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HNI Corporation - HNI STOCK NEWS

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.
Rhea-AI Summary
HNI Corporation reports Q3 2023 sales of $711.6 million and net income of $37.8 million. GAAP earnings per diluted share declined from $1.51 to $0.80 due to a non-recurring gain in the prior year. Non-GAAP net income per diluted share was $0.93, compared to $0.71 in the prior year. Workplace Furnishings segment sees substantial margin expansion. Kimball International acquisition adds $15.2 million in GAAP operating profit. Poppin divestiture eliminates an annual operating loss of nearly $20 million. Residential Building Products margin remains resilient despite housing market weakness.
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HNI Corporation has been recognized by the U.S. Department of Energy for achieving its scope 1 and 2 emissions reduction goal as a partner in the Better Climate Challenge. HNI has reduced emissions by 64% through the purchase of renewable electricity and energy efficiency efforts. They are committed to combating climate change and integrating sustainability in their processes and products.
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HNI Corporation to host quarterly conference call for investors to discuss Q3 fiscal 2023 results
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HNI Corporation declares quarterly dividend of 32 cents per share on its common stock.
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Rhea-AI Summary
HNI Corporation (HNI) reported sales of $563.5 million and a net loss of $12.8 million for Q2 2023. GAAP EPS declined to ($0.30) due to acquisition expenses. Non-GAAP net income per diluted share was $0.55, up from $0.52 in the prior year. Sales declined by 9%, but non-GAAP profit grew by 6% despite a 15% organic sales decline.
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HNI Corporation completes acquisition of Kimball International, creating a market leader with $3 billion in revenue and $305 million in combined EBITDA. The deal includes $25 million in expected synergies within three years. Kimball International shareholders receive $9.00 in cash and 0.1301 shares of HNI Corporation common stock for each share owned.
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HNI Corporation (NYSE: HNI) declares quarterly dividend of 32 cents per share on common stock.
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HNI Corporation announces Q1 sales of $479.1 million and net income of $1.6 million. Workplace Furnishings shows profit growth and improvement in Q1. Kimball International deal on track to close in June. Residential Building Products prepared for lower demand. Q1 orders show growth in Workplace Furnishings and decline in Residential Building Products. Weak macroeconomic conditions expected to impact demand and profitability in Q2. Earnings seasonality expected to return to normal. Q2 operating income expected to exceed Q1 levels.
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FAQ

What is the current stock price of HNI Corporation (HNI)?

The current stock price of HNI Corporation (HNI) is $51.63 as of December 20, 2024.

What is the market cap of HNI Corporation (HNI)?

The market cap of HNI Corporation (HNI) is approximately 2.4B.

What does HNI Corporation specialize in?

HNI Corporation specializes in office furniture and hearth products, offering a wide range of solutions for both office and home environments.

How does HNI Corporation sell its products?

HNI Corporation sells its products through a network of dealers, wholesalers, office product distributors, and directly to end-user customers, including government entities.

What are some of the recent achievements of HNI Corporation?

Recent achievements include strong quarterly earnings, the launch of an eco-friendly product line, strategic partnerships, facility expansions, and recognition for employee satisfaction.

Where does HNI Corporation operate?

HNI Corporation operates in the United States, Canada, Mainland China, Hong Kong, India, Mexico, and Taiwan.

What is the member-owner environment at HNI Corporation?

The member-owner environment at HNI Corporation fosters a unique culture where every member shares in and contributes to the business's success.

What types of office furniture does HNI Corporation offer?

HNI Corporation offers panel-based and freestanding furniture systems, seating, storage, tables, and architectural products.

What hearth products are available from HNI Corporation?

HNI Corporation provides gas, wood, electric, and pellet-fueled fireplaces, inserts, stoves, facings, and accessories.

What is HNI Corporation's growth strategy?

HNI Corporation's growth strategy focuses on building leading brands, taking care of end users, and achieving operational excellence.

Who are the primary customers of HNI Corporation?

Primary customers include national dealers, wholesalers, office product distributors, end-user customers, and various government entities.

What is the significance of HNI Corporation in its industry?

HNI Corporation is a trusted leader known for its high-quality products, innovation, and fast, dependable turnaround times in the office furniture and hearth products markets.

HNI Corporation

NYSE:HNI

HNI Rankings

HNI Stock Data

2.45B
46.82M
1.96%
81.93%
1.93%
Business Equipment & Supplies
Office Furniture (no Wood)
Link
United States of America
MUSCATINE