HNI Corp. (HNI) Tops Q2 EPS by 10c, Revenues Beat; Lowers FY18 Mid-Point EPS Outlook Below Consensus

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Go back to HNI Corp. (HNI) Tops Q2 EPS by 10c, Revenues Beat; Lowers FY18 Mid-Point EPS Outlook Below Consensus

HNI Corporation Reports Strong Sales Growth Continued During Second Quarter Fiscal Year 2018

July 23, 2018 4:15 PM EDT

MUSCATINE, Iowa, July 23, 2018 /PRNewswire/ -- HNI Corporation (NYSE: HNI) today announced sales for the second quarter ended June 30, 2018 of $543.6 million and net income of $18.6 million.  GAAP net income per diluted share was $0.42 compared to $0.31 in the prior year.  Non-GAAP net income per diluted share was $0.44 compared to $0.42 in the prior year.  GAAP to non-GAAP reconciliations follow the financial statements in this release.

Summary Comments

"Our strong sales momentum continued during the second quarter.  Results were better than expected in both our Hearth and Office Furniture businesses.  The investments we've... More