HNI Corporation raised its full-year 2026 non-GAAP EPS growth outlook to 20% to 25% and increased its Steelcase synergy target to at least $120 million. Second-quarter non-GAAP EPS was $1.27, up 14% year-over-year, while total net sales increased 121% overall, driven by the Steelcase acquisition. In the Residential Building Products segment, revenue decreased 1.6% versus the prior year period, though segment operating margin expanded 470 basis points to 20.4%. The company expects third-quarter non-GAAP EPS to increase in the mid- to high-20% range and projects double-digit EPS growth again next year, driven primarily by synergies and network optimization rather than volume recovery.
HNI CorpRaises 2026 EPS growth outlook and increases synergy target, indicating strong financial performance.
Acquisition synergies increased to at least $120M, benefiting Steelcase as part of HNI.