Hni Corp Stock Price, News & Analysis

The HON Company has launched a new task seating solution named Cliq™, designed to enhance productivity and comfort in diverse work environments. Featuring a lightweight, modern design, Cliq™ incorporates a weight-activated control for instant comfort without adjustments. It is well-suited for collaborative and flexible office spaces, with options for fixed arms or armless designs. The seating comes in various colors and materials, catering to aesthetic preferences. HON emphasizes user-centric design, aiming to ease workspace challenges in 2021.

HNI Corporation (NYSE: HNI) has successfully completed its acquisition of Design Public Group, a prominent e-commerce distributor of high-design furniture for offices and homes. The transaction, which closed on December 31, 2020, was funded through HNI's available cash and did not affect its debt levels. By integrating Design Public's digital capabilities, HNI aims to enhance its digital and e-commerce initiatives, effectively broadening its consumer reach in the increasingly online furniture market.

HNI Corporation (NYSE: HNI) has entered into a definitive agreement to acquire Design Public Group, a top e-commerce distributor of high-design furniture and accessories.

The acquisition includes websites like designpublic.com and danishdesignstore.com, expanding HNI's e-commerce presence.

This deal, expected to close by year-end, will not significantly impact 2020 sales or profits, and will be financed with cash on hand.

HNI Corporation (NYSE: HNI) has declared a quarterly dividend of 30.5 cents per share, set to be paid on December 1, 2020. Shareholders on record by the close of business on November 16, 2020, will receive this payment. As a manufacturer of workplace furnishings and residential building products, HNI operates through two key segments—Workplace Furnishings and Residential Building Products—positioning itself as a prominent player in both markets.

HNI Corporation (NYSE: HNI) has announced its 'Carbon Smart' initiatives aimed at combating climate change by committing to renewable energy and significant carbon emission reductions. As a signatory to the UN Global Compact, HNI pledges to align with sustainable business practices and has joined RE100, targeting 100% renewable electricity by 2030. The company has also set science-based targets, aiming for a 35% reduction in Scope 1 and 2 greenhouse gas emissions by 2025, and a 40% reduction in Scope 3 emissions per ton of goods sold by 2035, with 2018 as the base year.

HNI Corporation reported third-quarter 2020 sales of $507.1 million, down 18.9% year-over-year, with net income of $30.7 million and diluted EPS of $0.71, a 33.6% decline compared to last year. The Residential Building Products segment saw net sales growth of 9.3%, while Workplace Furnishings faced a 27.1% decline. Despite challenges, operating cash flow increased 12% year-over-year, totaling $143 million for the year-to-date. The company anticipates continued moderate declines in Workplace Furnishings for Q4 but expects growth in Residential Building Products.

The HON Company, based in Muscatine, Iowa, has launched the Astir™ collection of collaborative seating, designed for modern workplaces. This collection emphasizes flexibility, allowing for social distancing while promoting comfortable engagement among teams. Key features include multiple seating options, replaceable cushions, and high privacy screens. Each product meets ANSI/BIFMA standards and comes with a Lifetime Warranty. The Astir™ collection aims to enhance productivity and personalization in office environments.

HNI Corporation (NYSE: HNI) will hold its quarterly conference call on October 19, 2020 at 11:00 a.m. Eastern to discuss its third quarter fiscal 2020 results. The results will be released prior to market opening on the same day. Investors can participate by calling 1-877-512-9166 with Conference ID: 6673387. A live webcast will be available on HNI's website, with replays accessible from October 19, 1:00 p.m. Central to October 26, 10:59 p.m. Central. For inquiries, contact the Investor Relations Department at investorrelations@hnicorp.com.