HNI Corporation sees FY24 EPS ‘to increase strongly from 2023 levels’

Full-year earnings are expected to increase strongly from 2023 levels driven by continued margin expansion in Workplace Furnishings and the full-year benefit of accretion from KII. The Corporation continues to expect Workplace Furnishings organic revenue to increase at a low-single digit rate. Residential Building Products segment revenue trends are expected to improve as the year progresses, with year-over-year growth returning in the second half. Residential Building Products full-year revenue is expected to be flat-to-slightly down versus 2023 levels. This is a modest reduction from the outlook provided on the previous earnings call and is reflective of softer conditions in the R&R space and a slower start in new construction…”Our core strategies are unchanged. We are committed to continuing to expand margins in Workplace Furnishings and driving long-term revenue growth in Residential Building Products,” concluded Mr. Lorenger