MillerKnoll, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to the Miller-Knowell First Quarter Fiscal 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, please press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again press star one. We ask that you please limit yourself to one question and one follow-up. Thank you. Ken Dipty, the Vice President of Investor Relations, you may begin your conference.

Good evening, and welcome to Miller & Knowles' first quarter conference call. I'm joined by Andy Owen, Chief Executive Officer, and Jeff Stutz, Chief Financial Officer. Also available during Q&A are Debbie Probst, President, Global Retail, and John Michael, President, America's Contract. Before I turn the call over to Andy, please remember our safe harbor regarding forward-looking information. During the call, management may discuss information that is forward-looking and involves known and unknown risks, uncertainties, and other factors which may call the actual results to be different than those expressed or implied. Please evaluate the forward-looking information in the context of these factors, which are detailed in today's press release. The forward-looking statements are as of today and it assumes no obligation to update or supplement these statements. You may also refer to certain non-GAAP financial metrics which are reconciled and described in our press release posted on our investor relations website at MillerKnoll.com. With that, I'll turn the call over to Andy.

Thanks, Ken. Good evening, everyone, and thank you for joining our call. MillerKnoll was created to lead our industry and deliver results by offering customers modern design solutions for their workspaces and homes through a unique collective of brands and channels. We continue to leverage and build on the competitive advantages we established during our first year as MillerKnoll. This quarter, we successfully launched our Miller Mill sales organization and dealer network, introduced new products at the company's first design days, and continued to capture synergies through our integration work. First quarter results are a testament to our diversified global business. Our multi-channel, multi-brand collective is designed to sustain shifting economic conditions and drive growth. During the first quarter, we experienced the impact of economic softening in various parts of the world. And our results reflect how we can drive strong performance in different segments and regions to balance the performance in others. Around the globe, we hear from customers that the workplace matters. Companies see the benefits of a hybrid model and want to bring teams together for culture, collaboration, and productivity. However, the pace at which companies are placing orders and enhancing their workspace varies based on location and sector. In the America segment, we posted healthy growth in revenue compared to last year, but saw a slowdown in order activity. We are feeling the impact of the economic uncertainty it's having on our customers, particularly in the U.S. They are forcing concerns about inflation, piloting smaller orders, and requiring more revisions to projects as they learn to operate in a mostly hybrid environment. Given this macroeconomic backdrop, we are proactively taking action, including continued pricing increases and careful management of discretionary spending. Our international contract and specialty segment sales and orders continue to grow after a strong fourth quarter. Our global presence and the ability to take brands into new markets is an important advantage that we will continue to leverage. The international dealer cross-sale pilot now includes 41 dealers from 17 countries on three continents. We plan to expand it to India, the Middle East, and Africa later this year. Holly Hunt. which appeals to a premium residential customer that is more resilient to inflationary pressures. And Spinnibeck Hiltzfeldt, whose customized solutions help our customers enhance the acoustics and walls of their spaces, both delivered record sales leverage for the quarter. In addition, Geiger and Datesweiser generated sales growth from their elevated designs for executive offices and conference rooms. Turning to product, we've introduced more than 15 new products this year, including new task chairs from both Herman Miller and Knoll, an innovative inlet screen from Knoll, new textiles from Mehera Menol, new outdoor and ancillary collections from Noto, and not one cafe tables and stools. In addition, we've launched new takes on iconic pieces, including a fun and vibrant collaboration with Ralph and Meta Hay on select Eames pieces, and the reimagination of the Eames shell chair, which is now available in 100% recycled plastic. These new products reflect innovation in design and functionality, and our commitment to delivering on our 2030 sustainability goals. Whether it's incorporating more planet-healthy materials, using advanced manufacturing practices, or reducing our packaging, we are seeing momentum across all areas of our business to lower our carbon footprint and design out waste. We also launched the Miller Knoll Foundation. This philanthropic platform unites the strength of our legacy foundations with programs dedicated to engaging underrepresented youth in art and design, advancing equity in Miller Knoll communities worldwide, and protecting our planet through sustainable design. In addition, we continue to deliver on our commitment to diversity, equity, and inclusion through ongoing education across our company about unconscious bias and inclusive spaces, the sponsorship of new CEO Action Fellows, and new diversity and design programs. I have confidence in the programs and innovation we are pioneering across our collective. We are actively managing all facets of our business with close attention to market drivers, economic conditions, and local market interests. We are prepared for the road ahead. With that, I'll turn it over to Jeff, who will discuss the financial results in greater detail before we open it up for questions.