Hni Corp Stock Price, News & Analysis

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 32 cents per share on its common stock, payable on December 1, 2022. Shareholders of record will receive the dividend if they are on record by the close of business on November 21, 2022. HNI operates in two segments: Workplace Furnishings and Residential Building Products, providing a range of commercial and residential products.

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.

HNI Corporation (NYSE: HNI) will hold its quarterly conference call on October 24, 2022, at 11:00 a.m. Eastern to discuss its Q3 fiscal 2022 results. Investors can participate by dialing 1-855-761-5600 with Conference ID: 7175411. A live webcast will be available on their website, with a replay accessible from October 24 to October 31, 2022. HNI plans to release its Q3 results before the market opens on October 24. For more information, visit HNI’s investor relations page.

HNI Corporation (NYSE: HNI) has announced the election of Patrick D. Hallinan to its Board of Directors. Hallinan, currently the CFO of Fortune Brands Home & Security, brings over 30 years of financial and strategic expertise. His experience in finance and management is expected to enhance HNI's focus on long-term profitable growth. With this addition, HNI's Board now consists of ten directors, including nine independent members.

Design Public Group, part of HNI Corporation, has appointed Lauren Hession as the new President to lead its contract division, which includes DesignPublicGroup.com, DanishDesignStore.com, and DesignPublic.com. Hession brings extensive experience in sales leadership and operations, aimed at enhancing brand awareness and productivity. Formerly the Divisional VP of Sales and Distribution at Knoll Inc., she significantly boosted revenue in North America. HNI's co-founders will support Hession during her transition, ensuring continued growth in new markets.

HNI Corporation (NYSE: HNI) has declared a quarterly dividend of 32 cents per share on its common stock. The dividend is set to be payable on September 8, 2022, to shareholders who are on record by the close of business on August 26, 2022. HNI operates in two segments: Workplace Furnishings, a leader in commercial furnishings, and Residential Building Products, the top manufacturer of hearth products in the U.S. Further details can be found on the company’s website.

HNI Corporation (NYSE: HNI) reported Q2 sales of $621.7 million, a 21.8% increase year-over-year, with net income rising to $30.3 million or $0.72 per diluted share, up from $0.39 in the previous year. Non-GAAP EPS increased 30% to $0.52. The divestiture of Lamex for $75 million will enhance strategic focus and financial flexibility. However, the company lowered its 2022 growth outlook due to signs of a slowing economy, with projected revenue growth rates in the low teens for the Workplace Furnishings segment, down from previous high teens to low 20s.