MillerKnoll stock holds steady as Q1 fiscal 2027 earnings test approaches

MillerKnoll stock (ISIN US6005441000) is trading around USD 20.66 on the Nasdaq as of September 20, 2026, with investors focused on the upcoming Q1 fiscal 2027 earnings release and what it will reveal about demand and margins in office furnishings.

Q1 fiscal 2027 earnings expectations

Office furniture manufacturer MillerKnoll Inc. will report its first-quarter fiscal 2027 results before the market open on September 22, 2026, giving interim Chief Executive Jeff Stutz an early test of his ability to manage profit pressure and cost inflation at the company, as Investing.com reported on September 21, 2026.

According to Investing.com on September 21, 2026, analysts expect MillerKnoll to earn USD 0.35 per share in Q1 fiscal 2027 on revenue of USD 940.9 million, both down from a year earlier and marking a sequential decline from the USD 0.55 per share the company posted last quarter.

The revenue estimates imply that Q1 fiscal 2027 revenue would decline about 1.3 percent year on year, reversing the roughly 10.9 percent increase recorded in the same quarter of the prior fiscal year, as highlighted by StockStory on September 21, 2026.

Recent performance and margin backdrop

In the most recent reported quarter prior to Q1 fiscal 2027, MillerKnoll delivered revenue of USD 1.00 billion, which represented a 4.4 percent increase year on year and came in above analysts’ expectations, according to StockStory on September 21, 2026.

That quarter also saw MillerKnoll beat consensus earnings expectations, with earnings per share of USD 0.55 coming in above the prior-year quarter and above analyst estimates, showing the company’s ability to execute amid a challenging cost environment as described by Investing.com on September 21, 2026.

Analysts now expect a step down in profitability, with the projected EPS of USD 0.35 for Q1 fiscal 2027 representing a decline of around 36 percent from the USD 0.55 per share achieved in the previous quarter, underscoring that margin pressure and softer demand are important risks for investors watching MillerKnoll stock ahead of the release, as outlined by Investing.com.

Analyst sentiment and price targets

Despite the near-term earnings pressure, analyst sentiment toward MillerKnoll stock remains cautiously constructive. As of September 20, 2026, two analysts covering the stock maintain an overall Buy consensus rating with an average 12-month price target of USD 35.00, according to Investing.com.

That average target of USD 35.00 stands significantly above the current share price of USD 20.66 as of September 20, 2026, implying upside of about 69 percent if the stock were to reach the consensus target, according to the same Investing.com data.

Within that coverage, StoneX analyst Reuben Garner recently reiterated a Hold rating on MillerKnoll ahead of the results, noting that the company is likely to meet prior guidance assumptions even as margins come under pressure, as Investing.com reported on September 21, 2026.

Stock price level and investor perspective

Per Nasdaq data published on Investing.com, MillerKnoll stock closed at USD 20.66 on the Nasdaq on September 20, 2026, with the same level cited as the previous close. At that price, the shares sit well below the average analyst price target of USD 35.00, and the implied 69 percent upside highlights that the upcoming Q1 fiscal 2027 earnings release could be a key catalyst in either validating or challenging those expectations.

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