HNI Q1 Earnings Call Highlights

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HNI (NYSE:HNI) executives said the institution delivered first-quarter 2026 results up of interior expectations contempt a slower commencement to the twelvemonth successful its Workplace Furnishings business, citing outgo controls, pricing actions and productivity gains arsenic offsets to softer demand.

Chairman, President and CEO Jeff Lorenger said the 4th reflected the company’s quality to negociate done “a hard and dynamic environment” and said HNI inactive expects “a beardown twelvemonth successful 2026,” including humble gross maturation successful some large segments and a 5th consecutive twelvemonth of double-digit net improvement.

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Executive Vice President and Chief Financial Officer V.P Berger said diluted non-GAAP net per stock totaled $0.34 successful the quarter, somewhat up of interior expectations. Non-GAAP results excluded items totaling $88 million, astir of which were tied to acquisition accounting impacts from the Steelcase acquisition. Total nett income accrued 125% overall, portion integrated income declined 3%.

Workplace Furnishings request improved precocious successful the 4th

HNI said request successful Workplace Furnishings was pressured aboriginal successful the 4th by geopolitical and macroeconomic uncertainty, including the struggle successful the Middle East, concerns astir the U.S. system and tariff impacts. Lorenger said bequest Workplace Furnishings nett income declined astir 5% twelvemonth implicit twelvemonth connected an integrated basis, with weakness concentrated among ample firm customers during January and February. Businesses focused connected tiny and medium-sized customers posted humble growth.

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Management said bid trends improved successful March and continued to fortify into the 2nd quarter. Berger said bequest Workplace orders were down 3% successful the archetypal quarter, portion declaration orders, including some bequest HNI and Steelcase, were down person to 5%. However, helium said momentum improved done the 4th and continued implicit the astir caller five-week period.