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. Shares are down 1%.
Herman Miller Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.16% to $0.43 in the quarter versus EPS of $0.38 in the year-earlier quarter.
Revenue: Rose 4.09% to $468.1 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 $0.38. It beat the average revenue estimate of $465.1 million.
Quoting Management: Brian Walker, Chief Executive Officer, stated, “This quarter’s performance reflects continued progress in the execution of our strategy, with a strong contribution from the higher margin growth categories and related channels where we have been steadily expanding our presence. It also reflects operating improvements we have implemented in some of our operations that have been underperforming. These results demonstrate that our strategy of innovation, diversification, and operational excellence is working.”
Key Stats (on next page)…
Revenue increased 1.78% from $459.9 million in the previous quarter. EPS were the same at $0.43 as the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.50 to a profit $0.45. For the current year, the average estimate has moved down from a profit of $1.76 to a profit of $1.67 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)