HNI CORP

HNI Corporation announced strong third-quarter results, with GAAP diluted EPS of $1.23 and non-GAAP diluted EPS of $1.62, both exceeding expectations. Net sales surged 133% to $1.6 billion, primarily due to the Steelcase acquisition, while organic net sales saw a 5.6% increase. Both the Workplace Furnishings and Residential Building Products segments reported positive order growth. The company reaffirmed its outlook for low-single-digit organic net sales growth for the full year and anticipates 20-25% non-GAAP diluted EPS growth in 2026.

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.

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.

HNI Corporation entered into Amendment No. 3 to its Credit Agreement, effectively refinancing its existing term loans. This amendment establishes a new $498.75 million tranche of Replacement Term Loans, which are set to mature in 2032. The proceeds from these new loans were utilized to fully refinance all outstanding Initial Tranche B Term Loans, with an amortization rate of 1.00% per annum.

Allsteel, a brand of HNI Corporation, has launched Levra™, a new performance seating product designed for modern work styles. Developed with ITO Design, Levra features a patent-pending structural knit back and weight-activated response for intuitive comfort and movement. The product has already received the Interior Design magazine HiP Award and emphasizes responsible manufacturing practices, including zero-waste knitting and carbon neutrality.

Allsteel, a brand of HNI Corporation, has launched "Flourish," a new collaborative chair designed for modern office environments. The chair blends sculptural form with tailored comfort, reflecting the evolving culture of work with its distinctive design, interchangeable wood and metal base options, and 22 wood stain finishes. Flourish is engineered to meet 95th percentile BIFMA standards and will officially launch in June at Fulton Market Design Days.

HNI CORP's Board approved a new Change in Control (CIC) Employment Agreement for Executive Vice President and CFO Vincent P. Berger II, effective June 1, 2026. This agreement, substantially identical to the prior one, aims to ensure management continuity during a potential change in control. It outlines severance benefits, including a lump-sum payment and continued benefits, upon a double-trigger event. Additionally, the company held its annual shareholders' meeting on May 20, 2026, with 63,426,629 shares voted.

HNI Corp reported a net loss of $(38.8) million, or $(0.55) per diluted share, for the first quarter ended April 4, 2026, a significant decline from a net income of $13.9 million, or $0.29 per diluted share, in the prior-year period. Net sales surged to $1,347.5 million from $599.8 million, primarily driven by the acquisition of Steelcase Inc. in December 2025. The company incurred $3.5 million in acquisition costs and $18.0 million in restructuring and impairment charges during the quarter, contributing to the net loss.

HNI Corporation reported first-quarter 2026 financial results with net sales of $1.3 billion. GAAP diluted EPS was $(0.55), while non-GAAP diluted EPS reached $0.34, modestly exceeding internal expectations despite demand pressures from geopolitical conditions. The company expects low-single digit organic net sales growth for the full year and anticipates a fifth consecutive year of double-digit non-GAAP EPS growth in 2026, driven by cost management, Steelcase synergies, and network optimization.

Allsteel, a workplace solutions leader and subsidiary of HNI Corp, has unveiled its newly redesigned Boston showroom. The dynamic environment redefines the modern workplace, showcasing adaptable and future-ready office solutions grounded in human-centric design. The showroom features five distinct experiential zones, reflecting evolving workstyles and Allsteel's innovative approach to workplace strategy.