secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0000048287-23-000186
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HNI Q2 GAAP loss $0.30/sh, non-GAAP EPS $0.55; plans Poppin divestiture
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- Net sales $563.5M (-9.4% YoY); GAAP net loss $12.8M vs $0.72 EPS prior year.
- Non-GAAP EPS $0.55, up 5.8% YoY; driven by favorable price-cost and profit improvement.
- Workplace non-GAAP op margin 8.5% (+550 bps excl. Kimball Intl); segment profit up 149%.
- Planned Poppin exit expects to increase annual op profit $20M, cut revenue $56M; completion Q3 2023.
- Kimball International (ex-Poppin) solidly accretive to 2023 non-GAAP EPS; adds $340-370M revenue.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000004828723000186/0000048287-23-000186-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000004828723000186/hni-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000048287-23-000186

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer