MillerKnoll, Inc. (NASDAQ:MLKN) Q4 2024 Earnings Call Transcript June 26, 2024 5:00 PM ET

Company Participants

Jeff Stutz - CFO
Andi Owen - CEO
John Michael - President, Americas Contract
Debbie Propst - President, Global Retail

Conference Call Participants

Reuben Garner - The Benchmark Company
Greg Burns - Sidoti & Company
Brian Gordon - Water Tower Research
Alex Fuhrman - Craig-Hallum Capital Group

Operator

Good evening and welcome to 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, Chief Financial Officer, Jeff Stutz. Please go ahead.

Jeff Stutz

Thank you. Good evening And welcome to our fourth quarter fiscal 2024 conference call. I'm joined by Andi Owen, Chief Executive Officer. Also available during the Q&A session 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 that 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.

And with that, it's my pleasure to turn the call over to Andi.

Andi Owen

Thanks, Jeff, and thanks, everyone, for joining us tonight. MillerKnoll wrapped up fiscal year 2024 with strong finish. Throughout the year, we anticipated business improvement in the back half, and we shared the actions we took to align our operating costs with the economic environment, to boost demand across contract and retail, and to future-proof our business. I'm proud to report that by leveraging the scale of our collective of brands and our diversified business channels and global operations, our teams delivered significant earnings per share and margin growth in the fourth quarter. In addition, we delivered consolidated organic order growth of 2.9% for the quarter.

Right now, the demand environment for contract and key markets are heading in a positive direction, and we've put ourselves in a strong position to benefit from this shift. We've adjusted our business to remain agile and productive, and we see healthy levels of activity across our business as a result. We're optimistic that a strong quarter and an improving market will contribute to our momentum for the upcoming year. I'd like to share a few highlights about the work underway and then Jeff will provide a closer look at our financials and our outlook.