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 (NYSE: HNI) reported strong financial results for fiscal year 2024, with net sales of $2.526 billion and net income of $139.5 million. The company achieved its third consecutive year of double-digit EPS growth, with full-year GAAP EPS of $2.88 (+164% YoY) and non-GAAP EPS of $3.06 (+15% YoY).
Fourth quarter performance showed net sales of $642.5 million and net income of $38.3 million. Operating cash flow exceeded $225 million in 2024, with year-ending gross debt leverage at 1.1x. The company's operating margin reached its highest level since 2005, driven by profit transformation initiatives, synergy benefits, and price-cost strategies.
Looking ahead, HNI expects net sales growth to return in 2025 in both segments, with Workplace Furnishings showing encouraging order rates and backlog levels. The company anticipates additional EPS benefits of $0.70 to $0.80 over 2025-2026 from Kimball International synergies and Mexico facility ramp-up.
HNI (NYSE: HNI) has declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on March 5, 2025, to shareholders of record at the close of business on February 24, 2025.
HNI operates through two main segments: The Workplace Furnishings segment, which is a global designer and provider of commercial furnishings, and the Residential Building Products segment, which leads the nation in manufacturing and marketing hearth products, including gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories.
HNI (NYSE: HNI) has announced its upcoming fourth quarter and year-end fiscal 2024 results conference call, scheduled for Thursday, February 20, 2025 at 11:00 a.m. Eastern time. The company plans to release its financial results before the market opens on the same day.
Investors can access the call by dialing 1-855-761-5600 (toll-free) with Conference ID: 7175411. A live webcast will be available on HNI's investor relations website, and a replay will be accessible from February 20 to February 27, 2025.
HNI operates through two segments: Workplace Furnishings, which provides commercial furnishings globally, and Residential Building Products, which leads the nation in hearth products manufacturing including fireplaces, stoves, and accessories.
HNI (NYSE: HNI) has been recognized among America's Most Responsible Companies, ranking No. 36 on Newsweek's 2025 list and securing the third position in the Retail and Consumer Goods category. This marks the company's sixth consecutive year on the prestigious list of top 600 responsible companies in the United States.
The selection process evaluated 2,000 of the largest U.S.-based publicly traded companies, considering over 30 key performance indicators across environmental, social, and governance areas. HNI's recognition reflects its progress in corporate responsibility, focusing on three pillars: reducing operational impacts, creating sustainable products, and respecting people. Notable achievements include reductions in Scope 1 and 2 emissions, zero waste to landfill at multiple facilities, and decreased energy consumption.
HNI (NYSE: HNI) has declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on December 2, 2024, to shareholders of record as of November 18, 2024. HNI is a manufacturer of workplace furnishings and residential building products, operating through two segments: Workplace Furnishings and Residential Building Products. The company is a leading global designer of commercial furnishings and the nation's leading manufacturer of hearth products.
HNI reported Q3 2024 results with net sales of $672.2 million and net income of $47.5 million. GAAP EPS increased 23% to $0.98, while non-GAAP EPS grew 11% to $1.03 year-over-year. The Workplace Furnishings segment achieved a 20-year high operating margin, while Residential Building Products grew profit despite revenue pressures. The company expects $45-50 million in savings from Kimball International synergies and Mexico facility operations through 2026. However, fourth-quarter results are expected to be impacted by volume pressures due to U.S. election uncertainty and macroeconomic conditions.
HNI (NYSE: HNI) announced a leadership change in its financial department. Marshall H. Bridges will retire as Senior Vice President and Chief Financial Officer (CFO) on December 28, 2024. The Board of Directors has appointed Vincent Paul (VP) Berger II as Executive Vice President (EVP) and CFO, effective December 29, 2024.
Berger, 52, has been with HNI for 27 years and currently serves as EVP and President of Hearth and Home Technologies. He is a certified public accountant with over 30 years of experience in finance, operations, and leadership roles. After retirement, Bridges will continue part-time, assisting with strategic projects focused on artificial intelligence.
Jeff Lorenger, Chairman, President, and CEO, expressed confidence in Berger's appointment, citing his comprehensive understanding of the residential building products segment and deep knowledge of HNI's business.
HNI (NYSE: HNI) has announced its upcoming third quarter fiscal 2024 results conference call, scheduled for Tuesday, October 29, 2024 at 11:00 a.m. Eastern time. Investors can join the call by dialing 1-855-761-5600 (Toll-free) with Conference ID: 7175411. A live webcast will be available on the company's investor relations website, with a replay accessible until November 5, 2024.
HNI plans to release its Q3 2024 results before the market opens on October 29, 2024. The results will be posted on the company's website. HNI , a manufacturer of workplace furnishings and residential building products, operates under two segments: Workplace Furnishings and Residential Building Products, offering commercial furnishings and hearth products respectively.
HNI (NYSE: HNI) has declared a quarterly dividend of 33 cents per share on its common stock. The dividend will be payable on September 12, 2024, to shareholders of record at the close of business on August 23, 2024. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments: Workplace Furnishings and Residential Building Products. The company has been improving where people live, work, and gather for more than 75 years. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, while the Residential Building Products segment is the nation's leading manufacturer and marketer of hearth products.
HNI (NYSE: HNI) has announced the installation of solar energy systems at two strategic manufacturing locations, reinforcing its commitment to environmental responsibility and sustainability. The company was recently recognized by USA Today as one of 'America's Climate Leaders', ranking 19th out of 450 companies for its efforts in reducing greenhouse gas emissions and focusing on energy conservation.
The new solar projects are expected to generate approximately 2,500 MWh of solar power and offset more than 2,000 tons of CO2e annually. HNI's renewable energy initiatives also include renewable energy credits and power purchase agreements. The company, a manufacturer of workplace furnishings and residential building products, has been improving living and working spaces for over 75 years.