-=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..."