HNI

EX-99.1

2 hni-ex991q22026.htm

EX-99.1

Document

HNI Corporation 600 East Second Street, Muscatine, Iowa 52761, Tel 563 272 7400, Fax 563 272 7347, hnicorp.com

News Release

HNI CORPORATION REPORTS SECOND QUARTER 2026 RESULTS

Order Acceleration, Cost Actions, Net Tariff Impacts Support Improved 2026 Outlook

•GAAP diluted EPS for Q2 was $0.70 (-31% YoY). On a non-GAAP basis, diluted EPS was $1.27 (+14% YoY).

•Profit performance versus the prior year was driven by the Steelcase acquisition, net tariff impact, and operational productivity improvement.

•Revenue and non-GAAP diluted EPS (excluding net tariff impacts) for the second quarter of 2026 were in line with HNI's expectations.

•Accelerating demand trends — Workplace Furnishings Q2 orders and quarter-ending backlog each grew five percent year-over-year.

•Low-single digit organic net sales growth expectations remain for both segments in 2026.

•Non-GAAP EPS growth of 20-25 percent, including net tariff impacts, now expected in 2026 — the fifth straight year of double-digit non-GAAP EPS growth.

•Multiple years of elevated EPS growth visibility remain from sales growth, strategic initiatives, cost actions, and network optimization, plus at least $120 million of synergies expected from the Steelcase acquisition.

MUSCATINE, Iowa (July 30, 2026) – HNI Corporation (NYSE: HNI) today announced net sales of $1.5 billion and net income of $51.1 million for the second quarter ended July 4, 2026. Non-GAAP net income was $92.6 million. Non-GAAP to GAAP reconciliations follow the financial statements in this release.

Highlights

•Solid second quarter results. GAAP diluted EPS totaled $0.70 and diluted non-GAAP EPS of $1.27 was in line with internal expectations, excluding the net impact of tariffs. GAAP results include the impact of Steelcase purchase accounting, the details of which can be found later in the release.

•Revenue backdrop strengthened in the second quarter. Workplace Furnishings segment volume growth is expected to turn positive in the third quarter, with volume growth and price recognition driving high-single digit organic growth in the second half of 2026. In Residential Building Products, implemented structural changes organizing around the consumer and growth investments are expected to drive continued market outperformance, with modest price-driven net sales growth expected in the second half of 2026.

•Multiple sources of margin improvement and EPS visibility. The Corporation’s operating margin benefitted by 150 basis points in the second quarter from net tariff impacts, with 40-45 basis points of benefit expected for the full year 2026. In addition, efforts aimed at managing costs in the face of

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geopolitical and macro uncertainty, and at streamlining priorities across the organization to focus on profitable growth are ongoing and expected to support profitability in 2026 and in 2027. Further, the Corporation continues to expect network optimization savings in its legacy Workplace Furnishings businesses to total nearly $30 million (adding an expected $0.30 to non-GAAP diluted EPS) through 2028. In addition, synergies associated with the integration of Steelcase are progressing as planned and are now expected to add at least $120 million of operating profit when fully mature.

“Our second quarter demonstrates the focus of our members, is indicative of an improving demand environment, and supports expectations of stronger 2026 earnings growth. Through focused cost management and the net benefits of price-cost and productivity, we were able to deliver second quarter results that were in line with our expectations. And, encouragingly, our internal leading indicators—pre-order activity, orders, and backlog—improved further in the quarter. The positive momentum of our strategies—both revenue- and cost-focused, the benefits of our diversified revenue streams, the merits of our customer-first business model, and the integration of Steelcase continue to deliver strong shareholder value.

“In the legacy Workplace Furnishings businesses, which excludes Steelcase, second quarter net sales were up slightly year-over-year on an organic basis, consistent with commentary we provided last quarter. Growth was fueled by our businesses focused on small- and medium-sized workplace customers. Moreover, a firming industry backdrop became more apparent during the quarter. Overall, we saw solid profit improvement driven by favorable price cost and operational productivity gains and, when including Steelcase, non-GAAP operating income was nearly double the prior-year level. Looking ahead, we expect stronger organic revenue growth in the back half and solid year-over-year margin expansion in our legacy Workplace Furnishings businesses, while we continue to invest to drive growth.

“In Residential Building Products, net sales decreased 1.6 percent versus the prior-year period. Again, this was consistent with expectations communicated on the first quarter call.

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hni-202602250000048287false00000482872026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 25, 2026

HNI Corporation (Exact name of registrant as specified in its charter)

Iowa1-14225 42-0617510 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

600 East Second Street P. O. Box 1109 Muscatine, Iowa

52761-0071

(Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code: (563) 272-7400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

☒ Written communications pursuant to Rule 425 under the Securities Act

(17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Common StockHNINew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2 — Financial Information

Item 2.02    Results of Operations and Financial Condition.

On February 25, 2026, HNI Corporation issued a press release announcing its financial results for its fourth quarter and fiscal year ended January 3, 2026. A copy of the press release is furnished with this report as Exhibit 99.1 hereto.

In accordance with General Instruction B.2 to Form 8-K, the information contained in this Item 2.02 and in Exhibit 99.1 to this current report is being “furnished” with the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under such section. Further, such information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified as being incorporated therein by reference.

Section 9 — Financial Statements and Exhibits

Item 9.01          Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit No.Description

99.1Press release dated February 25, 2026

104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

* * *

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HNI CORPORATION

Date:February 25, 2026 By:/s/ Vincent P. Berger Vincent P. Berger Executive Vice President and Chief Financial Officer