– HNI Corporation experienced a strong start to the year with its Q1 earnings, largely due to the acquisition of Kimball International’s Poppin business.
– HNI’s net income swelled to $0.81 per share, an increase of 75% from the previous year’s 0.46 per share.
– Revenue totaled $538 million, a 6% increase from last year.
– HNI noted that the success was largely due to the acquisition of Poppin, which generated exceptional growth and profits.
– Poppin, a seller of commercial furniture, has bolstered HNI’s business since its acquisition last fall. With its focus on e-commerce growth, Poppin has contributed significantly to HNI’s income.
– This upward trend is expected to continue, as the company has predicted full year net income to be in the range of $2.30 to $2.60 per share, an increase from the previous estimate of $2.20 to $2.50.

Kimball acquisition powers HNI’s strong Q1 earnings

Net income soars 75%, largely due to Poppin addition

Outlook remains positive with predicted income increase

It’s a “Poppin” start of the year for HNI Corporation, thanks to its savvy purchase of Kimball International’s Poppin business. HNI saw its earnings skyrocket in Q1 with a remarkable 75% increase in net income per share and a 6% increase in revenue. The fantastic performance is largely credited to Poppin, the commercial furniture retailer that became part of the HNI family last fall. With Poppin’s focus on eCommerce growth, HNI’s income experienced a significant boost. Looking towards the future, the company is in high spirits. Predictions for the full-year net income are set at a range of $2.30 to $2.60 per share, proving that HNI is ready to pop those confetti cannons and celebrate its continued success.

originial article https://www.furnituretoday.com/?p=316438

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