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OFFON

HNI CORPORATION

(HNI)
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HNI : Q4 2020 HNI Corporation Earnings Presentation

03/01/2021 | 09:03am EST

Forward-Looking Statements

This presentation contains "forward-looking" statements based on current expectations regarding future plans, events, outlook, objectives, financial performance, expectations for sales growth, and earnings per diluted share (GAAP and non-GAAP), including statements regarding the expected effects on our business, financial condition and results of operations from the COVID-19 pandemic. Forward-looking statements can be identified by words including "expect," "believe," "anticipate," "estimate," "may," "will," "would," "could," "confident", or other similar words, phrases, or expressions. 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 results. These risks include but are not limited to: the duration and scope of the COVID-19 pandemic, and its effect on people and the economy; the levels of office furniture needs and housing starts; overall demand for the Corporation's products; general economic and market conditions in the United States and internationally; industry and competitive conditions; the consolidation and concentration of the Corporation's customers; the Corporation's reliance on its network of independent dealers; change in trade policy; changes in raw material, component, or commodity pricing; market acceptance and demand for the Corporation's new products; changing legal, regulatory, environmental, and healthcare conditions; the risks associated with international operations; the potential impact of product defects; the various restrictions on the Corporation's financing activities; an inability to protect the Corporation's intellectual property; impacts of tax legislation; and force majeure events outside the Corporation's control. A description of these risks and additional risks can be found in the Corporation's annual and quarterly reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q. The Corporation

assumes no obligation to update, amend, or clarify forward-looking statements, except as required by applicable law.

Q4 2020

Conference Call Agenda

  • V. Q&A

Q4 2020 Highlights

  • Residential Building Products operating profit grew 11% on a year-over-year basis in the fourth quarter,and total revenue increased 18% year-over-year

  • Workplace Furnishings segment operating profit exceeded $11 million in the fourth quarter, despite a 19% year-over-year decrease on the top line

  • Fourth quarter operating cash flow totaled $71 million, and quarter-ending cash balance increased by $7 million to $116 million

  • Closed the acquisition of Design Public Group in December

Year-Over-Year Order Patterns

Q4'20**

Q3'20

Workplace Furnishings*

-21%

-25%

Workplace Furnishings eCommerce

+51%

+36%

Residential Building Products

+24%

+13%

*Excluding eCommerce

**Includes benefit of extra week (~5% on average)

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

HNI Corporation published this content on 01 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2021 14:02:01 UTC.


© Publicnow 2021
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