MillerKnoll, Inc.

Good evening and welcome to Miller Knowles' Fourth Quarter Earnings Conference Call. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Vice President of Investor Relations, Carola Mingolini.

Good evening and welcome to Miller Knowles' Fourth Quarter Fiscal 2023 Conference Call. I am joined by Andy Owen, Chief Executive Officer, and Jeff Studds, Chief Financial Officer. Also available during the Q&A session is John Michael, President of 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 cause 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 we assume no obligation to update or supplement these statements. We 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 millernol.com. With that, I will turn the call over to Andy.

Thanks, Carola. Good evening, everyone, and thank you so much for joining our call. Our fourth quarter results demonstrate the power of our business model and the ability of our team to seize opportunities and innovate in an uncertain macroeconomic environment. By leveraging our diverse channels, geographies, and brands, we connected with customers around the globe, delivering innovative designs while improving our margin performance and strengthening our balance sheet. As we've shared in the recent quarters, the environment is still challenging. Customers are staying cautious and deliberate about their spending. We continue to see demand softness across our channels, but there is strong performance worth noting in several areas of our business, and our pattern of orders have started to improve. Jeff will highlight that he provides a closer look at our financials. From my seat, I want to highlight that we have done a lot of work to future-proof our business. We were early movers in our industry, combining with two best collective of brands in our space to form an unrivaled portfolio of products, market reach, and innovation. Since then, we've worked to streamline our global operations network across Miller Knoll, moving production and capability efficiently and creating centers of excellence, along with investing in e-commerce and retail, as we know these will drive future growth opportunities. We've prioritized our strong partnership with our dealer network in North America, and that alignment is resulting in positive traction quarter over quarter. We're arming our dealers with the tools they need to sell our collective, from developing a Miller Knoll contract e-commerce site to more dynamic tools that allow customers and specifiers to envision and specify our solutions. Additionally, as we continue to expand our presence globally with our Miller & Old Dealer network, we're taking our collective of brands into high-growth regions such as India, the Middle East, Southeast Asia, and China. This allows us to leverage our capacity to develop, expand, and design solutions that meet the demand of our clients, former and new. While I have no crystal ball, I believe that this year's economic outlook will gradually improve as time progresses. Our efforts to future-proof, plan ahead, and model our business for the successes of tomorrow will serve us well. I was recently in Chicago for Design Days, the largest stateside presentation of our brands to our contract market audience. And the response to our product launches and showrooms was overwhelmingly positive. Having had the opportunity to connect with many of our customers in person, I've come across some key findings. First, While the unpredictability surrounding the return to office persists in North America, we're starting to observe an inflection point. And second, in order for companies to achieve a desired success in their return to office strategies, it's crucial to construct a workplace that revolves around collaboration, wellness, productivity, and flexibility. Products like Herman Miller's new task chair, Asari, as well as the mobile height-adjustable passport work table and the soon-to-be-introduced fold nesting chairs are perfect examples of new innovative designs that will help our clients rebuild their spaces with flexibility and productivity. And while we're an industry leader in workplace design, we're also expanding our solutions into resilient verticals, including healthcare and the public sector. In the healthcare sector specifically, we've been active for over 50 years. However, as Miller Knowles, our scale enables us to bring fully realized spaces to life at a faster pace. During design days, we offered customers a distinctive showroom experience that highlighted some of our healthcare solutions. Witnessing the level of engagement and excitement generated by this space underscores the leadership and momentum we've built in this vertical. For higher education in the public sector, a combined Millernual portfolio presents a comprehensive range of solutions and services, giving us a unique advantage and delivering larger-scale projects for our customers. We're experiencing positive traction in this space as well. As an organization with over a century of success, navigating through varying economic conditions, we have confidence in the long-term health of our industry and the advantages of our business model. We will continue to balance our approach for the long term using a playbook that has served us well through multiple cycles. We'll focus on our customers, we'll be thoughtfully prudent managing our costs, we'll align our teams and talent to our strongest competitive advantages, we'll deliver innovation, and we'll invest for long-term growth opportunities. In the near term, we'll continue to prioritize operating efficiently, focusing on free cash flow, and ensuring our spending aligns with sales and order levels. With that, I want to thank you for your continued partnership with us on this path. And I'll now turn the call over to Jeff for a deeper look at the financials.