HNI Corporation reports news on a manufacturing business organized around workplace furnishings and residential building products. Its workplace furnishings activities include furniture systems, seating, storage, tables, architectural products, ancillary products, hospitality products, and workplace brands such as Allsteel. Its residential building products segment includes gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, outdoor fire pits, fire tables, and accessories.
Recurring HNI updates include quarterly and annual earnings, dividend declarations, workplace showroom and brand developments, operational improvement actions, and integration activity following the completed acquisition of Steelcase. Company news also discusses segment demand, price-cost and productivity factors, manufacturing-network decisions, and capital-allocation topics tied to its NYSE-listed common stock.
HNI Corporation (NYSE: HNI) and Marxent have launched new 3D Commerce applications aimed at enhancing the online shopping experience for home office furniture. The new tools include a 3D Product Configurator for Hearth & Home Technologies and the HON Now 3D Room Planner, developed to cater to the growing demand for ergonomic home office solutions as telecommuting rises. The accelerated adoption of remote work has driven a surge in home office furniture sales, making interactive online shopping essential.
HNI Corporation reported full-year 2020 sales of $1.955 billion and a net income of $41.9 million, with diluted GAAP EPS of $0.98, down from $2.54 in 2019. Q4 sales dropped 9% year-over-year to $562.1 million, leading to a net income of $22.6 million and diluted GAAP EPS of $0.52. The Residential Building Products segment showed resilience with a 15.9% organic sales increase, while Workplace Furnishings faced an 18.6% decline. The company generated strong cash flow with $214 million for the year and maintained a low debt leverage ratio of 1.0x.
HNI Corporation (NYSE: HNI) has declared a quarterly dividend of 30.5 cents per share on its common stock. This dividend is payable on March 8, 2021, to shareholders of record as of the close of business on March 1, 2021. HNI Corporation is a leading manufacturer of workplace furnishings and residential building products, operating in two primary segments: Workplace Furnishings and Residential Building Products, which includes a variety of hearth products.
HNI Corporation (NYSE: HNI) is set to announce its fourth quarter and year-end fiscal 2020 results on March 1, 2021, before market opening. The company will host a conference call at 11:00 a.m. Eastern to discuss the results, accessible via 1-833-522-0258 (Conference ID: 5995465). A live webcast will be available on HNI's website, with a replay accessible until March 8, 2021. HNI is a key player in manufacturing workplace furnishings and residential building products.
The HON Company has launched a new task seating solution named Cliq™, designed to enhance productivity and comfort in diverse work environments. Featuring a lightweight, modern design, Cliq™ incorporates a weight-activated control for instant comfort without adjustments. It is well-suited for collaborative and flexible office spaces, with options for fixed arms or armless designs. The seating comes in various colors and materials, catering to aesthetic preferences. HON emphasizes user-centric design, aiming to ease workspace challenges in 2021.
HNI Corporation (NYSE: HNI) has successfully completed its acquisition of Design Public Group, a prominent e-commerce distributor of high-design furniture for offices and homes. The transaction, which closed on December 31, 2020, was funded through HNI's available cash and did not affect its debt levels. By integrating Design Public's digital capabilities, HNI aims to enhance its digital and e-commerce initiatives, effectively broadening its consumer reach in the increasingly online furniture market.
HNI Corporation (NYSE: HNI) has entered into a definitive agreement to acquire Design Public Group, a top e-commerce distributor of high-design furniture and accessories.
The acquisition includes websites like designpublic.com and danishdesignstore.com, expanding HNI's e-commerce presence.
This deal, expected to close by year-end, will not significantly impact 2020 sales or profits, and will be financed with cash on hand.
HNI Corporation (NYSE: HNI) has declared a quarterly dividend of 30.5 cents per share, set to be paid on December 1, 2020. Shareholders on record by the close of business on November 16, 2020, will receive this payment. As a manufacturer of workplace furnishings and residential building products, HNI operates through two key segments—Workplace Furnishings and Residential Building Products—positioning itself as a prominent player in both markets.
HNI Corporation (NYSE: HNI) has announced its 'Carbon Smart' initiatives aimed at combating climate change by committing to renewable energy and significant carbon emission reductions. As a signatory to the UN Global Compact, HNI pledges to align with sustainable business practices and has joined RE100, targeting 100% renewable electricity by 2030. The company has also set science-based targets, aiming for a 35% reduction in Scope 1 and 2 greenhouse gas emissions by 2025, and a 40% reduction in Scope 3 emissions per ton of goods sold by 2035, with 2018 as the base year.
HNI Corporation reported third-quarter 2020 sales of $507.1 million, down 18.9% year-over-year, with net income of $30.7 million and diluted EPS of $0.71, a 33.6% decline compared to last year. The Residential Building Products segment saw net sales growth of 9.3%, while Workplace Furnishings faced a 27.1% decline. Despite challenges, operating cash flow increased 12% year-over-year, totaling $143 million for the year-to-date. The company anticipates continued moderate declines in Workplace Furnishings for Q4 but expects growth in Residential Building Products.