HNI Q1 Net Loss of $38.8 Million Amid Steelcase Deal; Non-GAAP EPS $0.34
HNI Corporation reported first quarter 2026 results for the period ended April 4, 2026. Net sales rose 125 percent to $1.3 billion, driven by the Steelcase acquisition, but organic net sales fell 3.2 percent and the company posted a net loss of $38.8 million, or $(0.55) per diluted share, versus net income of $13.9 million, or $0.29, a year earlier. Non-GAAP diluted EPS declined to $0.34 from $0.44, and the company expects mid-teens percent non-GAAP EPS growth for full-year 2026.
Key points
- Net sales of $1.3 billion, up from $599.8 million a year earlier; organic net sales decreased 3.2 percent
- GAAP net loss of $38.8 million, or $(0.55) per diluted share, compared with net income of $13.9 million, or $0.29, in the prior-year quarter
- Non-GAAP diluted EPS of $0.34 versus $0.44; restructuring and impairment charges were $18.0 million
- Outlook: second quarter non-GAAP EPS expected to decline modestly; full-year 2026 non-GAAP EPS growth expected in the mid-teens percent range
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.