=Herman Miller (MLHR) reported earnings on Wed 19 Sept 18 (a/h)

Herman Miller beats by $0.04, reports revs in-line; guides Q2 EPS in-line with rev mostly above estimates 

• Reports Q1 (Aug) earnings of $0.69 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.65; revenues rose 7.6% year/year to $624.6 mln vs the $620.73 mln S&P Capital IQ Consensus; broad-based across all segments. New orders in the first quarter of $630.6 million were 6.0% above the prior year level.
• Co issues guidance for Q2, sees EPS of $0.70-0.74, excluding non-recurring items, vs. $0.72 S&P Capital IQ Consensus; sees Q2 revs of $635-655 mln vs. $638.37 mln S&P Capital IQ Consensus. On an organic basis, adjusted for the impact of reclassification related to the new revenue recognition standard, this forecast implies sales growth of 5% compared to the second quarter of the prior year at the mid-point of the range.