HNI CORP (HNI) Form 10-Q — Nov 3, 2026
HNI Corporation's Q3 2026 10-Q shows net sales of $1.59 billion, up 133% year over year, almost entirely driven by the December 2025 acquisition of Steelcase, which added $856.6 million in quarterly sales. Net income rose 118% to $90.0 million, or $1.23 per diluted share versus $0.88 a year ago. The Steelcase integration is weighing on margins and nine-month results: nine-month EPS fell to $1.40 from $2.19 as purchase accounting ($110.9 million), restructuring ($43.1 million including termination of Steelcase's ERP project), and higher interest expense ($63.8 million vs $18.9 million) offset the sales gains.
Key figures
- Eps
- 1.23
- Net Income
- 90
- Revenue Yoy
- 133%
- Cash Position
- 110.3
- Interest Rate
- 5.4% (revolver/TLA); 5.5% TLB; 5.125% public notes
- Shares Outstanding
- 72273322
- Buyback remaining
- 277.9
- Operating income q3
- 136.7
- Steelcase deal value
- approximately $1.9 billion ($1,922.3 million)
- Capex fy2026 guidance
- $125 to $130 million
- Dividend per share q3
- 0.35
- Nine month net income
- 102.3
- Nine month eps diluted
- 1.4
- Prior year q3 net sales
- 683.8
- Prior year q3 eps diluted
- 0.88
- Operating cash flow nine month
- 163.3
- Prior year nine month eps diluted
- 2.19
AI analysis
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