Welcome to our dedicated page for KNL news (Ticker: KNL), a resource for investors and traders seeking the latest updates and insights on KNL stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect KNL's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of KNL's position in the market.
Knoll, Inc. (NYSE: KNL) reported a 15.8% decline in net sales for the fourth quarter of 2020, totaling $312.9 million, primarily due to a 30% drop in workplace sales. Full-year net sales decreased 13.4% to $1.236 billion. However, strong growth in e-commerce and residential sales, which increased 34% in Q4, partly mitigated these declines. Adjusted EBITDA fell from $51.8 million to $30.6 million in Q4. Despite challenges, the company is optimistic about a recovery in 2021 as office demand stabilizes with expected vaccine rollout.
Knoll, Inc. (NYSE:KNL) has declared a quarterly cash dividend of $0.06 per share, payable on March 31, 2021, to shareholders on record as of March 15, 2021. The dividend declaration is contingent upon various factors including net income and financial position. Knoll is known for its design-driven brands that cater to workplace and home interiors, reflecting a commitment to modern design and sustainability.
Knoll, Inc. (NYSE: KNL) will announce its financial results for Q4 and the full year 2020 on February 10, 2021, after market close.
A Q&A conference call is scheduled for 5:30 p.m. ET that same day to address investor inquiries. Interested parties can join the call by dialing North America (844) 778-4138 or International (661) 378-9550, using Conference ID 1895549. A replay will be available until February 17, 2021.
Knoll, Inc. (NYSE: KNL) announced a quarterly cash dividend of $0.06 per share, payable on December 31, 2020, to shareholders of record as of December 15, 2020. The dividend declaration depends on factors such as net income, financial position, and cash requirements, as determined by the Board of Directors. Knoll is recognized for its design-driven products for workplaces and homes, contributing to modern interior solutions.
Knoll, Inc. (KNL) reported a 13.2% decline in net sales for Q3 2020, totaling $309.4 million, driven significantly by a 25% drop in office sales. Despite this, e-commerce sales surged by 434%, with residential sales increasing 39%. Adjusted EBITDA fell to $37.3 million, equating to 12.1% of net sales. The company maintains a strong liquidity position with $336 million in borrowings available and a leverage ratio of 2.1x. Restructuring efforts are aimed at reducing costs, with anticipated annual savings of $50 million.
Knoll, Inc. (NYSE: KNL) has elected Jeffrey Henderson to its board of directors, increasing the total members to 11, with 10 being independent. Henderson, 47, is the founder and creative director of AndThem and has held various roles in the footwear industry, including at Nike and Cole Haan. Andrew Cogan, Knoll's chairman and CEO, expressed enthusiasm for Henderson's contributions in design and social impact. His election highlights Knoll's commitment to diversity within its leadership.
Knoll, Inc. (NYSE: KNL) has launched two initiatives aimed at promoting diversity and community support. The Knoll Diversity Advancement Design Scholarships will award $10,000 annually to five Black students pursuing design studies, while a partnership with Habitat for Humanity will facilitate affordable housing initiatives. CEO Andrew Cogan has joined over 1,300 CEOs in the CEO Action for Diversity and Inclusion Pledge to enhance workplace inclusion. These initiatives reflect Knoll's commitment to fostering an equitable society and align with its design-driven mission.
Knoll, Inc. (NYSE: KNL) announced a quarterly cash dividend increase to $0.06 per share, up 50% from the previous $0.04, payable on September 30, 2020, to shareholders on record by September 15, 2020. CEO Andrew Cogan attributed this decision to a strengthened balance sheet and improved performance driven by a growing mix of work-from-home and residential offerings. The dividend's declaration depends on various factors, including net income and financial stability.
Knoll (NYSE: KNL) reported a 25.4% decline in net sales for Q2 2020, totaling $274.1 million. GAAP net earnings plummeted to a loss of $9.6 million, down from a profit of $21.7 million a year prior. Despite challenges from the COVID-19 pandemic, Knoll achieved operational profitability on an adjusted basis by implementing $50 million in annual operating expense reductions and issuing $164 million in preferred stock, enhancing liquidity. The company emphasized its pivot towards work-from-home solutions and diversification of its channels as key to navigating the crisis.
Knoll, Inc. (NYSE: KNL) has completed a significant financial transaction, acquiring $164 million in convertible preferred stock from an independently managed subsidiary of Investindustrial VII L.P. This convertible preferred stock has an initial conversion price of $16.75 per share and offers a 4.50% dividend, payable either in cash or in-kind for the first two years. The company plans to utilize the net proceeds for general corporate purposes, particularly to reduce existing borrowings under its credit facility.
