Herman Miller Inc. (NASDAQ:MLHR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Herman Miller Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 53.57% to $0.43 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Rose 9.37% to $460 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Herman Miller Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.36. It beat the average revenue estimate of $440.2 million.
Quoting Management: Brian Walker, Chief Executive Officer, stated, “Our fourth quarter earnings were fueled by topline growth and strong margins, driving a significant increase in adjusted earnings per share. Beyond this strong financial performance, we advanced and accelerated our strategy with the acquisition of Maharam. This acquisition creates a highly complementary and leading presence for us in the margin-rich textiles and wall coverings categories, with further opportunities to extend Maharam’s reach into new consumer and international markets. The acquisition was followed by this month’s public introduction of our Living Office vision and the unveiling of multiple new and innovative designs for the office landscape. Collectively our financial performance and strategic actions give us great momentum and a springboard for further success in the year ahead.”
Key Stats (on next page)…