Tuesday, HNI Corp. (HNI) reported a loss for the fourth quarter due to a decline in sales across segments.
Net loss attributable to parent company was $10.77 million or $0.24 per share, compared with a net income of $8.51 million or $0.19 per share a year-ago. Non-GAAP net income per share was $0.26, compared with $0.45 last year.
On average, five analysts polled by Thomson Reuters estimated earnings of $0.24 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter declined by 35.2% to $413.67 million from $637.94 million a year-ago. Four Wall Street analysts estimated revenues of $418.48 million.
Segment-wise, office furniture sales declined to $328.45 million from $512.83 million, while hearth products sales declined to $85.22 million from $125.11 million a year-ago.
Selling and administrative expenses declined 16.5% to $135.42 million from $173.06 million in the year-ago period. Restructuring and impairment charges were higher at $27.04 million, compared with $21.51 million in the year-ago period.
Year-to-date net loss attributable to parent company was $6.44 million or $0.14 per share, compared with net income of $45.45 million or $1.02 per share a year-ago. Non-GAAP net income per share declined to $0.70 from $1.46 in the year-ago period. Net sales for the year declined to $1.65 billion from $2.47 billion in the year-ago period. Street estimated earnings of $0.55 per share on revenues of $1.66 billion.
HNI closed Tuesday's last trade at $25.53, up $0.35 or 1.39%, on a volume of 168 thousand shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
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.