MillerKnoll, Inc. (NASDAQ:MLKN) Q1 2024 Earnings Call Transcript

Alex Fuhrman: Hey, guys. Thanks very much for taking my questions. Most of my questions were asked here earlier, but I guess just to — take a look at the full year guidance, I mean, definitely much better-than-expected results in Q1 and guided to for Q2 on the bottom line. Certainly don’t mean this to sound nit-picky or anything, but it looks like the degree to which you beat Q1 estimates and Q2 wasn’t maybe fully flowed through to the full year. Is that just being a little bit conservative? Or are you may be expecting that some of the headwinds you mentioned on a macro basis related to things like housing in China and Europe? Is that expected to offset some of the gains that you’ve seen with gross margin and your North America business maybe in the back half of the year?

Andi Owen: Yes. As I said earlier on, Alex, I think we’re super enthusiastic, but we are also pragmatic and vigilant. I think we live in a very dynamic world right now. And while we have enthusiasm and optimism, we do have China that hasn’t come back as quickly as we like. We have a European consumer who has mortgages where interest rates are not fixed who’s not necessarily back in the wholesale market. So we’re watching these things very closely. And while we feel very strongly about our diversified business model and our ability to offset these things, we want to make sure we have the right mix of enthusiasm and pragmatism.

Alex Fuhrman: Okay. That’s makes a lot of sin. Thanks you very much, Andi.

Andi Owen: Thank you

Operator: There are no further questions. We turn the floor back to President and CEO, Andi Owen for any closing remarks.

Andi Owen: Thank you so much guys for joining us on the call. We really appreciate your continued support of MillerKnoll and we look forward to updating you on our next quarterly call. Have a great night.

Operator: This concludes today’s conference call. You may now disconnect.