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) 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.
HNI Corporation (NYSE: HNI) will host its quarterly conference call to discuss second quarter fiscal 2022 results on July 28, 2022, at 11:00 a.m. Eastern. A live webcast will be available on its website, with a replay from 1:00 p.m. Central the same day until August 4, 2022. HNI plans to release its results prior to market opening on July 28. Investors can dial 1-855-761-5600 to participate in the call. For more details, visit HNI's investor page.
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.