HNI Corporation Reports Earnings Results for the Second Quarter and Six Months Ended July 01, 2023
August 08, 2023 at 07:30 am EDT
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HNI Corporation reported earnings results for the second quarter and six months ended July 01, 2023. For the second quarter, the company reported sales was USD 563.5 million compared to USD 621.7 million a year ago. Net loss was USD 12.8 million compared to net income of USD 30.3 million a year ago. Basic loss per share from continuing operations was USD 0.3 compared to basic earnings per share from continuing operations of USD 0.73 a year ago. Diluted loss per share from continuing operations was USD 0.3 compared to diluted earnings per share from continuing operations of USD 0.72 a year ago.
For the six months, sales was USD 1,042.5 million compared to USD 1,194.1 million a year ago. Net loss was USD 11.3 million compared to net income of USD 44.5 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 1.06 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 1.04 a year ago.
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 
