Every 10-Q that Hni Corp (HNI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HNI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HNI filings page.
HNI Corporation delivered Q2 2026 results shaped by its December 2025 acquisition of Steelcase. Consolidated net sales reached $1,472.4 million, up 121% from Q2 2025, including $806.9 million from Steelcase. Gross margin improved to 44.0% from 42.9%, while net income attributable to HNI edged up to $51.1 million versus $48.2 million. Diluted EPS was $0.70 compared with $1.02 a year earlier, reflecting higher share count and acquisition-related costs.
For the first six months of 2026, net sales were $2,819.9 million, up 123%, but net income fell to $12.3 million from $62.2 million as operating margin declined to 2.0% from 7.3%. Results were pressured by $86.1 million of purchase accounting related to Steelcase (inventory step-up and intangible amortization), $35.9 million of restructuring and impairment charges, and sharply higher interest expense, partly offset by favorable tariff refunds that added 150 basis points to operating income and improved productivity.
As of July 4, 2026, HNI held $105.0 million of cash and cash equivalents and total debt of $1,375.2 million, including a $103.0 million draw on its $425 million revolving credit facility; the company remained in compliance with leverage and interest coverage covenants. Operating cash flow for the first half was a use of $32.0 million versus a $43.7 million source a year earlier amid higher working capital and acquisition-related payments. Workplace Furnishings net sales rose 162% year-to-date on Steelcase, though margins contracted, while Residential Building Products revenue was flat with modest margin expansion. HNI paid $0.69 per share in dividends in the first half and executed no share repurchases.
HNI Corporation’s first quarter of 2026 reflects a major step-change from the Steelcase acquisition, with significantly higher sales but a reported loss.
Net sales rose 125% to $1,347.5 million, driven by $774.0 million of revenue from Steelcase. However, HNI posted a net loss of $38.8 million (basic and diluted loss per share of $0.55), compared with net income of $13.9 million a year earlier.
Results were heavily affected by non‑recurring items tied to Steelcase. The quarter included $64.2 million of purchase accounting adjustments (including $33.5 million of inventory step‑up and additional depreciation and amortization) and $20.5 million of restructuring and impairment charges related to Steelcase’s ERP termination, network optimization, and the Wayland, New York facility closure, plus $3.5 million of acquisition costs.
Interest expense rose to $20.7 million from $5.5 million as total debt increased to $1,445.1 million following acquisition financing. Operating cash flow swung to an outflow of $171.8 million, largely from working capital and acquisition‑related settlements. Residential Building Products delivered modest 2.1% sales growth to $162.1 million and higher margins, while Workplace Furnishings absorbed most Steelcase‑related costs.
HNI Corporation reported Q3 results and detailed progress on its pending acquisition of Steelcase. Net sales were $683.8 million, up slightly from $672.2 million a year ago. Net income was $41.2 million versus $47.5 million, and diluted EPS was $0.88 versus $0.98. For the first nine months, sales reached $1,950.6 million with net income of $103.4 million. Operating cash flow strengthened to $198.9 million year‑to‑date.
HNI entered a definitive agreement to acquire Steelcase for consideration currently valued at approximately $2.1 billion, expected to close before the end of 2025, with stock-and-cash election mechanics and related financing in place. Year‑to‑date, the company recorded $8.3 million in transaction expenses in SG&A and $1.4 million in interest expense tied to the deal. HNI also divested its HNI India business for $8.1 million net proceeds, recognizing a $6.6 million pre‑tax loss. Long‑term debt was $324.2 million at quarter‑end, and the company paid a quarterly cash dividend of $0.34 per share. Shares outstanding were 45,831,261 as of September 27, 2025.