MillerKnoll Q3 Revenue Climbs 5.7% to $926.6M as Profit Swings Positive
MillerKnoll, Inc. (NASDAQ: MLKN), a furniture and interior design company, posted net income of $23.5 million for the quarter ending February 28, reversing a $12.7 million loss in the same period last year.
MillerKnoll, Inc., a designer and manufacturer of interior furnishings for office, healthcare, educational, and residential settings, reported net income of $23.5 million for the three months ending February 28, 2026, swinging from a net loss of $12.7 million in the same quarter a year earlier. Revenue rose 5.7% to $926.6 million from $876.2 million. Read more earnings reports.
Operating income for the quarter reached $44.9 million, a sharp reversal from an operating loss of $82.2 million in the prior-year period. Gross profit expanded to $352.9 million from $332.4 million, while operating expenses fell to $308.0 million from $414.6 million.
For the nine months ending February 28, MillerKnoll generated net income of $67.9 million on revenue of $2.84 billion, compared to net income of $20.2 million on revenue of $2.71 billion in the same period last year. Nine-month operating income improved to $146.9 million from an operating loss of $4.5 million.
The company posted diluted earnings per share of $0.34 for the quarter, compared to a loss per share of $0.19 in the prior year. For the nine-month period, diluted EPS came in at $0.98, up from $0.29.
Balance Sheet and Cash Flow
Total assets stood at $3.95 billion as of February 28, effectively flat compared to $3.95 billion at fiscal year-end May 31, 2025. Cash and cash equivalents declined to $174.6 million from $193.7 million. Inventory increased to $491.8 million from $447.5 million, while accounts receivable fell to $320.4 million from $350.2 million.
Total liabilities decreased to $2.55 billion from $2.62 billion at year-end. Stockholders' equity rose to $1.34 billion from $1.28 billion. Long-term debt remained at $200.0 million.
Cash from operations for the nine months totaled $135.1 million, down slightly from $138.4 million in the prior-year period. Cash used in investing activities increased to $77.8 million from $60.3 million, while cash used in financing activities declined to $83.8 million from $127.6 million.
Key Financial Metrics
| Metric | Q3 FY2026 | Q3 FY2025 | 9M FY2026 | 9M FY2025 |
|---|---|---|---|---|
| Revenue | $926.6M | $876.2M | $2,837.5M | $2,708.1M |
| Gross Profit | $352.9M | $332.4M | $1,093.2M | $1,045.7M |
| Operating Income (Loss) | $44.9M | ($82.2M) | $146.9M | ($4.5M) |
| Net Income (Loss) | $23.5M | ($12.7M) | $67.9M | $20.2M |
| Diluted EPS | $0.34 | ($0.19) | $0.98 | $0.29 |
The company had 68.4 million common shares outstanding as of February 28, 2026, compared to 67.8 million at fiscal year-end. Research and development expenses for the quarter totaled $20.6 million, down from $22.3 million, while selling, general and administrative expenses rose to $285.5 million from $258.1 million.