Key Points
MillerKnoll flipped to a profit last night, but this wasn't enough to please investors.
Sales, earnings, and guidance all disappointed at MillerKnoll.
- 10 stocks we like better than MillerKnoll ›
Furniture company stock MillerKnoll (NASDAQ: MLKN) collapsed 21% through 10:15 a.m. ET Thursday, under the weight of an earnings miss that happened last night.
Heading into the company's fiscal Q3 2026 report, analysts forecast MillerKnoll would earn $0.45 per share on sales of $942 million. In fact, the company reported $0.43 per share on sales of only $926.6 million.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Image source: Getty Images.
MillerKnoll Q3 earnings
The news wasn't all bad. Although MillerKnoll may have "missed on sales" for the quarter, it still grew its sales a respectable 6% year over year, while expanding its gross profit margin by 20 basis points and cutting operating costs by 26% -- impressive improvements.
The good news is that these improvements helped to flip MillerKnoll from year-ago operating and net losses to operating and net profits this time around. The bad news is that the company missed on earnings -- and the worse news is that the $0.43 profit it did report was only non-GAAP.
Actual earnings calculated under generally accepted accounting principles (GAAP) for the quarter were only $0.34 per share.
Why investors aren't happy with MillerKnoll
Investors don't seem impressed with this Q3 result, but what about next quarter?
Well, that's the other bad news. Turning to guidance, MillerKnoll says sales will range from $955 million to $995 million. Taken at the midpoint, that's only about a 1% improvement in sales, so a slowdown from MillerKnoll's performance in Q3. Gross margins are expected to improve, however, to about 39% (up 100 basis points sequentially). Non-GAAP earnings should improve to about $0.52 per share.
That's significantly below the $0.59 per share that Wall Street analysts are forecasting, however. No wonder investors are upset.
Should you buy stock in MillerKnoll right now?
Before you buy stock in MillerKnoll, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and MillerKnoll wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $497,659!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,095,404!*
Now, it’s worth noting Stock Advisor’s total average return is 912% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of March 26, 2026.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
