Hni Corp

Gross debt leverage at the end of the second quarter was 1.4x, as calculated in accordance with the Corporation s debt agreements.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

The Corporation continued to deploy cash flow 1 through nearly $40 million of stock repurchase activity in the second quarter, while maintaining its longstanding quarterly dividend.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Current priorities for capital deployment are reinvesting in the business, funding dividends, pursuing share buybacks, and exploring M A opportunities.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Incurred primarily in 2025, capitalized costs related to the transaction included $ 12.0 million of financing fees in "Long-Term Debt," $ 2.0 million of financing fees in "Other Assets," $ 0.5 million of financing fees in "Prepaid expenses and other current assets," and $ 2.1 million of stock issuance fees in "HNI Corporation's shareholders' equity" in the Condensed Consolidated Balance Sheets.

SEC original ↗Hni Corp — 10-Q Quarterly report10-QAug 4, 2026

The pro forma results include certain purchase accounting adjustments such as: elimination of sales between HNI Corporation and Steelcase-owned dealers; estimated depreciation and amortization expense on acquired tangible and intangible assets; stock based compensation associated with additional awards; interest associated with additional borrowings to finance the acquisition; non-recurring transaction costs as outlined above; and the impact to income tax expense.

SEC original ↗Hni Corp — 10-Q Quarterly report10-QAug 4, 2026

The Credit Agreement establishes (i) a senior secured revolving credit facility (the Revolving Facility, and the loans thereunder, the Revolving Loans ), (ii) a senior secured term loan A credit facility (the TLA Facility, and the loans thereunder, the Term A Loans ) and (iii) a senior secured term loan B credit facility (the TLB Facility, and the loans thereunder, the Term B Loans ).

SEC original ↗Hni Corp — 10-Q Quarterly report10-QAug 4, 2026

The improvement was driven by volume growth, profit transformation initiatives, and synergy benefits.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

These two initiatives contributed approximately $0.24 of EPS benefit in the first half of 2025 and are expected to contribute an additional $0.50 to $0.60 of EPS over the next 18 months.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

The strength of our strategies, the benefits of our diversified revenue streams, and the merits of our customer-first business model continue to deliver strong shareholder value.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

This includes a return to growth in our brands focused on small-and-medium sized businesses and noteworthy strength in our contract brands.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Second quarter results benefited from solid volume growth, our profit transformation efforts, and recognition of KII synergies driving solid year-over-year profit margin expansion, with GAAP and non-GAAP segment operating profit margin at 12.8 percent and 13.1 percent respectively.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

This excludes hospitality, which saw a significant tariff-related demand pause during the second quarter of 2025.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Our members delivered another excellent quarter, despite ongoing tariff-driven volatility.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Despite expectations of ongoing housing uncertainty, we remain encouraged about the long-term opportunities tied to the broader housing market.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

However, the overall segment sales outlook is essentially unchanged driven by lower projected pricing realization primarily driven by reduced impacts from tariffs.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

For the full year 2025, the Corporation expects to offset the majority of any tariff-driven pressures.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025

Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Corporation s actual future results and performance to differ materially from expected 6 results.

SEC original ↗Hni Corp — Earnings release (8-K exhibit)EX-99Jul 24, 2025