HNI Earnings: Everything You Must Know Now

HNI Corp. (NYSE:HNI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

HNI Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 64.71% to $0.28 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Rose 6.31% to $510.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: HNI Corp. reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $509.25 million.

Quoting Management: “Our growth investments delivered solid top and bottom line improvement in our office furniture and hearth businesses. Office furniture sales growth was led by a strong acceleration in our contract business driven by improved project activity. Continued strong profit growth in our hearth business was led by substantial growth in the new construction channel and strong operational execution,” said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.

Key Stats (on next page)…

Revenue increased 15.46% from $442.3 million in the previous quarter. EPS increased 833.33% from $0.03 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.65 to a profit $0.64. For the current year, the average estimate has moved up from a profit of $1.38 to a profit of $1.40 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)