secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0000048287-23-000145
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000004828723000145/0000048287-23-000145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000004828723000145/hni-20230508.htm
  HTML page:      https://secwatch.observer/filing/0000048287-23-000145

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