MillerKnoll has stopped new orders and fulfillments in Ukraine as well due to safety concerns. The company indicated that it currently sells products to six dealers in the affected countries, two in Ukraine, two in Russia and two in Belarus.
The company had $1.1 billion in orders during the third quarter 2022, up 93.6% compared with the prior year, not factoring in the increase from the Herman Miller and Knoll merger that closed in July of last year. The company’s order backlog is substantial at $1 billion. MillerKnoll’s unaudited adjusted gross margin is 32.9% for the quarter.
Third quarter sales were $1 billion, a 20.3% organic increase from last year’s third-quarter sales totals. Adjusted earnings per share dropped 57%, from 65 cents per diluted share in Q3 2021 to 28 cents per diluted share.