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.

Earnings

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.

Past Earnings Performance

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:

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).

Guidance

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.

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