HNI Plans To Close Its Hickory, North Carolina, Manufacturing Plant During H1 Of 2025

5/20/24 4:31:41 PM ET

Office Equipment/Supplies/Services

Consumer Discretionary

Get the next $HNI alert in real time by email

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:

Get the next $HNI alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$HNI

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

More analyst ratings

$HNI
Press Releases

Fastest customizable press release news feed in the world

HNI Corporation Announces Quarterly Dividend
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
11/6/24 6:04:00 PM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary
HNI Corporation Reports Third Quarter 2024 Results
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.
10/29/24 7:30:00 AM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary
HNI Corporation Appoints New Chief Financial Officer
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
10/3/24 9:25:00 AM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary

HNI Corporation Announces Quarterly Dividend
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
11/6/24 6:04:00 PM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary
HNI Corporation Reports Third Quarter 2024 Results
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.
10/29/24 7:30:00 AM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary
HNI Corporation Third Quarter Fiscal 2024 Results Conference Call
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
10/1/24 4:30:00 PM ET
$HNI
Office Equipment/Supplies/Services
Consumer Discretionary

HNI Plans To Close Its Hickory, North Carolina, Manufacturing Plant During H1 Of 2025

Chat with this insight

Recent Analyst Ratings for $HNI

$HNI Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Roberts David Martin was granted 189 shares, increasing direct ownership by 7% to 2,891 units (SEC Form 4)

EVP, HNI Corp Berger Vincent P exercised 25,498 shares at a strike of $47.58 and sold $1,302,283 worth of shares (23,654 units at $55.06), increasing direct ownership by 2% to 80,684 units (SEC Form 4)

President, Hearth & Home Tech Smith Brian Scott exercised 2,284 shares at a strike of $51.54 and sold $123,336 worth of shares (2,284 units at $54.00) (SEC Form 4)

$HNI SEC Filings

SEC Form 10-Q filed by HNI Corporation

HNI Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

SEC Form 144 filed by HNI Corporation

$HNI Market Insights

Live Market Insights

HNI Q2 Adj $0.79 Beats $0.61 Estimate, Sales $623.70M Miss $637.82M Estimate

Benchmark Maintains Buy on HNI, Raises Price Target to $57

HNI Expects Hickory Plant Closure To Impact Approximately 200 Production And Operations Members

$HNI Press Releases

Fastest customizable press release news feed in the world

HNI Corporation Announces Quarterly Dividend

HNI Corporation Reports Third Quarter 2024 Results

HNI Corporation Appoints New Chief Financial Officer

$HNI Financials

Live finance-specific insights

$HNI Leadership Updates

Live Leadership Updates

$HNI Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

HNI Corporation Announces Quarterly Dividend

HNI Corporation Reports Third Quarter 2024 Results

HNI Corporation Third Quarter Fiscal 2024 Results Conference Call

HNI Corporation Appoints New Chief Financial Officer

HNI Corporation Elects New Director

Sidoti resumed coverage on HNI

HNI upgraded by Sidoti with a new price target

HNI downgraded by Sidoti with a new price target

$HNI Large Ownership Changes

This live feed shows all institutional transactions in real time.

SEC Form SC 13G/A filed by HNI Corporation (Amendment)

SEC Form SC 13G/A filed by HNI Corporation (Amendment)

SEC Form SC 13G/A filed by HNI Corporation (Amendment)

Recent Analyst Ratings for
$HNI

$HNI
Insider Trading

$HNI
SEC Filings

$HNI
Market Insights

$HNI
Press Releases

$HNI
Financials

$HNI
Leadership Updates

$HNI
Analyst Ratings

$HNI
Large Ownership Changes