HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Taiwan, and Singapore. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, Lamex, and HNI India brands. This segment sells its products through independent dealers, wholesalers, office product distributors, e-Commerce retailers, and wholesalers, as well as directly to end-user customers; and federal, state, and local governments. The Residential Building Products segment provides various gas, wood, electric, and pellet-fueled fireplaces; inserts; stoves; facings; and accessories primarily for home use under the Heatilator, Heat & Glo, Majestic, Monessen, Quadra-Fire, Harman, Vermont Castings, PelPro, and Stellar Hearth brand names. This segment markets its products through independent dealers and distributors, and corporation-owned distribution and retail outlets. The company was incorporated in 1944 and is headquartered in Muscatine, Iowa.
IPO Year:
Exchange: NYSE
Website: hnicorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/23/2023 | Buy | Sidoti | |
| 3/9/2023 | $34.00 | Neutral → Buy | Sidoti |
| 8/1/2022 | $38.00 | Buy → Neutral | Sidoti |
HNI Corporation (NYSE:HNI) announced today Marshall H. Bridges notified the Corporation on September 27, 2024, of his decision to retire as Senior Vice President and Chief Financial Officer (CFO), effective December 28, 2024. On October 1, 2024, the Board of Directors appointed Vincent Paul (VP) Berger II as Executive Vice President (EVP) and CFO, effective December 29, 2024. Mr. Berger, age 52, is a 27-year HNI member, serving as EVP and President of Hearth and Home Technologies since 2016. Mr. Berger is a certified public accountant and an experienced business executive with more than 30 years of experience in various finance, operational, and leadership roles. Following his retirement
HNI Corporation (NYSE:HNI) announced the election of David Roberts to the Corporation's Board of Directors. Mr. Roberts is the President and Chief Executive Officer, since 2018, of Verra Mobility Corporation (VRRM), a global leader in smart mobility technologies. He joined Verra Mobility in 2014 as its Chief Operating Officer. Mr. Roberts brings to the Board expertise in technology, innovation, finance, entrepreneurship, strategy, and general management developed over a 30-year career. He will join the Board's Public Policy and Corporate Governance Committee. "We are delighted to welcome David to our Board of Directors," said Jeff Lorenger, Chairman, President, and Chief Executive Offic
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HNI (NYSE:HNI) reported quarterly earnings of $0.79 per share which beat the analyst consensus estimate of $0.61 by 29.51 percent. This is a 43.64 percent increase over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $623.70 million which missed the analyst consensus estimate of $637.82 million by 2.21 percent. This is a 10.68 percent increase over sales of $563.50 million the same period last year.
Benchmark analyst Reuben Garner maintains HNI (NYSE:HNI) with a Buy and raises the price target from $54 to $57.
HNI plans to consolidate production into its other North American facilities. HNI estimates the consolidation will save approximately $11 million annually once fully mature in 2026. Savings realized in 2025 are expected to be $8 to $9 million. HNI anticipates charges resulting from the consolidation will impact pre-tax earnings by an estimated $10.3 million in 2024 and 2025, including $1.5 million of non-cash charges. The following table lists the estimated composition and timing of these charges:
Benchmark analyst Reuben Garner maintains HNI (NYSE:HNI) with a Buy and raises the price target from $50 to $54.
Gainers Ryde Group (AMEX:RYDE) shares rose 17.2% to $3.89 during Monday's pre-market session. The company's market cap stands at $74.3 million. Pineapple Energy (NASDAQ:PEGY) stock moved upwards by 10.38% to $0.07. The market value of their outstanding shares is at $4.4 million. Enovix (NASDAQ:ENVX) stock moved upwards by 7.58% to $6.95. The market value of their outstanding shares is at $1.1 billion. Ault Alliance (AMEX:AULT) shares increased by 7.5% to $0.31. The market value of their outstanding shares is at $9.1 million. HNI (NYSE:HNI) stock rose 5.88% to $45.0. The market value of their outstanding shares is at $2.1 billion. As per the press release, Q1 earnings came out today. Ai
HNI (NYSE:HNI) reported quarterly earnings of $0.37 per share which beat the analyst consensus estimate of $0.18 by 105.56 percent. This is a 184.62 percent increase over earnings of $0.13 per share from the same period last year. The company reported quarterly sales of $588.00 million which beat the analyst consensus estimate of $574.56 million by 2.34 percent. This is a 22.73 percent increase over sales of $479.10 million the same period last year.
By the end of today, March 06, 2024, HNI (NYSE:HNI) is set to deliver a dividend payout of $0.32 per share, equating to an annualized dividend yield of 2.97%. Shareholders who owned the stock prior to the ex-dividend date on February 23, 2024 will receive this payout. HNI Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:nth-child(even) {
Kimball International solidly accretive; estimated synergies move higher. Kimball International ("KII") added approximately $16 million to fourth quarter operating profit while generating an operating profit margin of approximately 11 percent. KII also added an estimated $0.07 to fourth quarter non-GAAP EPS. The Corporation now expects to achieve total annual cost synergies of $35 million. This is up from previous expectations of at least $25 million, which is now expected to be achieved in 2024—well ahead of the initially
HNI (NYSE:HNI) reported quarterly adjusted earnings of $0.98 per share which beat the analyst consensus estimate of $0.82 by 19.51 percent. This is a 55.56 percent increase over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $679.80 million which missed the analyst consensus estimate of $684.85 million by 0.74 percent. This is a 19.49 percent increase over sales of $568.90 million the same period last year.
