Quarterly ResultJul 30, 2026, 07:36 AM
HNI Q2 Non-GAAP EPS $1.27 (+14%); Net Sales $1.5B (+121%)
AI Summary
HNI Corporation reported solid second-quarter 2026 results with non-GAAP diluted EPS of $1.27, up 14% year-over-year, and net sales of $1.5 billion, a 121% increase driven by the Steelcase acquisition. While GAAP diluted EPS declined to $0.70, the company highlighted accelerating demand trends and an improved outlook for 2026, expecting 20-25% non-GAAP EPS growth. The integration of Steelcase is progressing well, with significant synergies anticipated, and net debt levels were meaningfully reduced.
Key Highlights
- Non-GAAP diluted EPS for Q2 2026 was $1.27, an increase of 14% year-over-year.
- Net sales reached $1.5 billion, up 121% year-over-year, primarily due to the Steelcase acquisition.
- Workplace Furnishings net sales increased 157% to $1.3 billion, with organic sales up 0.6% YoY.
- Residential Building Products net sales decreased 1.6% to $148.7 million.
- Workplace Furnishings Q2 orders grew 5% organically year-over-year.
- Full-year 2026 non-GAAP EPS growth is now expected to be 20-25%, including net tariff impacts.
- Steelcase acquisition is expected to generate at least $120 million in synergies when fully mature.
- Net debt levels were reduced meaningfully during the quarter.
Price Impact
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