HNI Corp. (HNI) Tops Q1 EPS by 4c

HNI Corp. (NYSE: HNI) reported Q1 EPS of $0.26, $0.04 better than the analyst estimate of $0.22. Revenue for the quarter came in at $477.67 million versus the consensus estimate of $470.07 million.

GUIDANCE:

HNI Corp. sees Q2 2017 EPS of $0.65-0.72 versus consensus of $0.71. Sees organic sales up 4-7 percent

Sees FY2017 EPS of $2.80-$3.10, versus the consensus of $2.94. Sales expected to be up 3-6 percent.

Clarity on guidance from the press release: "The Corporation estimates full year non-GAAP earnings per share to be in the range of $2.80 to $3.10, which excludes restructuring and transition costs. Full year organic sales are expected to be up 3 to 6 percent. Including the impacts of acquisitions and divestitures, sales are expected to be up 2 percent to down 1 percent.

For the second quarter, organic sales are expected to be up 4 to 7 percent led by 12 to 15 percent organic growth in the contract office furniture business. Including the impacts of acquisitions and divestitures, total sales are expected to be flat to up 3 percent. Non-GAAP earnings per share are anticipated to be in the range of $0.65 to $0.72 for the second quarter, which excludes restructuring and transition costs."

For earnings history and earnings-related data on HNI Corp. (HNI) click here.

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