HNI Q2 Adj $0.79 Beats $0.61 Estimate, Sales $623.70M Miss $637.82M Estimate
Portfolio Pulse from Benzinga Newsdesk
HNI (NYSE:HNI) reported Q2 earnings of $0.79 per share, beating the analyst estimate of $0.61 by 29.51%. However, sales of $623.70 million missed the estimate of $637.82 million by 2.21%. Earnings increased by 43.64% year-over-year, while sales grew by 10.68%.
July 25, 2024 | 11:32 am
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HNI reported strong Q2 earnings of $0.79 per share, significantly beating the analyst estimate of $0.61. However, sales of $623.70 million fell short of the $637.82 million estimate. Despite the sales miss, both earnings and sales showed substantial year-over-year growth.
The significant beat on earnings per share (EPS) is likely to have a positive impact on HNI's stock price in the short term. The sales miss is relatively minor and is offset by the strong year-over-year growth in both earnings and sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100