Hni Corp ( (HNI) ) has released its Q1 earnings. Here is a breakdown of the information Hni Corp presented to its investors.
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HNI Corporation, a prominent player in the manufacturing sector, specializes in workplace furnishings and residential building products, offering a diverse range of commercial and hearth products under various brand names.
In its first quarter of 2025, HNI Corporation reported a solid financial performance with a 2% increase in net sales year-over-year, reaching $599.8 million. The company also achieved a non-GAAP EPS of $0.44, marking a 19% increase from the previous year, despite a 22% decline in GAAP EPS.
Key highlights from the report include a notable expansion in non-GAAP operating margin to 5.3%, the highest first-quarter level since 2007, driven by profit transformation initiatives and synergy benefits from the Kimball International acquisition. The Residential Building Products segment showed robust growth with a 7.1% increase in net sales, while the Workplace Furnishings segment saw a slight increase in sales, supported by strong contract orders and backlog levels.
Looking ahead, HNI Corporation maintains an optimistic outlook for 2025, expecting mid-single-digit net sales growth in Workplace Furnishings and low-to-mid single-digit growth in Residential Building Products. The company anticipates continued margin expansion and double-digit EPS growth, supported by strategic initiatives and operational efficiencies.
Overall, HNI Corporation’s first-quarter results reflect its resilience and strategic focus, positioning it well for sustained growth despite macroeconomic uncertainties.