Hni Corp Stock Price, News & Analysis

HNI Corporation (NYSE: HNI) has successfully completed the sale of its Lamex office furniture business in China and Hong Kong to Kokuyo Co., Ltd. for 75 million US dollars. The transaction is subject to standard post-closing adjustments. HNI's CEO, Jeff Lorenger, stated that the sale will streamline their business portfolio, allowing a sharper focus on core strategies. Kokuyo is recognized as a prominent office furniture manufacturer in Japan and Asia. This move signifies HNI's commitment to enhancing operational efficiency.

HNI Corporation (NYSE: HNI) declared a quarterly dividend of 32 cents per share on its common stock. The dividend is payable on June 8, 2022, to shareholders of record by the close of business on May 27, 2022. HNI operates in two segments: Workplace Furnishings and Residential Building Products, with notable brands and a strong market presence in commercial furnishings and hearth products.

HNI Corporation (NYSE: HNI) reported first-quarter 2022 sales of $572.3 million, up 18.2% year-over-year, alongside net income of $14.2 million or $0.33 per diluted share. While gross profit margin contracted by 280 basis points to 34.4%, the company noted improvements in price-cost dynamics amidst inflation. The Workplace Furnishings segment saw a revenue rise of 16.6%, but an operating loss of $6.4 million. The Residential Building Products segment achieved a 20.8% growth with operating profit of $40.4 million, though margins decreased. HNI maintains an optimistic outlook for the fiscal year, expecting strong growth driven by pricing and capacity improvements.

HNI Corporation (NYSE: HNI) will conduct its quarterly conference call on April 28, 2022, at 11:00 a.m. Eastern to discuss first quarter fiscal 2022 results. Investors can join by dialing 1-855-761-5600, using Conference ID 7175411. A live webcast will also be accessible on HNI's website, with a replay available from April 28 through May 5, 2022. HNI plans to release financial results prior to market opening on April 28. For further inquiries, investors may contact HNI's Investor Relations.

HNI Corporation (NYSE: HNI) reported annual sales of $2.184 billion for the year ending January 1, 2022, with net income of $59.8 million, translating to a GAAP net income per diluted share of $1.36. Fourth-quarter sales rose 7% to $602.9 million, but net income fell to $8.2 million, with a diluted EPS of $0.19. The company faced price-cost challenges affecting profitability, despite a strong performance in Residential Building Products. Looking ahead, HNI expects robust revenue growth driven by pricing benefits and improved capacity, despite first-quarter challenges.

HNI Corporation (NYSE: HNI) has declared a quarterly dividend of 31 cents per share on its common stock.

The dividend is set to be paid on March 7, 2022, to shareholders on record as of the close of business on February 28, 2022.

HNI Corporation (NYSE: HNI) will host its quarterly conference call on February 28, 2022, at 11:00 a.m. Eastern, to discuss its fourth quarter and year-end fiscal 2021 results. The company plans to release these results before market opening on the same day. Investors can participate via a toll-free number or through a live webcast available on HNI's website. A replay will be accessible from February 28, 2022, 1:00 p.m. (Central) until March 7, 2022, 10:59 p.m. (Central).

HNI Corporation (NYSE: HNI) has announced a quarterly dividend of 31 cents per share on its common stock. This dividend will be payable on December 1, 2021, to shareholders of record as of November 22, 2021. HNI operates in two main segments: Workplace Furnishings, which designs and provides commercial furnishings, and Residential Building Products, focusing on hearth products like fireplaces and stoves. For more details, visit HNI’s website.