Latest news with #JeffLorenger
Yahoo
13-05-2025
- Business
- Yahoo
Office & Commercial Furniture Q1 Earnings: HNI (NYSE:HNI) Simply the Best
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let's take a look at how HNI (NYSE:HNI) and the rest of the office & commercial furniture stocks fared in Q1. The sector faces a tepid outlook as workplace dynamics continue to evolve. Hybrid work means that enterprise demand for office furniture is lower. Consumer demand for the same products likely will not offset the loss from enterprises, as individual workers tend to have less space and need for the sector's wares. The Trump administration also possesses a high willingness to impose tariffs on key partners, which could result in retaliatory actions, all of which could pressure those selling furniture that may feature components or labor from overseas. Lastly, the COVID-19 pandemic showed that there is always a risk that something disrupts supply chains, and companies need contingency plans for this. The 4 office & commercial furniture stocks we track reported a strong Q1. As a group, revenues along with next quarter's revenue guidance were in line with analysts' consensus estimates. Thankfully, share prices of the companies have been resilient as they are up 7.7% on average since the latest earnings results. With roots dating back to 1944 and a significant acquisition of Kimball International in 2023, HNI (NYSE:HNI) manufactures and sells office furniture systems, seating, and storage solutions, as well as residential fireplaces and heating products. HNI reported revenues of $599.8 million, up 2% year on year. This print exceeded analysts' expectations by 3.3%. Overall, it was a stunning quarter for the company with an impressive beat of analysts' EPS estimates. 'Our first quarter results demonstrate our ability to manage through varying macroeconomic conditions, while remaining focused on the future. And while we expect macro headwinds and demand volatility over the near-term, based on our leading indicators—both external and internal, we expect strong results to continue, driven by our margin expansion efforts and a return of volume growth,' stated Jeff Lorenger, Chairman, President, and Chief Executive Officer. HNI scored the biggest analyst estimates beat of the whole group. Unsurprisingly, the stock is up 12.9% since reporting and currently trades at $48.91. Is now the time to buy HNI? Access our full analysis of the earnings results here, it's free. Founded in 1912 when metal office furniture was replacing wooden alternatives, Steelcase (NYSE:SCS) is a global office furniture manufacturer that designs and produces workplace solutions including desks, chairs, architectural products, and services. Steelcase reported revenues of $788 million, up 1.7% year on year, in line with analysts' expectations. The business had an exceptional quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EPS guidance for next quarter estimates. The market seems content with the results as the stock is up 2% since reporting. It currently trades at $10.82. Is now the time to buy Steelcase? Access our full analysis of the earnings results here, it's free. Created through the 2021 merger of industry icons Herman Miller and Knoll, MillerKnoll (NASDAQ:MLKN) designs, manufactures, and distributes interior furnishings for offices, healthcare facilities, educational settings, and homes worldwide. MillerKnoll reported revenues of $876.2 million, flat year on year, falling short of analysts' expectations by 4.6%. It was a disappointing quarter with full-year revenue guidance missing analysts' expectations. MillerKnoll delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update in the group. The stock is flat since the results and currently trades at $18.18. Read our full analysis of MillerKnoll's results here. Pioneering carbon-neutral flooring since its founding in 1973, Interface (NASDAQ:TILE) is a global manufacturer of modular carpet tiles, luxury vinyl tile (LVT), and rubber flooring that specializes in carbon-neutral and sustainable flooring solutions. Interface reported revenues of $297.4 million, up 2.6% year on year. This number met analysts' expectations. It was a strong quarter as it also logged an impressive beat of analysts' EPS estimates and full-year revenue guidance slightly topping analysts' expectations. Interface pulled off the fastest revenue growth and highest full-year guidance raise among its peers. The stock is up 16.9% since reporting and currently trades at $22. Read our full, actionable report on Interface here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. 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Business Wire
29-04-2025
- Business
- Business Wire
HNI Corporation Releases New Corporate Responsibility Report
MUSCATINE, Iowa--(BUSINESS WIRE)-- HNI Corporation (NYSE: HNI) announced today the release of its biennial Corporate Responsibility Report, detailing the company's ongoing efforts to create lasting, positive impact across its operations, communities, and members. The report highlights meaningful progress toward HNI's measurable goals and reinforces its commitment to being a great place to work and a responsible global citizen. Report Highlights: Respecting people: HNI remains deeply invested in the well-being of its members and the communities in which it operates. Recent contributions include: A $1 million donation to the Muscatine Mulberry Health Clinic and a pledge of $500,000 to the Regional Wellness Center in Jasper, Indiana. Expanded support for members through translation services, language learning programs, and leadership training. Reducing impacts: Guided by a continuous improvement mindset, HNI has taken significant steps using sustainable resources and reducing its environmental footprint: Achieved a reduction of 79% in absolute combined Scope 1 and 2 greenhouse gas emissions. Advanced its zero waste to landfill initiative, with ten sites achieving zero waste to landfill and two sites earning third-party TRUE certification. Redefining tomorrow: HNI continues to lead with innovation, developing sustainable products and practices that shape a better tomorrow including: Elimination of expanded polystyrene foam packaging across Kimball International and Residential Building Products. Significant progress toward evaluating 100% of materials and chemical substances in products for human and environmental health. Advanced chemical transparency, including the publication of Health Product Declarations and Declare labels, as well as key steps toward identifying and eliminating per- and polyfluoroalkyl substances. 'At HNI, our actions are grounded in principles that prioritize today's needs while shaping a better tomorrow,' said Jeff Lorenger, Chairman, President, and Chief Executive Officer of HNI Corporation. 'Our progress reflects a strong commitment to responsible innovation and continuous improvement. We are proud of what we have achieved and invite you to explore our latest Corporate Responsibility Report to learn more about the initiatives driving meaningful change as we strive to continuously do better.' The report is available on the Corporation's website at About HNI Corporation HNI Corporation (NYSE: HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation's leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation's website at
