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 Corporation (NYSE: HNI) will discuss its first quarter fiscal 2023 results during a conference call on May 8, 2023, at 11:00 a.m. Eastern. Investors can join the call by dialing 1-855-761-5600 with Conference ID: 7175411. A live webcast will also be available on HNI's website, and a replay of the call will be accessible from 1:00 p.m. Central on the same day until May 15, 2023. HNI aims to release its first-quarter results before the market opens on May 8, 2023. The company operates in two segments: Workplace Furnishings and Residential Building Products, holding a strong position in both commercial furnishings and hearth products markets.
HNI Corporation (NYSE: HNI) has announced its acquisition of Kimball International (NASDAQ: KBAL) in a cash and stock transaction valued at approximately $485 million. Each Kimball shareholder will receive $9.00 in cash plus 0.1301 shares of HNI common stock, resulting in Kimball shareholders owning around 10% of the combined entity. The merger is projected to generate $25 million in annual cost synergies within three years, enhancing HNI's revenue potential, which will reach approximately $3.1 billion post-transaction. The deal has been unanimously approved by both companies' boards and is expected to close by mid-2023.
HNI Corporation (NYSE: HNI) reported full-year 2022 sales of $2.362 billion and a net income of $123.9 million. The GAAP net income per diluted share rose to $2.94 from $1.36 in 2021. In Q4 2022, sales were $568.9 million, down 6% year-over-year, but net income increased by 105% to $16.3 million. The company experienced significant margin expansions, with non-GAAP gross margin up 390 basis points.
Despite a challenging environment, HNI expects continued pressure in 2023 but anticipates improved long-term profitability through strategic actions and a strong balance sheet with a gross leverage ratio of 0.7.
HNI Corporation (NYSE: HNI) declared a quarterly dividend of
HNI Corporation (NYSE: HNI) will hold its quarterly conference call on February 23, 2023, at 11:00 a.m. Eastern to discuss its fourth quarter and year-end fiscal 2022 results. Results will be posted before the market opens on the same day. Investors can participate in the call by dialing 1-855-761-5600 and using the conference ID 7175411. A live webcast will also be available on HNI's website, with a replay accessible from February 23 at 1:00 p.m. Central through March 2. For more information, visit HNI's Investor Relations page.
Allsteel Inc., part of HNI, announced the relocation of its Muscatine sales office to a new Experience Center in Fulton Market, Chicago, set to open in Spring 2023. This move, which won't affect jobs, represents a strategic shift towards sustainability and enhanced client interaction. The new 345 N. Morgan building will feature innovative design spaces aimed at collaboration. HNI has also been ranked No. 6 on Newsweek's list of America's Most Responsible Companies for 2023, reflecting its commitment to sustainability and corporate governance.
HNI Corporation (NYSE: HNI) announced a quarterly dividend of
HNI Corporation (NYSE: HNI) reported Q3 2022 sales of $598.8 million, up 2.1% year-over-year, with a net income of $63.1 million, translating to GAAP earnings per share (EPS) of $1.51. Non-GAAP EPS rose 65% to $0.71. The Residential Building Products segment saw a 10% organic revenue increase, while Workplace Furnishings experienced a 4.6% drop. The company anticipates lower fourth-quarter revenue, particularly in Workplace Furnishings, due to macroeconomic challenges and planned restructuring.
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