Why MillerKnoll Stock Crashed Today

By Rich Smith – Mar 26, 2026 at 10:47AM ESTKey PointsMillerKnoll flipped to a profit last night, but this wasn't enough to please investors.Sales, earnings, and guidance all disappointed at MillerKnoll.Furniture company stock MillerKnoll (MLKN 22.57%) collapsed 21% through 10:15 a.m. ET Thursday, under the weight of an earnings miss that happened last night. Heading into the company's fiscal Q3 2026 report, analysts forecast MillerKnoll would earn $0.45 per share on sales of $942 million. In fact, the company reported $0.43 per share on sales of only $926.6 million. Image source: Getty Images. MillerKnoll Q3 earnings The news wasn't all bad. Although MillerKnoll may have "missed on sales" for the quarter, it still grew its sales a respectable 6% year over year, while expanding its gross profit margin by 20 basis points and cutting operating costs by 26% -- impressive improvements. The good news is that these improvements helped to flip MillerKnoll from year-ago operating and net losses to operating and net profits this time around. The bad news is that the company missed on earnings -- and the worse news is that the $0.43 profit it did report was only non-GAAP. Actual earnings calculated under generally accepted accounting principles (GAAP) for the quarter were only $0.34 per share. ExpandNASDAQ: MLKNMillerKnollToday's Change(-22.57%) $-4.37Current Price$14.99Key Data PointsMarket Cap$1.3BDay's Range$14.33 - $15.6152wk Range$13.77 - $23.18Volume69KAvg Vol556KGross Margin38.67%Dividend Yield3.87% Why investors aren't happy with MillerKnoll Investors don't seem impressed with this Q3 result, but what about next quarter? Well, that's the other bad news. Turning to guidance, MillerKnoll says sales will range from $955 million to $995 million. Taken at the midpoint, that's only about a 1% improvement in sales, so a slowdown from MillerKnoll's performance in Q3. Gross margins are expected to improve, however, to about 39% (up 100 basis points sequentially). Non-GAAP earnings should improve to about $0.52 per share. That's significantly below the $0.59 per share that Wall Street analysts are forecasting, however. No wonder investors are upset. Read NextMar 25, 2026 •By Motley Fool TranscribingMillerKnoll (MLKN) Q3 2026 Earnings TranscriptMar 26, 2026 •By Rick Munarriz2 No-Brainer Dividend Stocks to Buy in 2026Mar 26, 2026 •By Will EbiefungIs Royal Caribbean a Millionaire-Maker Stock?Mar 26, 2026 •By Keith SpeightsBetter Stock to Buy Right Now: Amazon vs. CostcoMar 26, 2026 •By Will HealyThe Smartest Dividend Stock to Buy With $5,000 Right NowAbout the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedMillerKnollNASDAQ: MLKN$14.99(-22.57%)-$4.37*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.