Sales & Profits Rise for HNI

Feb 25, 2019

Sales and profits rose last year for HNI Corporation. Based in Muscatine, the maker of office furniture and fireplace hearth products reports sales in 2018 went up nearly 4 per cent, and earnings per share rose 5 1/2 per cent. 

Full year office furniture net sales increased 2.7 percent from the prior year, while hearth product sales for the year went up 7 percent, thanks to increases in the new construction and retail businesses.

For the first quarter of this year, HNI predicts sales will drop 3 to 5 percent, but by the end of the year it's expecting an increase of 2 to 6 per cent. Profits could reach $2.50 to $2.90 per share up from this year's $2.11.