HNI Corporation sees Q1 EPS up year-over-year, consensus 20c

The company said, “First quarter non-GAAP earnings per share are expected to increase year-over-year, with margin expansion and accretion from Kimball International more than offsetting macro-driven top line pressure. The Corporation expects first quarter Workplace Furnishings organic revenue to be down in the low-single digits versus the same quarter of 2023. KII is expected to add $125 to $130 million of revenue. In Residential Building Products, the Corporation expects first quarter revenue to be down in the low- to mid-teens year-over-year. This primarily reflects the impact from unwinding the elevated remodel-retrofit backlog in the year-ago period, partially offset by forecasted growth in new construction.”