MillerKnoll's stock plummeted 25.98% during intraday trading on Thursday, extending significant losses from the pre-market session.

The sharp decline followed the office-furniture company's disappointing fiscal third-quarter 2026 results, where it reported adjusted earnings per share of $0.43, missing the consensus estimate of $0.45. Revenue for the quarter came in at $926.6 million, also falling short of analyst expectations.

More critically, the company issued a soft outlook for its fiscal fourth quarter that fell below Wall Street's forecasts. MillerKnoll expects adjusted EPS in the range of $0.49 to $0.55 and revenue of $955 million to $995 million, with the midpoints missing analyst expectations. The company attributed the weaker guidance primarily to the ongoing conflict in the Middle East, which it expects will result in minimal shipments to the region and drive up logistics costs, creating an incremental operating expense headwind of approximately $8 million to $9 million. Additional costs associated with new store investments were also cited as pressure on near-term results.