HNI CORP (HNI) received a notice that Jeffrey D. Lorenger intends to sell HNI common stock under Rule 144. The planned transaction involves 700 shares, expected to be sold on 08/24/2026 through Fidelity Brokerage Services LLC on the NYSE, in connection with a stock option exercise for cash.
During the prior three months, Lorenger reported an additional sale of 45,850 shares of HNI common stock on 08/03/2026 for total proceeds of $2,180,204.18. The Form 144 is signed by Jennifer Ruchti as a duly authorized representative of Fidelity Brokerage Services LLC, acting as attorney-in-fact for Lorenger.
HNI Corporation (HNI) disclosed that its Board of Directors approved an additional expenditure of up to $200 million for repurchases of its outstanding Common Stock under the existing share repurchase program. As of August 17, 2026, HNI had $84.3 million of remaining authorization under this program.
Following the Board’s action, total share repurchase authorization under the program increased to $284.3 million. The program has no expiration date, does not require HNI to repurchase any shares, and its authorization may be terminated, increased, or decreased by the Board at any time.
HNI CORP (HNI) reported that director Timothy C. E. Brown acquired 263 shares of common stock on 2026-08-18 through a grant under the company’s 2017 Plan for Non-Employee Directors. The shares were received in lieu of quarterly board retainer fees of $12,500, bringing his direct holdings to 6,963 shares.
FMR LLC and Abigail P. Johnson report a significant ownership position in HNI CORP common stock. As of 06/30/2026, FMR LLC reports that it beneficially owns 10,634,659.54 shares of HNI common stock, representing 14.8% of the class. FMR LLC has sole voting power over 10,633,234 shares and sole dispositive power over 10,634,659.54 shares, with no shared voting or dispositive power.
Abigail P. Johnson is reported as having sole dispositive power over 10,634,659.54 shares and no voting power. One or more other persons have the right to receive dividends or sale proceeds on these shares, but no single such person has an interest exceeding five percent of the outstanding common stock. The position is held through subsidiaries identified in an attached exhibit.
HNI Corporation President & CEO Jeffrey D. Lorenger exercised 45,850.0000 stock options at $46.6200 per share on August 3, 2026, receiving an equal number of common shares, then sold 45,850.0000 shares at weighted-average prices of $47.4800 and $47.7800 pursuant to a Rule 10b5-1 plan adopted on February 27, 2026. On March 17, 2026, he contributed 96,007.0000 shares to a revocable trust for the benefit of himself and his family and reports indirect holdings of 313,061.4620 shares by that trust plus 7,674.1930 shares through a profit sharing retirement plan.
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.
Vanguard Capital Management reports a significant passive ownership position in HNI Corp common stock. As of June 30, 2026, it beneficially owned 3,764,330 shares, representing 5.22% of the class. Vanguard has sole voting power over 547,027 shares and sole dispositive power over all 3,764,330 shares, with no shared voting or dispositive power.
The position is aggregated across Vanguard Capital Management LLC and specified affiliates and business divisions, including investment companies and other managed accounts for which these entities exercise voting and/or dispositive authority. No other single person’s interest in the reported securities exceeds 5% of the class.
HNI Corporation reported second quarter 2026 net sales of $1,472.4 million, up 121% from $667.1 million, driven primarily by the December 2025 Steelcase acquisition; organic net sales rose 0.1%. Net income was $51.1 million. GAAP diluted EPS was $0.70, down 31.4%, while non-GAAP diluted EPS was $1.27, up 14.4%.
Workplace Furnishings net sales increased to $1,323.7 million (157% growth; 0.6% organic), with GAAP operating margin contracting to 7.7% and non-GAAP margin to 10.7% due to Steelcase-related costs, purchase accounting, and restructuring. Residential Building Products net sales declined 1.6% to $148.7 million, but non-GAAP operating margin expanded to 20.4%.
The company highlights net tariff benefits, productivity gains, and ongoing cost actions. Management now expects 2026 non-GAAP EPS growth of 20–25% including net tariff impacts, and projects nearly $30 million in network optimization savings through 2028 plus at least $120 million of Steelcase-related synergies at full maturity, supported by improving order trends and reduced net debt.
HNI Corporation refinanced its term debt by entering into Amendment No. 3 to its Credit Agreement, creating a new $498.75 million tranche of term loans maturing in 2032. The proceeds were used to repay all outstanding Initial Tranche B Term Loans.
The new Replacement Term Loans amortize at 1.00% per year, with the first principal installment due on or about September 30, 2026. Interest margins under the amended facility are set at 1.75% for SOFR-based loans and 0.75% for Alternate Base Rate loans, reflecting the updated pricing on HNI’s long-term borrowing.