HNI Expects Kimball International To Add $215M To $225M Of Incremental Revenue To 2024 And Be Solidly Accretive To Earnings
Portfolio Pulse from Benzinga Newsdesk
HNI Corporation expects Kimball International to contribute an additional $215M to $225M in revenue for 2024, significantly boosting earnings. Kimball International added $16M to Q4 operating profit with an 11% margin and contributed $0.07 to non-GAAP EPS. Expected annual cost synergies have been revised up to $35M from $25M, to be achieved in 2024.
February 22, 2024 | 12:34 pm
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POSITIVE IMPACT
HNI Corporation expects significant revenue and earnings growth in 2024 from Kimball International's contribution, with increased cost synergies.
The positive impact on HNI's stock is due to the expected significant increase in revenue and earnings from Kimball International's contribution. The upward revision of cost synergies indicates efficient integration and operational improvements, likely leading to investor optimism.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90