Have you been paying attention to shares of HNI (HNI) ? Shares have been on the move with the stock up 8.8% over the past month. The stock hit a new 52-week high of $46.02 in the previous session. HNI has gained 9.8% since the start of the year compared to the 6.1% move for the Zacks Business Services sector and the 4.9% return for the Zacks Business - Office Products industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earnings cons ...

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. HNI (HNI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.HNI is one of 315 individual stocks in the Business Services sector. Collectively, thes ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- ...

Yeah. Budd, in the first quarter, we had about $14 million of favorable price cost. So that was the biggest item, but a very close second was productivity, which is about $12 million of benefit year-over-year. The actual Marshall Bridges Marshall Bridges Marshall Bridges Marshall Bridges Jeff Lorenger Budd Bugatch Jeff Lorenger Marshall Bridges So it'll be in that $135 million to $140 million range is your best guess now? Budd Bugatch Thanks, Budd. Kathryn Thompson Hey, Kathryn, good question. Just to clari ...

HNI (HNI) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 105.56%. A quarter ago, it was expected that this maker of office furniture and fireplaces would post earnings of $0.80 per share when it actually produced earnings of $0.98, delivering a surprise of 22.50%.Over the last four q ...

HNI Corporation 600 East Second Street, Muscatine, Iowa 52761, Tel 563 272 7400, Fax 563 272 7347, www.hnicorp.com News Release • Excellent earnings growth. First quarter earnings per share of $0.37 was up considerably on both a GAAP and non-GAAP basis versus the prior year despite an 8.1 percent year-over-year organic revenue decline, which was primarily driven by continued housing market softness. GAAP to non-GAAP reconciliations follow the financial statements in this release. • Profit transformation act ...

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.Our " ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 42-0617510 (I.R.S. Employer Identification No.) 600 East Second Street P. O. Box 1109 Muscatine , Iowa 52761-0071 (Address of principal executive offices) (Zip Code) ( 563 ) 272-7400 (Registrant's telephone ...

Financial Data and Key Metrics Changes - For Q4 2023, non-GAAP earnings per share increased by 56% year-over-year despite a 6% organic revenue decline, primarily due to housing market weakness [12][14] - The company achieved a gross leverage ratio of 1.9 times, down from over two times just two quarters after the Kimball International acquisition [39][40] - Non-GAAP EPS for 2023 increased by more than 20% year-over-year, building on a 35% increase in the prior year [14] Business Line Data and Key Metrics Changes - In Workplace Furnishings, the non-GAAP operating profit margin for legacy HNI was 7.2%, representing a 480 basis point year-over-year expansion [6][12] - The residential building products segment saw a non-GAAP operating margin improvement to over 22%, a 240 basis point increase year-over-year, despite a 13% revenue decline [21][22] - Orders from legacy contract customers were down 2% for the year but were flat in Q4 year-over-year, indicating stabilization [9][37] Market Data and Key Metrics Changes - The housing market showed signs of improvement, particularly in single-family permits and starts, which grew healthily in Q4 [23] - The company expects low single-digit organic revenue growth in both Workplace Furnishings and residential building products for 2024 [24] - The addition of Kimball International is projected to contribute $215 million to $225 million in incremental revenue in 2024 [25] Company Strategy and Development Direction - The company is focused on margin expansion in Workplace Furnishings and driving high-margin revenue growth in residential building products [31] - The integration of Kimball International is ahead of schedule, with expected annual cost synergies now projected at $35 million [30][36] - The company plans to continue investing in productivity improvements and cost reduction initiatives [7][16] Management's Comments on Operating Environment and Future Outlook - Management noted that demand remains choppy but stable, with encouraging trends in return-to-office metrics and lease expirations [17][18] - The company anticipates continued margin expansion and profitability improvements despite macroeconomic pressures [16][54] - Management expressed confidence in the long-term demand fundamentals for housing and renovation activities [38] Other Important Information - The company exceeded its initial $30 million corporate-wide cost savings target, achieving a run rate savings of $50 million by the end of 2023 [32] - The company is committed to reinvesting in the business, funding dividends, and pursuing share buybacks and M&A opportunities [43] Q&A Session Summary Question: Can you help us put together the moving pieces for 2024? - Management expects EPS growth in the high single digits to low teens, driven by margin expansion and accretion from Kimball International [48] Question: What are your expectations for the Residential Building Products segment? - Management anticipates new construction growth in the mid-single digits, with remodel retrofit expected to improve gradually [78] Question: Are you seeing any pickup in customer activity in the office market? - Management noted stabilization in the office market, with positive signs for small project business and furniture events [71][73] Question: How do you see the normal seasonality of earnings and revenues returning? - Management confirmed a return to normal seasonality, expecting roughly 30% of profit in the first half and 70% in the second half [87] Question: What are your long-term strategic plans post-Kimball International acquisition? - Management sees significant runway for profit and margin expansion, focusing on integrating Kimball International and driving growth in high-margin segments [88][89]

Marshall H. Bridges, Senior Vice President and Chief Financial Officer (563) 272-7400 Matthew S. McCall, Vice President, Investor Relations and Corporate Development (563) 275-8898 HNI CORPORATION REPORTS EARNINGS FOR FOURTH QUARTER AND FISCAL YEAR 2023 MUSCATINE, Iowa (February 22, 2024) – HNI Corporation (NYSE: HNI) today announced sales of $2.434 billion and net income of $49.2 million for the full year ended December 30, 2023. GAAP net income per diluted share was $1.09, compared to $2.94 in the prior y ...