HNI Corp. Q1 Results Top Estimates

RTTNews | il y a 829
HNI Corp. Q1 Results Top Estimates

(RTTNews) - HNI Corp. (HNI) reported Monday that net income attributable to the company for the first quarter plunged to $1.6 million or $0.04 per share from $14.2 million or $0.33 per share in the year-ago quarter. Excluding special items, adjusted net income for the quarter was $0.13 per share.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 16.3 percent to $479.1 million from $572.3 million in the same quarter last year. On an organic basis, sales decreased 14.0 percent. The Street was looking for sales of $462.26 million for the quarter.

Looking ahead, the Corporation continues to expect earnings seasonality will be more in-line with pre-pandemic trends. It now expects to generate approximately 80 percent of its annual profit in the second half of 2023, compared to approximately 60 percent in the second half of 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
HNI Corp. Q1 Results Top Estimates

HNI Corp. Q1 Results Top Estimates

HNI Corp. (HNI) reported Monday that net income attributable to the company for the first quarter surged to $17.7 million or $0.37 per share from $1.6 million or $0.04 per share in the year-ago quarter.
RTTNews | il y a 472
U.S. Producer Price Growth Far Exceeds Estimates In July

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.
RTTNews | il y a 1h 25min
U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.
RTTNews | il y a 1h 58min
UK GDP Rises More Than Expected

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe
RTTNews | il y a 2h 39min
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.
RTTNews | il y a 3h 10min
S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.
RTTNews | il y a 3h 13min