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HNI Corp Q1 adjusted earnings Beat Estimates

HNI Corp (HNI) announced a profit for first quarter that declined from the same period last year.

The company's profit totaled $2.51 million, or $0.06 per share. This compares with $4.84 million, or $0.11 per share, in last year's first quarter.

Excluding items, HNI Corp reported adjusted earnings of $4.4 million or $0.10 per share for the period.

Analysts had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $505.07 million from $477.67 million last year.

HNI Corp earnings at a glance:

-Earnings (Q1): $4.4 Mln. vs. $11.8 Mln. last year.
-EPS (Q1): $0.10 vs. $0.26 last year.
-Analysts Estimate: $0.03
-Revenue (Q1): $505.07 Mln vs. $477.67 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.28 to $0.38
Full year EPS guidance: $2.40 to $2.70

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