Herman Miller Sets Sights On Fifth-Straight Earnings Beat

MLHR is scheduled to release earnings on September 29

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Herman Miller, Inc. (NASDAQ:MLHR) produces office furniture, equipment, and home furnishings. The company will step into the earnings confessional in a little over two weeks on Wednesday, September 29 after the markets close. Notably, MLHR outperformed Wall Street's earnings expectations on all four of its most recently released earnings reports.

For the first quarter of fiscal 2021, Herman Miller beat analyst estimates by a margin of $0.98, reporting an EPS of $1.24. For the second quarter, MLHR's beat expectations by a margin of $0.33. For Q3 of fiscal 2021, the brand still beat estimates by a margin of $0.07. For the fourth quarter of fiscal 2021, Herman Miller reported an EPS of $0.56 and beat expectations by a margin of $0.17. Analysts anticipate Herman Miller will report an EPS of $0.53 in the upcoming report near the end of the month.

Herman Miller stock is up 18% in 2021, but has taken a nearly 15% haircut this quarter, and is a ways off its June 10 record high of $51.24. Moreover, Herman Miller stock offers a forward dividend of $0.75 and a dividend yield of 1.87%.

At this time, it appears that Herman Miller stock has the most potential as a long-term value investment. MLHR has a decent price-earnings ratio of 13.95. However, Herman Miller stock also has a forward price-earnings 13.74, meaning the company’s growth is expected to be very limited. This falls in line with MLHR's business performance in recent years.

Since fiscal 2018, Herman Miller's annual revenues have grown 3.5% and net income has grown 35%. Additionally, MLHR experienced a 4% decline in revenue between fiscal 2019 and fiscal 2021. Herman Miller also experienced a $170 million decrease in net income for fiscal 2020, making the company’s fundamentals seem less reliable. In general, there are better value and risk/reward options available on the market than Herman Miller stock right now regardless of the September 29 earnings performance.

 

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