Welcome to our dedicated page for HNI Corporation news (Ticker: HNI), a resource for investors and traders seeking the latest updates and insights on HNI Corporation stock.
HNI Corporation (symbol: HNI) is a leading provider of office furniture and hearth products, delivering high-quality solutions since its founding in 1944. The company operates under a unique member-owner environment where every individual, known as a member, contributes to the success and growth of the business. HNI Corporation’s core business includes manufacturing and selling panel-based and freestanding furniture systems, seating, storage, tables, and architectural products. These offerings are sold through a robust network of dealers, wholesalers, distributors, and directly to end-user customers, including federal, state, and local governments.
In addition to office furniture, HNI Corporation is a key player in the residential building products market, offering a comprehensive range of gas, wood, electric, and pellet-fueled fireplaces, inserts, stoves, facings, and accessories. The company’s dedication to integrity, quality, innovation, service, and continuous improvement underpins its growth strategy, which focuses on building leading brands, taking care of end users, and achieving operational excellence.
HNI Corporation comprises nine companies, each representing a family of leading brands, products, and services for the office and home. The company’s manufacturing and supply chain expertise ensures the highest quality products with the fastest and most dependable turnaround times in the industry.
With operations spanning the United States, Canada, Mainland China, Hong Kong, India, Mexico, and Taiwan, HNI Corporation maintains a significant global presence. Recent projects and achievements highlight the company’s commitment to innovation and customer satisfaction, positioning HNI as a trusted leader in both the office furniture and hearth products markets.
Latest News:
- HNI Corporation reports strong quarterly earnings driven by increased demand in the office furniture sector.
- Launch of new eco-friendly product line aimed at reducing environmental impact.
- Strategic partnership with leading technology firm to enhance product innovation.
- Expansion of manufacturing facilities in North America to meet growing market needs.
- Recognition as one of the top workplaces for employee satisfaction and engagement.
HNI (NYSE: HNI) has 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 as of November 18, 2024. HNI is a manufacturer of workplace furnishings and residential building products, operating through two segments: Workplace Furnishings and Residential Building Products. The company is a leading global designer of commercial furnishings and the nation's leading manufacturer of hearth products.
HNI reported Q3 2024 results with net sales of $672.2 million and net income of $47.5 million. GAAP EPS increased 23% to $0.98, while non-GAAP EPS grew 11% to $1.03 year-over-year. The Workplace Furnishings segment achieved a 20-year high operating margin, while Residential Building Products grew profit despite revenue pressures. The company expects $45-50 million in savings from Kimball International synergies and Mexico facility operations through 2026. However, fourth-quarter results are expected to be impacted by volume pressures due to U.S. election uncertainty and macroeconomic conditions.
HNI (NYSE: HNI) announced a leadership change in its financial department. Marshall H. Bridges will retire as Senior Vice President and Chief Financial Officer (CFO) on December 28, 2024. The Board of Directors has appointed Vincent Paul (VP) Berger II as Executive Vice President (EVP) and CFO, effective December 29, 2024.
Berger, 52, has been with HNI for 27 years and currently serves as EVP and President of Hearth and Home Technologies. He is a certified public accountant with over 30 years of experience in finance, operations, and leadership roles. After retirement, Bridges will continue part-time, assisting with strategic projects focused on artificial intelligence.
Jeff Lorenger, Chairman, President, and CEO, expressed confidence in Berger's appointment, citing his comprehensive understanding of the residential building products segment and deep knowledge of HNI's business.
HNI (NYSE: HNI) has announced its upcoming third quarter fiscal 2024 results conference call, scheduled for Tuesday, October 29, 2024 at 11:00 a.m. Eastern time. Investors can join the call by dialing 1-855-761-5600 (Toll-free) with Conference ID: 7175411. A live webcast will be available on the company's investor relations website, with a replay accessible until November 5, 2024.
HNI plans to release its Q3 2024 results before the market opens on October 29, 2024. The results will be posted on the company's website. HNI , a manufacturer of workplace furnishings and residential building products, operates under two segments: Workplace Furnishings and Residential Building Products, offering commercial furnishings and hearth products respectively.
HNI (NYSE: HNI) has 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. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments: Workplace Furnishings and Residential Building Products. The company has been improving where people live, work, and gather for more than 75 years. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, while the Residential Building Products segment is the nation's leading manufacturer and marketer of hearth products.
HNI (NYSE: HNI) has announced the installation of solar energy systems at two strategic manufacturing locations, reinforcing its commitment to environmental responsibility and sustainability. The company was recently recognized by USA Today as one of 'America's Climate Leaders', ranking 19th out of 450 companies for its efforts in reducing greenhouse gas emissions and focusing on energy conservation.
The new solar projects are expected to generate approximately 2,500 MWh of solar power and offset more than 2,000 tons of CO2e annually. HNI's renewable energy initiatives also include renewable energy credits and power purchase agreements. The company, a manufacturer of workplace furnishings and residential building products, has been improving living and working spaces for over 75 years.
HNI reported strong Q2 2024 results, with GAAP EPS of $0.75 and non-GAAP EPS of $0.79, up 44% year-over-year. The company saw significant margin expansion in Workplace Furnishings and strong accretion from the Kimball International acquisition. Net sales increased 10.7% to $623.7 million, driven by the Kimball acquisition. HNI expects net sales growth to return in both segments during H2 2024 and anticipates record EPS for the full year. The company projects $70-$75 million in savings from Kimball synergies and its new Mexico facility, with $45-$50 million benefiting 2025-2026. HNI maintains a strong balance sheet with gross leverage of 1.5x.
HNI (NYSE: HNI) will host a quarterly conference call on July 25, 2024, at 11:00 a.m. Eastern to discuss its second quarter fiscal 2024 results. The call will be accessible via toll-free dial-in at 1-855-761-5600 using Conference ID 7175411, or through a live webcast on HNI's investor relations website. A replay will be available until August 1, 2024. Results will be posted online before the market opens on the same day.
HNI , a longstanding manufacturer of workplace and residential building products, operates under two main segments. The Workplace Furnishings segment is a global provider of commercial furnishings under various brands, while the Residential Building Products segment is the leading U.S. manufacturer of hearth products.
HNI (NYSE: HNI) has elected David Roberts to its Board of Directors. Roberts, President and CEO of Verra Mobility since 2018, brings 30 years of expertise in technology, innovation, finance, and strategic management. He will serve on the Public Policy and Corporate Governance Committee.
HNI's Chairman, President, and CEO, Jeff Lorenger, expressed confidence in Roberts' ability to add significant value as the company drives towards long-term profitable growth. The election increases the Board to eleven members, including ten independent directors and the CEO.
HNI manufactures workplace furnishings and residential building products. The company operates through two segments: Workplace Furnishings and Residential Building Products. HNI is a market leader with a strong portfolio of brands.
HNI (NYSE: HNI) announced it will close its manufacturing plant in Hickory, North Carolina, in the first half of 2025. The production will be consolidated into other North American facilities to enhance productivity and operational strength. HNI anticipates annual cost savings of approximately $11 million by 2026, with $8-$9 million realized in 2025. The consolidation, enabled partly by the integration of Kimball International (acquired in June 2023), will incur charges affecting pre-tax earnings by about $10.3 million in 2024 and 2025. Around 200 employees will be impacted by the closure. HNI will retain a commercial presence in Hickory through its HBF brand.
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