-=Herman Miller (MLHR) reported earnings on Wed 26 June 19 (a/h)

Herman Miller beats by $0.10, beats on revs; guides Q1 EPS above consensus, revs above two analyst estimate

• Reports Q4 (May) earnings of $0.88 per share, $0.10 better than the S&P Capital IQ Consensus of $0.78; revenues rose 8.6% year/year to $671 mln vs the $657.23 mln S&P Capital IQ Consensus.
• Consolidated gross margin in 4Q19 totaled 37.0%, representing a 10 basis point increase from the level reported in the same quarter of last fiscal year.
• Co issues upside guidance for Q1, sees EPS of $0.77-$0.81 vs. $0.76 S&P Capital IQ Consensus; sees Q1 revs of $650-$670 mln vs. $651.55 mln two analyst estimate.
• Commentary: "We were encouraged by broad-based sales and order growth for the quarter, supported by favorable macro-economic conditions and continued traction from our strategic priorities. We also further positioned our Retail business for profitable growth with the opening of three new Design Within Reach studios in the fourth quarter, a lease termination related to an underperforming studio and beginning the transition to a new, state of the art distribution center in Batavia, Ohio..."

Earnings this week : June 24 - 28, 19 (wk 26)

Earnings confirmed for this week

Monday (June 24)

• None

Tuesday (June 25)

• Morning: BNED FDS LEN
• Afternoon: AVAV FDX MU SNX

Wednesday (June 26)

• Morning: ATU BB GIS INFO PAYX SCHN UNF
• Afternoon: FUL MLHR KBH WOR

Thursday (June 27)

• Morning: ACN APOG CAG GMS MKC PDCO SJR WBA
• Afternoon: CAMP NKE PRGS SGH

Friday (June 28) 

• Morning: STZ JKS

Notable earnings reports: Micron (NASDAQ:MU), FedEx (NYSE:FDX), Lennar (NYSE:LEN) and FactSet Research (NYSE:FDS) on June 25; Rite Aid (NYSE:RAD), Blackberry (NYSE:BB), National Beverage (NASDAQ:FIZZ) and General Mills (NYSE:GIS) on June 26; Nike (NYSE:NKE), Walgreen Boots Alliance (NASDAQ:WBA) and ConAgra Brands (NYSE:CAG) on June 27; Constellation Brands (NYSE:STZ) on June 28.

Spotlight on FedEx: Analysts expect FedEx (FDX) to report revenue of $17.88B and EPS of $4.39 with its FQ4 report. JPMorgan turned some heads by predicting that FedEx would clear the decks with below-consensus guidance across the board. FedEx conference call topics will run the course from fuel costs, tariff headwinds, wage inflation pressure to Amazon. Naturally, shares of UPS (NYSE:UPS) could see a jolt if FedEx surprises to the upside or downside with guidance. So far this year, shares of FedEx are up 4.1% to trail the 5.7% gain for UPS.

Playing Nike earnings: Nike (NKE) is expected to report revenue of $10.2B and EPS of $0.66 when it reports on July 27. Oppenheimer thinks Nike's stepped up investment spending could drag down FQ4 profit and the company's full-year guidance to act as a near-term negative catalyst for shares. "We recommend clients use any share price weakness in NKE as a buying opportunity. In our view, higher costs at the company are strategic in nature and will help to further enhance the prowess of the brand, over time," advises the firm. Foot Locker (NYSE:FL), Under Armour (NYSE:UAA) and Adidas (OTCQX:ADDYY) have all been known to swing up or down with Nike on earnings day.

=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. 

Earnings expected this week : Sept 17 - 21, 18 (wk 38)

Earnings confirmed for this week

Monday (Sept 17) 

• Morning: None
• Afternoon: FDX  ORCL

Tuesday (Sept 18)

• Morning: APOG AZO CBRL GIS 
• Afternoon: None

Wednesday (Sept 19)

• Morning: CPRT
• Afternoon: MLHR  RHT

Thursday (Sept 20)

• Morning: DRI   THO
• Afternoon: MU  SCS  UNFI

Friday (Sept 21)

• Morning: None

====Herman Miller (MLHR) reported earnings on Mon 2 July 18 (a/h)

Herman Miller beats by $0.08, beats on revs; guides Q1 EPS in-line, revs mostly above consensus; increases dividend 10% 

• Reports Q4 (May) earnings of $0.66 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.58; revenues rose 7.1% year/year to $618 mln vs the $601.1 mln Capital IQ Consensus.
• Co issues guidancefor Q1, sees EPS of $0.63-0.67, excluding non-recurring items, vs. $0.65 Capital IQ Consensus Estimate; sees Q1 revs of $610-630 mln vs. $612.60 mln Capital IQ Consensus Estimate. 
• Co also announced an increase in its quarterly cash dividend to $0.1975 per share payable in October 2018. This change represents an increase of 10% from the previous dividend payout of $0.18 per share.

Herman Miller, Inc.(NASDAQ:MLHR)

• Div/yield 0.17/2.24

  

Address

855 E MAIN AVE
ZEELAND, MI 49464-0302
United States

Website 

http://www.hermanmiller.com

Key stats and ratios

	Q1 (Mar '17)	2016
Net profit margin	4.29%	6.05%
Operating margin	6.67%	9.34%
EBITD margin	-	11.68%
Return on average assets	7.07%	11.29%
Return on average equity	15.70%	28.96%
Employees	7,607