secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0000048287-24-000191
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HNI Q3 GAAP EPS $0.98 (+23% YoY), non-GAAP $1.03 (+11%); revenue down 5.5%; Q4 outlook soft
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- Q3 net sales $672.2M (-5.5% YoY); GAAP EPS $0.98 vs $0.80; non-GAAP EPS $1.03 vs $0.93.
- Workplace Furnishings non-GAAP operating margin hit 20-year high of 11.9% (up 190 bps YoY).
- KII acquisition synergies raised to $60M total; Mexico facility ramp adds $20-25M; $45-50M benefit expected 2025-2026.
- Q4 revenue expected to decline low-to-mid single digits in Workplace and low single digits in Residential; non-GAAP EPS to decrease YoY.
- Full-year 2024 non-GAAP EPS expected to grow 10%+ for third consecutive year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000004828724000191/0000048287-24-000191-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000004828724000191/hni-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000048287-24-000191

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