secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2022-10-24T23:59:59+00:00
Accession:  0000048287-22-000178
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HNI Q3 non-GAAP EPS $0.71 beats $0.43 prior year; Lamex sale gains $0.50; demand softens, outlook lowered
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- Q3 GAAP EPS $1.51 (includes $0.50 gain from Lamex sale); non-GAAP EPS $0.71 up 65% YoY.
- Revenue $598.8M, +2.1% YoY; organic +3.3%; Workplace Furnishings -4.6%, Residential Building Products +15.5%.
- Initiated $30M annual cost savings; Workplace orders fell 15%, Residential orders fell 6% in Q3.
- Q4 outlook: Workplace revenue decline low-teens; Residential revenue growth low-to-mid single digits; non-GAAP EPS modestly above prior year but down sequentially.
- Balance sheet strong; low leverage; free cash flow expected to support investment, dividends, M&A, buybacks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000004828722000178/0000048287-22-000178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000004828722000178/hni-20221024.htm
  HTML page:      https://secwatch.observer/filing/0000048287-22-000178

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