MillerKnoll Stock Plunges 17% on Earnings Miss, Triggering Investor Investigation

Stock Plummets 17% After Q3 Earnings Miss

MillerKnoll (MLKN) stock plunged 17% in after-hours trading after the company announced its fiscal third-quarter 2026 results on March 25. The furniture maker reported adjusted earnings of $0.43 per share on revenue of $926.6 million. While revenue grew 5.8% year-over-year, both the top and bottom lines failed to meet consensus estimates, sparking a sharp sell-off.

Management noted that performance was partially impacted by severe weather in January, which led to store closures and lower retail traffic. Despite the challenges, the company highlighted underlying demand, with consolidated orders growing 9.2% to $932 million.

Middle East Conflict to Shave $9M from Q4 Results

Looking ahead, MillerKnoll issued cautious guidance for its fourth quarter, projecting a significant negative impact from the Middle East conflict. The company expects the disruption to reduce results by $8 million to $9 million, translating to a $0.09 to $0.10 hit to adjusted earnings per share. This forecast anticipates minimal shipments from a $12 million backlog of Middle East-related orders and accounts for higher logistics costs tied to oil price volatility.

Factoring in these headwinds, the company guided for Q4 net sales between $955 million and $995 million, with adjusted diluted EPS expected to land between $0.49 and $0.55. This guidance also includes $3.5 million to $4.5 million in investments for new store openings and global initiatives.

Law Firm Launches Investigation After Stock Collapse

In response to the sharp stock price decline, law firm Holzer & Holzer, LLC announced on March 26, 2026, that it had launched an investigation into MillerKnoll. The inquiry will focus on whether the company and its executives complied with federal securities laws and made potentially misleading statements to investors prior to the earnings release. This legal scrutiny introduces an additional layer of risk for shareholders, as such investigations can precede class-action lawsuits and lead to significant legal and financial costs.