Reuben Garner

Brian Gordon

Steven Ramsey

Greg Burns

David Macgregor

Gregory Burns

Brian Biros

- HNI Corporation reported **Q3 2025 non-GAAP diluted earnings per share of $1.10, a 7% increase year-over-year**, and achieved a **record third-quarter non-GAAP operating margin of 10.8%**.  **[0000048287_2209554_1]** 
- **Total net sales for Q3 2025 grew 3% organically** year-over-year, with the Workplace Furnishings segment also seeing **3% organic net sales growth** and an operating profit margin expansion of **40 basis points** to over **12%**.  **[0000048287_2209554_1]** 
- The company's **full-year 2025 earnings outlook remains unchanged**, projecting a **fourth consecutive year of double-digit non-GAAP EPS improvement** and **mid-teens % EPS growth**.  **[0000048287_2209554_1]** **[0000048287_2209554_3]** 
- For Q4 2025, both the Workplace Furnishings and Residential Building Products segments are forecast to achieve **high single-digit net sales growth** year-over-year.  **[0000048287_2209554_4]** 
- The pending Steelcase acquisition is anticipated to yield **$120 million in synergies** and **$1.20 per share in accretion** when fully mature, while existing initiatives (KI synergies and Mexico facility) are expected to contribute **$0.75-$0.80 of EPS** during 2025-2026.  **[0000048287_2209554_3]** **[0000048287_2209554_4]** **[0000048287_2209554_5]**

HNI Corporation Reports Strong Q3 2025 Results and Reaffirms Full-Year Outlook

- HNI Corporation reported **non-GAAP diluted earnings per share of $1.10** for Q3 2025, a **7% increase** year over year, with total net sales growing **3% organically**.  **[0000048287_2209551_1]** 
- The company achieved a **record third-quarter non-GAAP operating margin of 10.8%**, expanding **10 basis points** year over year.  **[0000048287_2209551_1]** 
- HNI maintains its **full-year 2025 earnings outlook**, expecting a **fourth consecutive year of double-digit non-GAAP EPS improvement** and **mid-teens % EPS growth**.  **[0000048287_2209551_1]** **[0000048287_2209551_3]** 
- For Q4 2025, both the workplace furnishings and residential building products segments are projected to see **high single-digit revenue growth** year over year.  **[0000048287_2209551_4]** 
- The pending Steelcase acquisition is expected to generate **$120 million in synergies** and ultimately contribute **$1.20 per share in accretion** when fully mature.  **[0000048287_2209551_4]** **[0000048287_2209551_5]**

HNI Corporation Reports Strong Q3 2025 Results and Reiterates Full-Year Outlook

- HNI Corporation reported **Q3 2025 non-GAAP diluted earnings per share of $1.10**, an increase of **7%** year over year, driven by a **record third-quarter non-GAAP operating margin of 10.8%**.  **[0000048287_2208418_1]** 
- Total net sales in Q3 2025 increased **3% organically** year over year, with workplace furnishings organic net sales also up **3%** and residential building products revenue roughly unchanged.  **[0000048287_2208418_1]** 
- The company's full-year 2025 earnings outlook remains unchanged, anticipating a **fourth consecutive year of double-digit non-GAAP earnings improvement** and **mid-teens % EPS growth**.  **[0000048287_2208418_1]** **[0000048287_2208418_3]** 
- For Q4 2025, both workplace furnishings and residential building products revenues are projected to increase at a **high single-digit rate** year over year organically.  **[0000048287_2208418_4]** 
- The pending acquisition of Steelcase is expected to generate **$120 million in synergies** and contribute **$1.20 per share in accretion** when fully mature.  **[0000048287_2208418_4]** **[0000048287_2208418_5]**

HNI Reports Strong Q3 2025 Results and Provides Outlook

- **HNI Corporation reported a 1.7% year-on-year revenue increase to $683.8 million for Q3 2025**, with **adjusted earnings per share of $1.10 exceeding analyst estimates**.  **[48287_6cf06bec93374400ac799a95c7f03cfd]** 
- The **Workplace Furnishings segment's net sales rose 2.3%**, though the overall operating margin decreased from 10.5% to 9.4%.  **[48287_6cf06bec93374400ac799a95c7f03cfd]** 
- The company achieved its **highest third-quarter non-GAAP operating margin of 10.8%**, an improvement of 10 basis points year-over-year, driven by profit transformation initiatives.  **[48287_6cf06bec93374400ac799a95c7f03cfd]** 
- HNI plans to **complete the acquisition of Steelcase by the end of 2025** and anticipates **high single-digit sales growth** for both its Workplace Furnishings and Residential Building Products segments in Q4 FY25.  **[48287_6cf06bec93374400ac799a95c7f03cfd]**

HNI Corporation Reports Q3 2025 Results with Revenue Growth and Acquisition Plans

- HNI Corporation reported **Q3 2025 net sales of $683.8 million** and **non-GAAP diluted EPS of $1.10**, representing a **7%** year-over-year increase in non-GAAP EPS.  **[48287_0000048287-25-000134_hni-ex991q32025.htm:0]** 
- The company achieved its **highest third quarter non-GAAP operating margin of 10.8%**.  **[48287_0000048287-25-000134_hni-ex991q32025.htm:0]** 
- The acquisition of Steelcase (NYSE: SCS) is expected to close before the end of calendar 2025.  **[48287_0000048287-25-000134_hni-ex991q32025.htm:0]** **[48287_0000048287-25-000134_hni-ex991q32025.htm:1]** 
- HNI anticipates **mid-teens percent diluted non-GAAP EPS growth** for the full year 2025 and maintains **elevated earnings growth visibility through 2026**.  **[48287_0000048287-25-000134_hni-ex991q32025.htm:5]** 
- The Corporation reduced debt by **$120 million** during the quarter, bringing gross debt leverage to **0.9x**.  **[48287_0000048287-25-000134_hni-ex991q32025.htm:1]**

HNI Corporation Reports Strong Q3 2025 Results and Provides 2025-2026 Outlook

- HNI Corporation has extended the expiration date of its Exchange Offer and Consent Solicitation for Steelcase's **5.125% Notes due 2029** from **October 27, 2025**, to **December 5, 2025**, at 5:00 p.m., New York City time.  **[48287_0000950103-25-013681_dp236330_ex9901.htm:1]** **[48287_0000950103-25-013681_dp236330_8k.htm:1]** 
- The Exchange Offer seeks to exchange up to **$450,000,000** aggregate principal amount of Steelcase notes for new HNI notes.  **[48287_0000950103-25-013681_dp236330_ex9901.htm:1]** **[48287_0000950103-25-013681_dp236330_8k.htm:1]** 
- As of **October 27, 2025**, **$350,767,000** principal amount, representing **77.95%** of the Existing Steelcase Notes, had been validly tendered.  **[48287_0000950103-25-013681_dp236330_ex9901.htm:2]** 
- The Exchange Offer and Consent Solicitation are conditioned upon the **consummation of HNI's acquisition of Steelcase**, though the acquisition is not dependent on the completion of the Exchange Offer.  **[48287_0000950103-25-013681_dp236330_ex9901.htm:1]** **[48287_0000950103-25-013681_dp236330_8k.htm:1]** 
- Consents sufficient to amend the Existing Steelcase Indenture were received by **October 9, 2025**, and a supplemental indenture was executed on that date, becoming operative upon the settlement of the Exchange Offer.  **[48287_0000950103-25-013681_dp236330_ex9901.htm:1]** **[48287_0000950103-25-013681_dp236330_8k.htm:1]**

HNI (HNI)