HNI Corporation Reports Earnings for Third Quarter Fiscal Year 2020
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HNI Corp. (HNI) Tops Q3 EPS by 25c, Revenues Beat
October 19, 2020 8:02 AM EDTHNI Corp. (NYSE: HNI) reported Q3 EPS of $0.71, $0.25 better than the analyst estimate of $0.46. Revenue for the quarter came in at $507.1 million versus the consensus estimate of $496.5 million.
Third Quarter Highlights
Strong results in Residential Building Products: Third quarter operating profit increased 27 percent; operating margin expanded 270 basis points; and net sales grew 9.3 percent on a year-over-year basis.Solid profits in Workplace Furnishings: Third quarter 2020 operating profit was nearly $17 million, despite a 27 percent year-over-year contraction on the segments top line.Continued strong cash flow: Third quarter operating cash flow increased $12.7... More