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Herman Miller(NASDAQ:MLHR) stock fell by 6.13% on Thursday after the company reported its Q1 earnings results on Wednesday, September 29, 2021 at 04:05 PM.
Here's what investors need to know about the announcement.
Herman Miller missed their estimated earnings by 7.55%, which did not surprise analysts.
Revenue was up $162,900,000 from the same period last year.
Last quarter the company beat on EPS by $0.17, which was followed by a 6.92% drop in the share price the next day.
Here's a look at Herman Miller's past performance and the resulting price change:
| Quarter | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|
| EPS Estimate | 0.53 | 0.39 | 0.58 | 0.56 | |
| EPS Actual | 0.49 | 0.56 | 0.65 | 0.89 | 1.24 |
| Price Change % | -6.13% | -6.92% | -0.31% | -13.14% | 33.47% |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Herman Miller management provided guidance for their next quarter, expecting earnings between $0.55 and $0.61 per share for the nextquarter.
This represents a 18.37% in quarter-over-quarter growth for Herman Miller, a bullish signal to many investors.
To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.
Posted In: MLHR
