📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding HNI

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	13.8K	$461K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used specific figures (41% EPS growth, 90 bps gross margin expansion, 200 bps operating margin expansion) and declared 'another excellent quarter'. They provided detailed segment breakdowns and increased full-year EPS outlook modestly, signaling high conviction in their execution and forward visibility.

Q3 2025

Confident Specific

Management used precise figures and reiterated unchanged guidance, e.g., 'non-GAAP EPS increased 7%', 'record third quarter non-GAAP operating margin of 10.8%', and 'full-year earnings outlook is unchanged'. They also provided specific growth drivers and market data, indicating confidence in their plans.

Q4 2025

Confident Specific

Management used terms like 'excellent results', 'fourth straight year of double-digit non-GAAP EPS growth', and 'strong shareholder value'. They gave specific forward guidance including EPS accretion from Steelcase and detailed margin expansion targets.

Q1 2026 latest

Confident Specific

Management led with 'solid first quarter results that exceeded our internal expectations' and provided detailed order progression, external industry metrics, and specific guidance percentages to support their bullishness despite a slower start.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears unchanged to slightly stronger after this call. Early softness in Workplace Furnishings due to macro uncertainty was temporary and is being offset by proactive cost management and improving order trends in March/April. Management's detailed guidance for back-half acceleration and reiterated double-digit EPS growth builds confidence. The Steelcase acquisition remains on track for targeted synergies, and the termination of the ERP project demonstrates disciplined capital allocation. Key items to watch next quarter: actual order progression vs. bullish internal indicators, any further tariff impacts on price/cost, and timing of Steelcase accretion turning from neutral to positive in H2.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED HNI Q1 non-GAAP EPS $0.34; net sales +125% (incl. Steelcase); expects double-digit EPS growth in 2026-2027.

Revenue & Profitability

Q1 GAAP diluted EPS was $0.55; non-GAAP diluted EPS was $0.34. Total net sales rose 125% year-over-year (organic -3%). Workplace Furnishings segment non-GAAP operating profit reached almost $49 million, nearly double the prior-year level. Residential Building Products segment operating profit margin expanded 190 bps to 17.6%. Full-year 2026 non-GAAP EPS is expected to grow mid-teens from the prior-year base of $3.53.

Outlook

Management remains bullish on workplace demand, citing a return-to-office trend, positive office leasing activity (up 7% year-over-year), and net absorption of office space for the third consecutive quarter. For full-year 2026, legacy Workplace Furnishings revenue is expected to grow at a low single-digit rate (high single-digit in the back half). Residential Building Products is expected to deliver modest price-driven revenue growth despite ongoing housing market softness.

Growth Drivers

Key growth levers include: (1) strengthening order patterns and a growing funnel of large-dollar projects in Workplace Furnishings; (2) expected high single-digit revenue growth in the latter half of 2026; (3) Steelcase margin accretion (net neutral in H1, modestly accretive in H2); (4) market outperformance in Residential Building Products through structural go-to-market initiatives; and (5) cost management actions and network optimization savings.

Balance Sheet & CapEx

Combined depreciation and amortization (excluding purchase accounting impacts of approximately $105 million) is expected to be about $150 million–$155 million for 2026. Net interest expense is projected to be $75 million–$80 million. Specific capital expenditure guidance was not provided on the call.

Margins

Both segments are expected to expand margins in 2026. Q1 Residential Building Products operating margin improved 190 bps to 17.6%. Productivity, cost management, price/cost benefits, Steelcase synergies, and network optimization are projected to more than offset volume headwinds and investments. Combined Steelcase and legacy network savings are expected to exceed $70 million in 2027 and more than $150 million when fully mature.

Key Risks

Key risks flagged include: ongoing geopolitical and macro uncertainty (particularly the conflict in the Middle East), the impact of tariffs and trade policy, demand softness in Workplace Furnishings during January/February, continued weakness in the new home construction market, elevated interest rates, and housing affordability concerns. Management also cited the risk of project delays and order timing shifts.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Second quarter results featured strong non-GAAP EPS growth, margin expansion, and robust order momentum, driven by Steelcase integration and disciplined cost management. Full-year guidance was raised, with double-digit EPS growth expected in 2026 and 2027, supported by synergy realization and market outperformance.

Q1 2026 Q1 2026 2026-05-06

Q1 2026 results exceeded expectations with strong cost management and successful Steelcase integration. Double-digit non-GAAP EPS growth is projected for 2026 and 2027, supported by synergy capture, margin expansion, and resilient segment performance.

Q4 2025 Q4 2025 2026-02-25

Delivered double-digit EPS growth for the fourth consecutive year, expanded margins, and completed the Steelcase acquisition, positioning for further revenue and profit growth in 2026. Integration is progressing well, with $120 million in targeted synergies and strong cash flow expected.

Q3 2025 Q3 2025 2025-10-28

Q3 saw 7% non-GAAP EPS growth and record margins, with both segments delivering or outperforming expectations. The Steelcase acquisition is set to add $120M in synergies and $1.20 per share accretion, while strong free cash flow will support rapid deleveraging.

Q2 2025 Q2 2025 2025-07-24

Non-GAAP EPS rose 41% year-over-year on strong revenue and margin expansion in both segments. Full-year guidance was raised, with double-digit EPS growth expected for a fourth consecutive year, supported by operational efficiencies and ongoing investments.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.