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Mar 28, 2020
HNI Q1 2020 Earnings Report
HNI Corporation reported a net loss for Q1 2020, but non-GAAP EPS increased significantly due to price realization and cost savings initiatives.
Key Takeaways
HNI Corporation reported a decrease in net sales by 2.2% to $468.7 million and a net loss of $23.9 million for the first quarter of 2020. However, non-GAAP EPS increased to $0.21, driven by price realization and cost savings initiatives, despite the impact of the COVID-19 pandemic.
Consolidated net sales decreased by 2.2% year-over-year to $468.7 million.
Gross profit margin expanded by 220 basis points compared to the prior-year quarter.
Non-GAAP operating profit expanded 279 percent from the prior-year quarter.
Hearth Products segment revenue increased 2.6 percent organically from the prior-year quarter.
Revenue by Segment
Forward Guidance
Although volumes and profit levels will be adversely impacted by the pandemic, the company will adjust its business, maintain its long-term focus, and utilize its strong balance sheet to successfully weather this crisis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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