Herman Miller reports Q1 net loss $61.5M; sales up 26% on Knoll acquisition

MILLERKNOLL, INC.

2022-Q1 EPS reported -$0.93 revenue$789,700,000

Net loss of $61.5M ($0.93 diluted EPS); adjusted EPS of $0.49.
Net sales $789.7M (+26% YoY); organic sales +0.4%.
Orders $916.5M (+64.8% total, +34.5% organic); backlog $835.9M (+109%).
Completed acquisition of Knoll during quarter; expects $100M run-rate cost synergies within 2 years.
Board elected to change name to MillerKnoll, subject to shareholder approval at annual meeting.

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