As of May 8, 2023, HNI Corporation, a prominent furniture manufacturer, has projected a return to pre-pandemic earnings seasonality. The company anticipates that 80-85% of its annual profit will be generated in the second half of the year, which is more in-line with historical trends. This is a significant improvement from the previous year, where only 60% of the profit was generated in the second half of 2022. The company’s positive outlook is attributed to a combination of factors, including the seasonally weakest quarter, challenging year-ago comparisons, and the impact of a softening demand environment linked to the COVID-19 pandemic. HNI Corporation expects a return to normal seasonal trends after three years of abnormal seasonal trends. The 2022 seasonality was particularly affected by backlog dynamics and deteriorating demand.
HNI Corporation: A Leading Provider of Office Furniture and Home Furnishings with Impressive Earnings and Revenue Growth
On May 8, 2023, HNI Corporation (HNI) opened at $25.30, up from its previous close of $24.90. The day’s range was between $24.83 and $25.59, with a volume of 12 shares traded.
HNI Corporation has a market capitalization of $1.1 billion and is a leading provider of office furniture and home furnishings. The company’s earnings growth in the last year was an impressive 115.77%. However, this year’s earnings growth has decreased by 27.27%. Nonetheless, the company is expected to have an earnings growth of 8.00% over the next five years.
HNI Corporation’s revenue growth in the last year was 8.12%, which is a positive sign for investors. The company’s P/E ratio is 8.6, and the price/sales ratio is 0.51. The price/book ratio is 1.69, which indicates that the stock is trading at a discount compared to its book value.
HNI Corporation operates in the consumer durables sector and the home furnishings industry. The company is headquartered in Muscatine, Iowa.
HNI Corp to Announce Q2 Earnings on May 8, 2023: Investors Await Financial Results
HNI Corp, a leading office furniture manufacturer, is expected to announce its earnings for the current quarter on May 8, 2023. The company’s stock performance has been the subject of much speculation in recent months, with investors eagerly awaiting news of its financial results.
According to CNN Money, the three analysts who have offered 12-month price forecasts for HNI Corp have a median target of $36.00, with a high estimate of $36.00 and a low estimate of $34.00.
The current consensus among two polled investment analysts is to buy stock in HNI Corp, a rating that has remained unchanged since March.
Looking ahead, investors will be closely watching HNI Corp’s earnings announcement on May 8, 2023, for signs of a recovery in the company’s financial performance.