Workplace furnishings manufacturer HNI Corporation (NYSE: HNI) will be reporting results this Tuesday before the bell. Here’s what to expect.
HNI met analysts’ revenue expectations last quarter, reporting revenues of $1.47 billion, up 121% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is HNI a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting HNI’s revenue to grow 134% year on year, improving from the 1.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. HNI has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at HNI’s peers in the business services & supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. MillerKnoll’s revenues decreased 3.4% year on year, missing analysts’ expectations by 2.1%, and UniFirst reported revenues up 5%, topping estimates by 1.7%. MillerKnoll traded down 1.4% following the results while UniFirst was up 4.6%.
Read our full analysis of MillerKnoll’s results here and UniFirst’s results here.
Investors in the business services & supplies segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. HNI is up 4.1% during the same time and is heading into earnings with an average analyst price target of $71 (compared to the current share price of $49.03).
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