HNI Reports $38.8M Q1 Loss, Organic Sales Drop 3.2% and Forecasts Double-Digit EPS Growth
HNI Corporation posted a Q1 net loss of $38.8 million, or $0.55 per share, compared with a $13.9 million profit, or $0.29 a share, a year earlier. Consolidated net sales rose 125% to $1.3 billion driven by acquisitions while organic revenue fell 3.2%, and the company forecasts double-digit non-GAAP EPS growth for 2026.
1. Q1 Financial Results
HNI reported a Q1 net loss attributable to HNI of $38.8 million, or $0.55 per share, compared with a profit of $13.9 million, or $0.29 a share, a year earlier. Adjusted EPS was $0.34, down from $0.44 in the prior year.
2. Sales Performance
Consolidated net sales increased 125% to $1.3 billion, driven primarily by recent acquisitions, while organic revenue decreased 3.2% year-over-year due to softer demand in office furniture and fireplace segments.
3. 2026 Outlook
The company expects to deliver double-digit non-GAAP EPS growth in 2026, reflecting anticipated cost efficiencies and integration benefits from recent acquisitions.