AP NEWS
ADVERTISEMENT

HNI: 4Q Earnings Snapshot

February 20, 2020 GMT

MUSCATINE, Iowa (AP) _ HNI Corp. (HNI) on Wednesday reported fourth-quarter profit of $47.6 million.

On a per-share basis, the Muscatine, Iowa-based company said it had net income of $1.10. Earnings, adjusted for restructuring costs, came to $1.12 per share.

The maker of office furniture and fireplaces posted revenue of $616.1 million in the period.

For the year, the company reported profit of $110.5 million, or $2.54 per share. Revenue was reported as $2.25 billion.

HNI expects full-year earnings in the range of $2.60 to $2.90 per share, with revenue in the range of $2.3 billion to $2.35 billion.

ADVERTISEMENT

HNI shares have risen roughly 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.09, a decline of 8% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HNI at https://www.zacks.com/ap/HNI