Sidoti resumed coverage of HNI with a rating of Buy
Sidoti upgraded HNI from Neutral to Buy and set a new price target of $34.00
Sidoti downgraded HNI from Buy to Neutral and set a new price target of $38.00
Sidoti upgraded HNI from Neutral to Buy and set a new price target of $48.00
Sidoti & Co. upgraded HNI from Neutral to Buy and set a new price target of $48.00
Sidoti upgraded HNI from Neutral to Buy
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HNI Corporation (NYSE:HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on December 2, 2024, to shareholders of record at the close of business on November 18, 2024. About HNI Corporation HNI Corporation (NYSE:HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is
Double-digit EPS growth fueled by profit transformation and synergy acceleration Delivered strong third quarter EPS, GAAP $0.98 (+23% YoY) / non-GAAP $1.03 (+11% YoY) Workplace Furnishings segment operating margin (GAAP and non-GAAP) reached a 20-year high Residential Building Products segment profit grew in the third quarter despite cyclical revenue pressures Elevated earnings growth visibility extends through 2026 from initiatives already in progress Near-term volume pressures expected to negatively impact fourth-quarter results HNI Corporation (NYSE:HNI) today announced net sales for the third quarter ended September 28, 2024 of $672.2 million and net income of $47.5 million.
HNI Corporation (NYSE:HNI) announced today Marshall H. Bridges notified the Corporation on September 27, 2024, of his decision to retire as Senior Vice President and Chief Financial Officer (CFO), effective December 28, 2024. On October 1, 2024, the Board of Directors appointed Vincent Paul (VP) Berger II as Executive Vice President (EVP) and CFO, effective December 29, 2024. Mr. Berger, age 52, is a 27-year HNI member, serving as EVP and President of Hearth and Home Technologies since 2016. Mr. Berger is a certified public accountant and an experienced business executive with more than 30 years of experience in various finance, operational, and leadership roles. Following his retirement
HNI Corporation (NYSE:HNI) will host its quarterly conference call for investors to discuss third quarter fiscal 2024 results on: Tuesday, October 29, 2024 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at https://investors.hnicorp.com/events-and-presentations. A replay of the webcast and call will be made available from Tuesday, October 29, 2024, 1:00 p.m. (Central) through Tuesday, November 5, 2024
HNI Corporation (NYSE:HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on September 12, 2024, to shareholders of record at the close of business on August 23, 2024. About HNI Corporation HNI Corporation (NYSE:HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment
HNI Corporation (NYSE:HNI) today announced the installation of solar energy systems at two strategic manufacturing locations. These solar projects underscore HNI's proactive approach toward environmental responsibility, sustainability, and combating climate change. USA Today recently recognized HNI as one of 'America's Climate Leaders' for its dedication to reducing greenhouse gas emissions, its focus on energy conservation efforts, and its commitment to renewable energy. USA Today partnered with market research firm Statista to highlight companies that significantly reduced emissions intensity (Scope 1 and 2 greenhouse gas emissions relative to revenue) between 2020 and 2022. HNI ranked
Strong second quarter EPS fueled by Workplace Furnishings profit transformation, Kimball International accretion, and Residential Building Products actions Delivered strong second quarter EPS, GAAP $0.75 / non-GAAP $0.79 (+44% YoY). Expanded operating margins in Workplace Furnishings +750 bps GAAP / +370 bps non-GAAP YoY. Net sales growth expected to return in both segments during the second half of 2024. 2024 EPS expected to deliver strong growth and reach an all-time high. Elevated earnings growth visibility extends beyond 2024 from initiatives already underway. HNI Corporation (NYSE:HNI) today announced net sales for the second quarter ended June 29, 2024 of $623.7 mill
HNI Corporation (NYSE:HNI) will host its quarterly conference call for investors to discuss second quarter fiscal 2024 results on: Thursday, July 25, 2024 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at https://investors.hnicorp.com/events-and-presentations. A replay of the webcast and call will be made available from Thursday, July 25, 2024, 1:00 p.m. (Central) through Thursday, August 1, 2024
HNI Corporation (NYSE:HNI) announced the election of David Roberts to the Corporation's Board of Directors. Mr. Roberts is the President and Chief Executive Officer, since 2018, of Verra Mobility Corporation (VRRM), a global leader in smart mobility technologies. He joined Verra Mobility in 2014 as its Chief Operating Officer. Mr. Roberts brings to the Board expertise in technology, innovation, finance, entrepreneurship, strategy, and general management developed over a 30-year career. He will join the Board's Public Policy and Corporate Governance Committee. "We are delighted to welcome David to our Board of Directors," said Jeff Lorenger, Chairman, President, and Chief Executive Offic
