MillerKnoll, Inc. (NASDAQ:MLKN) Q2 2023 Earnings Conference Call December 21, 2022 5:30 PM ET

Company Participants

Kevin Veltman - Senior Vice President

Andi Owen - Chief Executive Officer

Jeff Stutz - Chief Financial Officer

John Michael - President, Americas Contract

Debbie Propst - President, Global Retail

Conference Call Participants

Steven Ramsey - Thompson Research

Reuben Garner - Benchmark

Greg Burns - Sidoti & Company

Rex Henderson - Water Tower Research

Operator

Good evening, and welcome to MillerKnoll’s Second Quarter Earnings Conference Call. As a reminder, this call is being recorded.

I would now like to introduce your host for today’s conference, Senior Vice President, Kevin Veltman.

Kevin Veltman

Good evening. Thanks for joining us today. I’m joined by Andi Owen, Chief Executive Officer; and Jeff Stutz, Chief Financial Officer. Also available during the Q&A are John Michael, President of Americas Contract; and Debbie Propst, President of Global Retail.

Before I turn the call over to Andi, please remember our Safe Harbor regarding forward-looking information. During the call, management may discuss information that is forward-looking and involves known and unknown risks, uncertainties and other factors which may cause the actual results to be different than those expressed or implied.

Please evaluate the forward-looking information in the context of these factors, which are detailed in today’s press release. The forward-looking statements are as of today and assume no obligation to update or supplement these statements.

We may also refer to certain non-GAAP financial metrics, which are reconciled and described in our press release posted on our Investor Relations website at millerknoll.com.

With that, I’ll turn the call over to Andi.

Andi Owen

Thanks, Kevin. Good evening, everyone, and thanks again for joining the call. As MillerKnoll, we know that one of our strongest assets is our collective of design brands offered across multiple channels to customer segments around the globe.

Our second quarter results speak to the benefits of the strategic emphasis that we have placed on diversifying our business model over the past few years and the resilience of that model and shifting economic conditions.

This strategic direction includes both the expansion of our global retail business to now over $1 billion in annual revenue and the combination of Herman Miller and Knoll, which creates even further opportunities to bring our collective of brands to new channels and geographies.

We’ve led the way on industry consolidation with our acquisition of Knoll, which has created the opportunity to leverage our increased scale to capture synergies, further build capabilities and refine processes and organizational structures to maximize efficiency and agility. Continued synergy opportunities ahead will help us further optimize our cost structures as we navigate softer order levels across our business segments.