HNI Corporation (HNI), a manufacturer of workplace furnishings and residential building products, on Wednesday reported a loss for the fourth quarter, mainly due to acquisition costs and higher cost of sales.
The company posted a loss of $49.2 million or $0.94 per share for the quarter, compared with profit of $38.3 million or $0.79 per share a year ago.
Acquisition costs of $86.3 million were recorded during the current quarter in connection with the acquisition of Steelcase.
Excluding one-time items, the company posted adjusted EPS of $0.83.
Operating loss was $31.2 million compared with operating profit of $54.6 million last year.
Adjusted operating income rose to $64.6 million from $59.7 million a year ago.
Net sales increased 38.3% to $888.4 million from $642.5 million in the previous year. On an organic basis, net sales increased 10.1 percent year-over-year.
For the first quarter, HNI expects net sales to increase by more than 130% year-over-year, including Steelcase revenue, while adjusted EPS is expected to decrease slightly from 2025 levels.
For the full year, net sales are expected to more than double, and adjusted EPS is forecast to grow at a double-digit pace.
HNI shares were up 1.91% in pre-market trading after closing at $48.57 on Tuesday.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.