HNI Corporation (NYSE:HNI) announced today it will close its Hickory, North Carolina, manufacturing plant during the first half of 2025 and consolidate production into its other North American facilities. HNI expects the consolidation to improve productivity and strengthen operations, without sacrificing capacity or creating disruption. Customers and trade partners will benefit from production efficiencies, coordinated delivery logistics, and rigorous quality assurance. HNI will maintain a commercial presence in Hickory with its HBF brand of workplace furnishings and textile products. HBF's brand headquarters will remain in Hickory as will its marketing, customer experience, product dev
HNI Corporation (NYSE:HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on December 2, 2024, to shareholders of record at the close of business on November 18, 2024. About HNI Corporation HNI Corporation (NYSE:HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is
Double-digit EPS growth fueled by profit transformation and synergy acceleration Delivered strong third quarter EPS, GAAP $0.98 (+23% YoY) / non-GAAP $1.03 (+11% YoY) Workplace Furnishings segment operating margin (GAAP and non-GAAP) reached a 20-year high Residential Building Products segment profit grew in the third quarter despite cyclical revenue pressures Elevated earnings growth visibility extends through 2026 from initiatives already in progress Near-term volume pressures expected to negatively impact fourth-quarter results HNI Corporation (NYSE:HNI) today announced net sales for the third quarter ended September 28, 2024 of $672.2 million and net income of $47.5 million.
HNI Corporation (NYSE:HNI) will host its quarterly conference call for investors to discuss third quarter fiscal 2024 results on: Tuesday, October 29, 2024 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at https://investors.hnicorp.com/events-and-presentations. A replay of the webcast and call will be made available from Tuesday, October 29, 2024, 1:00 p.m. (Central) through Tuesday, November 5, 2024
HNI Corporation (NYSE:HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on September 12, 2024, to shareholders of record at the close of business on August 23, 2024. About HNI Corporation HNI Corporation (NYSE:HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment
Strong second quarter EPS fueled by Workplace Furnishings profit transformation, Kimball International accretion, and Residential Building Products actions Delivered strong second quarter EPS, GAAP $0.75 / non-GAAP $0.79 (+44% YoY). Expanded operating margins in Workplace Furnishings +750 bps GAAP / +370 bps non-GAAP YoY. Net sales growth expected to return in both segments during the second half of 2024. 2024 EPS expected to deliver strong growth and reach an all-time high. Elevated earnings growth visibility extends beyond 2024 from initiatives already underway. HNI Corporation (NYSE:HNI) today announced net sales for the second quarter ended June 29, 2024 of $623.7 mill
HNI Corporation (NYSE:HNI) will host its quarterly conference call for investors to discuss second quarter fiscal 2024 results on: Thursday, July 25, 2024 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at https://investors.hnicorp.com/events-and-presentations. A replay of the webcast and call will be made available from Thursday, July 25, 2024, 1:00 p.m. (Central) through Thursday, August 1, 2024
HNI Corporation (NYSE:HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on June 12, 2024, to shareholders of record at the close of business on May 24, 2024. About HNI Corporation HNI Corporation (NYSE:HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the n
Strong earnings growth driven by Workplace Furnishings profit transformation EPS of $0.37 increased 825% on a GAAP basis and 185% on a non-GAAP basis YoY. Workplace Furnishings operating margin expanded 730 bps GAAP and 720 bps non-GAAP YoY. Full-year and second quarter 2024 non-GAAP EPS expected to strongly increase YoY. HNI Corporation (NYSE:HNI) today announced sales for the first quarter ended March 30, 2024 of $588.0 million and net income of $17.7 million. Highlights Excellent earnings growth. First quarter earnings per share of $0.37 was up considerably on both a GAAP and non-GAAP basis versus the prior year despite an 8.1 percent year-over-year organic revenue decli
HNI Corporation (NYSE:HNI) will host its quarterly conference call for investors to discuss first quarter fiscal 2024 results on: Monday, April 29, 2024 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at https://investors.hnicorp.com/events-and-presentations. A replay of the webcast and call will be made available from Monday, April 29, 2024, 1:00 p.m. (Central) through Monday, May 6, 2024, 10:59
HNI Corporation (NYSE:HNI) today announced sales of $2.434 billion and net income of $49.2 million for the full year ended December 30, 2023. GAAP net income per diluted share was $1.09, compared to $2.94 in the prior year. Non-GAAP net income per diluted share was $2.65, compared to $2.20 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release. Fourth quarter sales of $679.8 million were up 19 percent from year-ago levels, and fourth quarter net income was $22.7 million. GAAP net income per diluted share was $0.48, compared to $0.39 in the prior year. Non-GAAP net income per diluted share was $0.98, up from $0.63 reported in the prior-year peri