Updating Earnings Estimates for 2QFY23 and FY23; Correcting Our Errors in Original Estimates Ahead of Quarter-End
KEY POINTS Ahead of the 2QFY23 quarter-end, we are updating our earnings estimates to correct our misunderstanding and mistake in the original...
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Updating Earnings Estimates for 2QFY23 and FY23; Review of Strengths and Challenges Facing Steelcase in the Near and Intermediate Term
KEY POINTS Steelcase reported results for its 1QFY23 quarter ending May 27 in June. Quarterly results were better than expected, ending a string...
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Initiating Coverage: Two Storied Companies Combine – An In-Depth Examination of Herman Miller and Knoll, Together as MillerKnoll
KEY POINTS Herein, we introduce coverage of MillerKnoll, Inc. (MLKN), the resulting corporate entity (and stock ticker) after Herman Miller...
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1Q23 Sales and Operating Results Beat; 2Q23 Guidance Below Estimates; Energy Costs the Culprit
KEY POINTS After market close on June 22, Steelcase reported 1Q23 results, which ended May 27. In its earnings release, management also provided...
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Updating Estimates After 4Q22 Report; Backlog Elevated; Pricing To Gain Traction; Earnings Improving
KEY POINTS Highlights from 4Q22 included: 1) Consolidated sales were $753.1 million, up 11.2% versus 4Q21, with growth across all segments, and...
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