Challenges and Opportunities of “Hybrid Work” for HNI Workplace Furnishings; Variations Across Customers and Markets
KEY POINTS On December 1, Water Tower Research hosted executives of HNI Corporation to discuss the hybrid office and its impact on HNI. The call...
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3Q22 EPS Beats Estimates; Revenues Miss; 4Q22 Guidance Cut Reflecting Challenging Business; Now Implying Lower Earnings for 2023
KEY POINTS Before market open on October 24, HNI reported 3Q22 results. Non-GAAP (adjusted) EPS of $0.71 on sales of $598.8 million beat our EPS...
673 Views
Updating Our Estimates for the 3QF22 and 4QF22 To Reflect Industry and Macro Data Since July
KEY POINTS We are updating our estimates for HNI to reflect incoming data on industry shipments and deteriorating macroeconomic conditions, while...
733 Views
Reviewing 2Q22 Results and Updating Estimates; Strong Sales and Improved Profits Versus 2Q21; Softening Macroeconomy Catalyzes More Cautious Outlook
KEY POINTS Highlights from 2Q22. HNI reported strong sales and improving profits as price increases began recapturing margin lost to inflation....
664 Views
Initiating Coverage: Two Storied Companies Combine – An In-Depth Examination of Herman Miller and Knoll, Together as MillerKnoll
KEY POINTS Herein, we introduce coverage of MillerKnoll, Inc. (MLKN), the resulting corporate entity (and stock ticker) after Herman Miller...
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