HNI Q1 sales down 16.3% YoY, EPS $0.04 GAAP; Workplace orders up 13%

HNI CORP

2023-Q1 EPS reported $0.04 revenue$479,100,000

Q1 net sales $479.1M, GAAP EPS $0.04 vs $0.33 YoY; non-GAAP EPS $0.13 vs $0.33.
Workplace Furnishings operating loss narrowed 42% on price-cost and productivity; organic orders +13%.
Residential Building Products sales -18.2%, operating margin 15.6% (down from 18.4%) on housing weakness.
Acquisition of Kimball International (~$455M) expected to close early June; HSR cleared; shareholders vote May 31.
FY outlook: ~80% of profit in H2; Q2 op income expected to exceed Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HNI CORP reported first quarter ended April 1, 2023 results: revenue $479.1 million, net income $1.6 million, EPS $0.04.

Period: first quarter ended April 1, 2023
Revenue: $479.1 million
Net income: $1.6 million
EPS: $0.04
Result: reported results

Exact text from the filing

HNI Corporation (NYSE: HNI) today announced sales for the first quarter ended April 1, 2023 of $479.1 million and net income of $1.6 million. GAAP net income per diluted share was $0.04

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36 earnings releases filed in the last 30 days. Browse all earnings releases →

HNI CORP filing history →

Source: SEC EDGAR

accession 0000048287-23-000145

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