HNI Corporation Provides Revenue Guidance for the First Quarter and Full Year 2024
February 22, 2024 at 07:29 am EST
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HNI Corporation provided revenue guidance for the first quarter and full year 2024. The Corporation expected first quarter Workplace Furnishings organic revenue to be down in the low-single digits versus the same quarter of 2023. KII is expected to add $125 to $130 million of revenue. In Residential Building Products, the Corporation expected first quarter revenue to be down in the low- to mid-teens year-over-year.
For the full year, the Corporation expected 2024 organic revenue to grow at a low-single-digit rate in both Workplace Furnishings and Residential Building Products. For Workplace Furnishings, this outlook assumes demand conditions remain generally in-line with those experienced in the second-half 2023. In Residential Building Products, the Corporation expects growth in new construction to be partially offset by continued declines in remodel retrofit.
HNI Corporation is a provider of workplace furnishings and residential building products. The workplace furnishings segment manufactures and markets a line of commercial and home office furniture, which includes panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and social collaborative items. The residential building products segment manufactures and markets a range of gas, wood, electric, and pellet-fueled fireplaces, inserts, stoves, facings, outdoor fire pits and fire tables, and accessories. Its products are sold primarily through independent dealers, office product distributors, eCommerce retailers, and wholesalers but also directly to end-user customers and federal, state, and local governments. Its brands include HON, Allsteel, Beyond, Dâstyle, Gunlocke, Kimball, HBF, HBF Textiles and HNI India. It exports select products through its export subsidiary to North America, principally the Caribbean, Latin America, and Mexico.
HNI CORPORATION 
