HNI Corporation

41.40-3.30 (-7.38%)

Oct 29, 4:00:02 PM EDT · NYSE · HNI · USD

Upcoming Earnings

Report date

EPS

0.48 (0.40 ~ 0.55)

Revenue

621.80M (610.21M ~ 640.20M)

Key Stats

Market Cap

1.90B

P/E (TTM)

13.89

Basic EPS (TTM)

2.98

Dividend Yield

0.03%

Recent Filings

8-K

HNI starts Steelcase notes exchange

9/26/25Sep 26, 2025

HNI Corporation launched an exchange offer on September 26, 2025, for Steelcase's $450 million 5.125% notes due 2029, swapping them for identical new HNI notes secured by combined assets, tied to its pending acquisition. This move, paired with a consent solicitation to ease Steelcase's indenture covenants, supports the cash-and-stock deal announced August 4, aiming for Q4 2025 close and $5.7 billion pro forma sales. Early tenders snag extra $30 principal plus $2.50 consent cash per $1,000. Yet regulatory snags could derail it.

8-K

HNI Corporation secures $1.725B in financing, including $425M revolving credit and up to $1.3B term loans, to acquire Steelcase Inc., with the deal triggering a merger under the August 3, 2025 agreement, repay existing debts, and fund related expenses.

9/5/25Sep 5, 2025

HNI Corporation enters into a $1.725B credit agreement to finance the acquisition of Steelcase Inc., featuring a $425M revolving facility, $500M Term Loan A, and up to $800M Term Loan B, with covenants limiting leverage to 3.50:1.00 and interest coverage to 3.50:1.00 post-closing.

8-K

HNI acquires Steelcase for $2.2B

8/4/25Aug 4, 2025

HNI Corporation announced a $2.2 billion acquisition of Steelcase on August 3, 2025, blending complementary portfolios and dealer networks to expand customer reach across segments like corporate and education. Shareholders get $7.20 cash plus 0.2192 HNI shares per Steelcase share, yielding pro forma revenue of $5.8 billion and Adjusted EBITDA of $745 million, with $120 million in run-rate cost synergies. The deal, backed by $1.1 billion in committed debt, eyes closure by year-end 2025, yet integration risks loom large.

10-Q

Q2 FY2025 results

7/29/25Jul 29, 2025

HNI Corporation posted solid Q2 FY2025 results, with net sales climbing 7.0% year-over-year to $667.1 million, fueled by volume gains in workplace furnishings and pricing in both segments, though tempered by the HNI India divestiture. Gross margin expanded 1.0 percentage point to 42.9%, thanks to improved net productivity, while operating income surged 27.6% to $68.2 million on higher volumes and efficiencies, despite a $2.7 million pension settlement hit. Diluted EPS rose to $1.02 from $0.75, aligning with 47.1 million shares. Cash from operations held at $43.7 million for the half-year, supporting $79.8 million in stock buybacks; debt stands at $444.4 million with full $425 million revolver access and covenant compliance. The India sale closed in April 2025 for $8.5 million net proceeds, booking a $6.4 million loss. Yet competition in office furnishings remains fierce.

8-K

HNI Q2 sales up 7%, EPS surges

7/24/25Jul 24, 2025

HNI Corporation reported Q2 2025 net sales of $667.1 million, up 7% year-over-year, with net income hitting $48.2 million and GAAP diluted EPS at $1.02, a 36% jump. Volume growth fueled Workplace Furnishings' 7.4% sales rise to $516 million and Residential Building Products' 5.3% increase to $151.1 million, while operating margins expanded sharply to 10.2% and 11.0% on GAAP and non-GAAP bases. Earnings visibility strengthens through 2026 via Kimball synergies and Mexico ramp-up, adding $0.50-$0.60 EPS over 18 months. Yet tariffs paused hospitality demand.

About

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. It operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, storage, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands. This segment sells its products through independent dealers, wholesalers, office product distributors, e-commerce focused resellers, and wholesalers, as well as directly to end-user customers and governments. The Residential Building Products segment provides various gas, wood, electric, and pellet-fueled prefabricated fireplaces; and inserts, hearth stoves, facings, outdoor fire pits and fire tables, and accessories. This segment sells its products primarily for home use under the Heatilator, Heat & Glo, Majestic, Monessen, Quadra-Fire, Harman, Vermont Castings, PelPro, Stellar, SimpliFire, The Outdoor GreatRoom Company, and Forge & Flame brand names through independent dealers and distributors, and corporation-owned distribution and retail outlets. The company was incorporated in 1944 and is headquartered in Muscatine, Iowa.

CEO

Mr. Jeffrey D. Lorenger J.D.

IPO

3/17/1980

Website

https://www.hnicorp.com

Employees

7,600

Sector

Consumer Cyclical

Industry

Furnishings, Fixtures & Appliances