logo
Plus   Neg
Share
Email

HNI Corp. Q1 Profit Tops Estimates; Organic Sales Down 3.4% - Quick Facts

HNI Corp. (HNI) reported first-quarter non-GAAP net income per share of $0.02 compared to $0.10, a year ago. The company said a higher effective tax rate resulted in $0.04 of the decrease. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.01 for the quarter. Analysts' estimates typically exclude special items.

For the first-quarter, net sales decreased 5.1 percent year-over-year to $479.5 million. On an organic basis, sales decreased 3.4 percent. Analysts expected revenue of $485.33 million for the quarter.

For fiscal 2019, the company expects organic sales to be up 2 to 6 percent, updated from the prior guidance of up 3 to 7 percent. Full year earnings per share guidance remains unchanged, in the range of $2.50 to $2.90.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Nestle Prepared Foods, part of Swiss food and beverage giant Nestle SA, has recalled around 762,615 pounds of not-ready-to-eat or NRTE pepperoni hot pockets as it might be contaminated with extraneous materials including glass and hard plastic, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. Lake Champlain Chocolates or LCC has recalled select LCC milk chocolate products citing the possible presence of foreign objects, mainly brittle plastic pieces, according to the U.S. Food and Drug Administration. The affected products include Hazelnut Five Star Bar; Fruit & Nut Five Star Bar; Almond Five Star Bar; Granola Five Star Bar... A public health alert has been issued for ready-to-eat or RTE beef jerky products by the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The warning is given due to misbranding and the presence of undeclared anchovies, a known allergen. A recall was not requested because the products are not currently available for sale to consumers.
RELATED NEWS
Follow RTT