HNI Corp. (HNI) Tops Q1 EPS by 26c, Revenues Miss

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HNI Corporation Provides Pandemic Response Update; Reports Strong First Quarter 2020 Results

April 22, 2020 4:30 PM EDT

MUSCATINE, Iowa--(BUSINESS WIRE)-- HNI Corporation (NYSE: HNI) today announced sales for the first quarter ended March 28, 2020 of $468.7 million and net loss of $23.9 million. GAAP net income (loss) per diluted share was ($0.56), compared to $0.02 in the prior year. GAAP operating profit was impacted by intangible impairments and one-time charges related to the COVID-19 crisis of $37.7 million. Non-GAAP net income per diluted share was $0.21, compared to $0.02 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.

Pandemic Response Update

Health, safety, and community... More