Quarterly ResultAug 4, 2026, 08:37 AM
HNI Q3 Net Sales $1.47B, up 121%; Steelcase acquisition boosts revenue
AI Summary
HNI Corporation reported Q3 2026 net sales of $1,472.4 million, a 121% increase from the prior year, primarily driven by the acquisition of Steelcase in December 2025. Net income attributable to HNI Corporation for the quarter was $51.1 million, or $0.70 diluted EPS, compared to $48.2 million, or $1.02 diluted EPS, in Q3 2025. The company also made goodwill measurement period adjustments related to the Steelcase acquisition, decreasing goodwill by $124.7 million, and refinanced its Term B Loans with a new $499 million tranche.
Key Highlights
- Steelcase acquisition completed in December 2025 for approximately $1.9 billion.
- Q3 2026 Net Sales surged 121% to $1,472.4 million from $667.1 million YoY.
- Q3 2026 Net Income attributable to HNI was $51.1 million, up from $48.2 million YoY.
- Q3 2026 Diluted EPS decreased to $0.70 from $1.02 YoY.
- Six-month Net Cash Flows from Operating Activities were $(32.0) million.
- Goodwill decreased by $124.7 million due to Steelcase acquisition adjustments.
- Term B Loans refinanced with a new $499 million tranche in June 2026.
- Total Debt increased to $1,375.2 million from $1,293.1 million since Jan 2026.
Price Impact
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