MillerKnoll, Inc. (NASDAQ:MLKN) Q2 2024 Earnings Conference Call December 20, 2023 5:00 PM ET

Company Participants

Carola Mengolini - Vice President, Investor Relations

Andi Owen - President and Chief Executive Officer

Jeff Stutz - Chief Financial Officer

John Michael - President, Americas Contracts

Debbie Propst - President, Retail

Conference Call Participants

Reuben Garner - Benchmark Company

Alex Fuhrman - Craig-Hallum Capital Group

Gregory Burns - Sidoti & Company

Budd Bugatch - Water Tower Research

Operator

Good evening and welcome to the MillerKnoll's Quarterly Earnings Conference Call. As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference, Vice President of Investor Relations, Carola Mengolini.

Carola Mengolini

Good evening, and welcome to MillerKnoll's second quarter fiscal 2024 conference call. I am joined by Andi Owen, Chief Executive Officer; and Jeff Stutz, Chief Financial Officer. Also available during the Q&A session is 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 we 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 will turn the call over to Andi. Andi?

Andi Owen

Thanks, Carola, Good evening everyone and thank you for joining our call. MillerKnoll has delivered another quarter of strong financial performance marked by a 28.3% year-over-year increase in adjusted earnings per share.

Our second quarter results speak to the benefits of strategic emphasis we have placed on diversifying our business model. The benefits of our synergy capture and the resilience of our company as we continue to navigate various global challenges. By leveraging the synergies across our collective, and focusing on what is within our control, the team drove year-over-year margin improvement in all three areas of our business again.

And while we faced relative high interest rates and geopolitical concerns, positive signs are emerging throughout our industry, metrics such as project funnel activity, order intake, and recent measures of dealer optimism reflect that CEO confidence is improving.