Welcome to our dedicated page for Hni news (Ticker: HNI), a resource for investors and traders seeking the latest updates and insights on Hni stock.
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.
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HNI Corporation (NYSE: HNI) will discuss its first quarter fiscal 2023 results during a conference call on May 8, 2023, at 11:00 a.m. Eastern. Investors can join the call by dialing 1-855-761-5600 with Conference ID: 7175411. A live webcast will also be available on HNI's website, and a replay of the call will be accessible from 1:00 p.m. Central on the same day until May 15, 2023. HNI aims to release its first-quarter results before the market opens on May 8, 2023. The company operates in two segments: Workplace Furnishings and Residential Building Products, holding a strong position in both commercial furnishings and hearth products markets.
HNI Corporation (NYSE: HNI) has announced its acquisition of Kimball International (NASDAQ: KBAL) in a cash and stock transaction valued at approximately $485 million. Each Kimball shareholder will receive $9.00 in cash plus 0.1301 shares of HNI common stock, resulting in Kimball shareholders owning around 10% of the combined entity. The merger is projected to generate $25 million in annual cost synergies within three years, enhancing HNI's revenue potential, which will reach approximately $3.1 billion post-transaction. The deal has been unanimously approved by both companies' boards and is expected to close by mid-2023.
HNI Corporation (NYSE: HNI) reported full-year 2022 sales of $2.362 billion and a net income of $123.9 million. The GAAP net income per diluted share rose to $2.94 from $1.36 in 2021. In Q4 2022, sales were $568.9 million, down 6% year-over-year, but net income increased by 105% to $16.3 million. The company experienced significant margin expansions, with non-GAAP gross margin up 390 basis points.
Despite a challenging environment, HNI expects continued pressure in 2023 but anticipates improved long-term profitability through strategic actions and a strong balance sheet with a gross leverage ratio of 0.7.
HNI Corporation (NYSE: HNI) declared a quarterly dividend of 32 cents per share on its common stock, reinforcing its commitment to returning value to shareholders. This dividend will be payable on March 8, 2023, to shareholders on record as of February 27, 2023. HNI operates in the workplace furnishings and residential building products sectors, indicating a robust market presence.
HNI Corporation (NYSE: HNI) will hold its quarterly conference call on February 23, 2023, at 11:00 a.m. Eastern to discuss its fourth quarter and year-end fiscal 2022 results. Results will be posted before the market opens on the same day. Investors can participate in the call by dialing 1-855-761-5600 and using the conference ID 7175411. A live webcast will also be available on HNI's website, with a replay accessible from February 23 at 1:00 p.m. Central through March 2. For more information, visit HNI's Investor Relations page.
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.
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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.