diluted EPS. Management continues restructuring efforts, recording $8.1 million in Q4 charges for workforce reductions and facility consolidation. With liquidity of $571.7 million and a net debt-to-EBITDA ratio of 2.80x, the balance sheet remains stable as the company navigates the leadership transition while pursuing improved profitability.
Section-by-Section Diff
Event · Exhibit 99.1
MillerKnoll reported Q4 FY2026 results with 4.4% sales growth, announced CEO transition, and provided FY2027 guidance.
Added in current filing · view on EDGAR →
Net sales $1,004.2 $961.8 4.4 % $3,841.7 $3,669.9 4.7 %
Gross margin %39.4 %39.2 %38.8 %38.8 %
Operating expenses $344.2 $321.9 6.9 % $1,290.5 $1,372.1 (5.9)% ... Operating earnings %5.1 %5.7 %5.2 %1.4 % ... Earnings (loss) per share - diluted(1) $0.34 $(0.84)140.5 % $1.32 $(0.54)344.4 %
MillerKnoll reported fourth quarter net sales of $1,004.2 million, up 4.4% year-over-year, with gross margin improving 20 basis points to 39.4%. Operating margin declined to 5.1% from 5.7% due to higher operating expenses. Diluted earnings per share was $0.34 compared to a loss of $0.84 in the prior year quarter. Full fiscal year 2026 sales reached $3,841.7 million, up 4.7%, with operating margin improving to 5.2% from 1.4% in fiscal 2025.
Added in current filing · view on EDGAR →
I am honored to be stepping into the interim CEO role at an important time for the Company, and I am eager to help lead this business alongside a deeply tenured and highly aligned team of senior leaders with a shared desire to elevate our performance as a company," said Jeff Stutz, Chief Operating Officer and incoming interim CEO.
Jeff Stutz, Chief Operating Officer, is stepping into the interim CEO role. The company recorded $2.6 million in CEO transition costs during the quarter. This leadership change occurs as the company begins fiscal year 2027 with plans to drive improved profitability and strengthen the balance sheet.
Added in current filing · view on EDGAR →
Q1 FY2027 | Net sales $928 million to $968 million | Gross margin %38.7% to 39.7%
Adjusted operating expenses* $316 million to $326 million
Interest and other expense, net $15 million to $16 million
Adjusted effective tax rate* 24% to 26%
Adjusted earnings per share - diluted* $0.33 to $0.39
Full Year FY2027
Net sales $3.93 billion to $4.13 billion
Adjusted earnings per share - diluted* $1.85 to $2.15
MillerKnoll provided fiscal 2027 guidance with first quarter net sales expected between $928 million and $968 million and adjusted diluted EPS of $0.33 to $0.39. For the full fiscal year 2027, the company expects net sales of $3.93 billion to $4.13 billion and adjusted diluted EPS of $1.85 to $2.15. The company also plans to open 14 to 18 new retail stores and expects capital expenditures of $125 million to $135 million.
Added in current filing · view on EDGAR →
Liquidity, as of May 30, 2026, of $571.7 million reflected cash on hand and Revolving Credit Facility availability ... Cash flow from operations of $64.9 million, compared to $70.9 million in Q4 last year ... Net debt-to-EBITDA ratio, as defined by our Credit Facility, of 2.80x
MillerKnoll ended the quarter with liquidity of $571.7 million and generated $64.9 million in operating cash flow. The net debt-to-EBITDA ratio was 2.80x. Near-term debt maturities include $25.8 million in fiscal 2027, $76.2 million in fiscal 2028, and $76.2 million in fiscal 2029. The company declared a quarterly dividend of $0.1875 per share payable July 15, 2026.
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