Why Herman Miller Stock Dropped Today

Shares of Herman Miller (NASDAQ: MLHR) were down 13.8% as of 2 p.m. EST Thursday, after the home and office furnishings specialist posted mixed fiscal second-quarter 2020 results, and followed with disappointing forward guidance.

Herman Miller's quarterly net sales climbed 3.3% year over year to $674.2 million, translating to a 17.3% increase in adjusted (non-GAAP) net income to $0.88 per share. Analysts, on average, were expecting slightly lower earnings of $0.87 per share, but on higher revenue of $695.8 million.

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Source Fool.com