The furniture maker reported $23.6 million net profit in Q4, reversing a $57.1 million loss a year earlier, driven by stronger North American sales.
MillerKnoll posted a $23.6 million net profit for its fiscal fourth quarter, reversing a $57.1 million loss in the same period last year. The company cited improved North American contract business and global retail sales as key drivers of the turnaround.
Quarterly sales rose 4.4 percent to $1 billion, surpassing analyst estimates of $973.9 million. Earnings per share reached 55 cents, beating expectations by 6.8 percent. Annual net sales increased 4.7 percent to $3.84 billion.
Shares surged over 18 percent following the announcement. The board also declared an 18.75-cent quarterly cash dividend, payable July 15.