HNI Q1 EPS $0.37 (+825% GAAP, +185% non-GAAP); Workplace margin expands 730 bps

HNI CORP

2024-Q1 EPS reported $0.37 revenue$588,000,000

Revenue $588.0M (+22.7% total; organic -8.1% due to housing softness).
GAAP operating income $29.7M (362% YoY); non-GAAP operating margin 5.1% (up 300 bps).
Workplace Furnishings operating margin 6.0% (+730 bps GAAP; legacy organic margin 4.3%).
Residential Building Products sales -17.4% to $148.2M; margin 14.4% (-120 bps).
Q2 non-GAAP EPS expected to increase solidly YoY; full-year EPS to increase strongly.

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 0.98

HNI CORP reported first quarter ended March 30, 2024 results: revenue $588.0 million, net income $17.7 million, EPS $0.37. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $588.0 million
Net income: $17.7 million
EPS: $0.37
Guidance: reaffirmed
Result: reported results

Exact text from the filing

HNI Corporation (NYSE: HNI) today announced sales for the first quarter ended March 30, 2024 of $588.0 million and net income of $17.7 million.

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Source: SEC EDGAR

accession 0000048287-24-000095

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