HNI (HNI) Q3 FY2026 earnings: revenue $1.6 billion, up 132.9% on the year

HNI Corp. (HNI) reported revenue of $1.6 billion for Q3 FY2026, the quarter ended 3 October 2026, up 132.9% on the same quarter a year earlier. Net income was $90 million, up 118.4% on the year, and diluted earnings per share $1.23. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$1.6 billion

+132.9% on the year · +8.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

8.6%

9.4% a year earlier

Q4 FY2024Q3 FY2026

Net income

$90 million

+118.4% on the year · +76.1% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.23

+39.8% on the year · +75.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 4 new, 4 kept.

Sales rose on Steelcase consolidation: Net sales rose 133 percent to $1.6 billion, mainly from the Steelcase acquisition. Organic net sales grew 5.6 percent year-over-year.
Steelcase drives fourth-quarter profit growth: Management expects Q4 profit growth from Steelcase, productivity gains and expense management, offsetting year-over-year volume pressure.
Workplace volume turned positive: Workplace Furnishings volume growth turned positive in the third quarter, with price recognition also contributing. Excluding Steelcase, segment net sales rose nearly six percent.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,593	1,472	684	+8.2%	+132.9%
Cost of revenue	914	825	396	+10.8%	+131.1%
Gross profit	678	647	288	+4.8%	+135.5%
Gross margin	42.6%	44.0%	42.1%
Selling, general and administrative	534	533	214	+0.1%	+148.9%
Operating income	137	92.1	64.6	+48.4%	+111.6%
Operating margin	8.6%	6.3%	9.4%
Interest expense	19.4	23.7	7.2	-18.1%	+169.4%
Pre-tax income	121	71.2	57.4	+70.4%	+111.3%
Income tax	31.3	20.1	16.2	+55.7%	+93.2%
Effective tax rate	25.8%	28.2%	28.2%
Net income	90.0	51.1	41.2	+76.1%	+118.4%
Net margin	5.7%	3.5%	6.0%
Diluted EPS	$1.23	$0.70	$0.88	+75.7%	+39.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	195	140	155	+39.7%	+25.8%
Capital expenditure	n/a	n/a	19.6
Free cash flow	n/a	n/a	136
Free cash flow margin	n/a	n/a	19.8%
Cash from investing	-47.2	-6.7	-19.7
Cash from financing	-141	-101	-147
Depreciation and amortisation	70.4	66.2	24.9	+6.3%	+182.7%
Share-based compensation	5.8	9.6	3.3	-39.6%	+75.8%
Buybacks	5.6	0.0	3.8		+47.4%
Dividends paid	25.5	25.5	15.6	0.0%	+63.5%
Dividend per share	$0.35	$0.35	$0.34	0.0%	+2.9%
Diluted shares, weighted	72m	72m	47m	+0.6%	+55.2%
Shares outstanding at period end	72m	72m	46m	+0.1%	+57.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,869	1,805	836	+3.5%	+123.6%
Non-controlling interest	6.4	n/a	0.0
Debt	1,354	1,375	324	-1.5%	+317.8%
Operating lease liabilities	217	191	92.6	+13.5%	+134.3%
Finance lease liabilities	9.0	7.9	8.2	+13.9%	+9.8%
Other liabilities	1,530	1,438	582	+6.4%	+162.8%
Total liabilities and equity	4,986	4,818	1,843	+3.5%	+170.5%
Fixed assets	1,018	1,025	513	-0.7%	+98.3%
Goodwill	842	833	442	+1.1%	+90.5%
Intangible assets	624	626	113	-0.4%	+453.4%
Investments	12.7	10.9	9.8	+16.5%	+29.6%
Cash and equivalents	110	105	20.7	+5.0%	+432.9%
Inventory	508	499	194	+1.7%	+160.9%
Other assets	1,871	1,719	550	+8.9%	+240.3%
Total assets	4,986	4,818	1,843	+3.5%	+170.5%

Questions

What was HNI's revenue in Q3 FY2026?

HNI (HNI) reported revenue of $1.6 billion for Q3 FY2026, the quarter ended 3 October 2026, up 132.9% on the same quarter a year earlier.

How much did HNI earn in Q3 FY2026?

Net income for Q3 FY2026 was $90 million, up 118.4% on the year, and diluted earnings per share $1.23.

When did HNI report Q3 FY2026 results?

HNI filed its 10-Q for the quarter ended 3 October 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	603	572	622	599	569	479	564	712	680	588	624	672	642	600	667	684	888	1,348	1,472	1,593
Cost of revenue	409	375	401	389	361	305	348	426	407	355	362	393	382	361	381	396	525	848	825	914
Gross profit	194	197	221	210	208	174	216	285	273	233	261	279	260	238	286	288	363	500	647	678
Gross margin	32%	34%	35%	35%	37%	36%	38%	40%	40%	40%	42%	41%	41%	40%	43%	42%	41%	37%	44%	43%
SG&A	176	176	190	178	179	168	211	223	211	203	206	208	203	208	216	214	291	515	533	534
Operating income	11.9	20.4	29.9	81.9	23.0	6.4	-3.6	56.8	30.7	29.7	53.4	68.9	54.5	24.4	68.2	64.6	-31.2	-36.4	92.1	137
Operating margin	2%	4%	5%	14%	4%	1%	-1%	8%	5%	5%	9%	10%	8%	4%	10%	9%	-4%	-3%	6%	9%
Interest expense	n/a	2.0	2.1	2.4	2.3	2.7	5.5	9.4	7.9	7.6	7.4	7.1	5.1	5.5	6.1	7.2	16.8	20.7	23.7	19.4
Pre-tax income	10.2	18.5	27.8	79.5	20.6	3.8	-9.0	47.4	22.6	22.0	46.0	61.8	49.5	18.9	62.0	57.4	-47.5	-55.6	71.2	121
Tax rate	19%	23%	-9%	21%	21%	58%	n/a	20%	0%	20%	22%	23%	23%	26%	22%	28%	n/a	n/a	28%	26%
Net income	8.2	14.2	30.3	63.1	16.3	1.6	-12.8	37.8	22.6	17.7	36.0	47.5	38.3	13.9	48.2	41.2	-49.1	-38.8	51.1	90.0
Net margin	1%	2%	5%	11%	3%	0%	-2%	5%	3%	3%	6%	7%	6%	2%	7%	6%	-6%	-3%	3%	6%
Diluted EPS	$0.20	$0.33	$0.72	$1.51	$0.39	$0.04	-$0.30	$0.80	$0.48	$0.37	$0.75	$0.98	$0.79	$0.29	$1.02	$0.88	-$0.94	-$0.55	$0.70	$1.23
Operating cash flow	43.1	-39.0	13.8	59.1	47.3	17.3	22.5	123	105	-4.3	51.3	128	51.2	12.6	31.1	155	77.4	-172	140	195
Capital expenditure	18.8	18.2	15.0	15.5	19.7	20.0	21.1	21.6	16.4	11.2	17.5	14.5	9.7	16.3	15.0	19.6	16.9	35.7	n/a	n/a
Free cash flow	24.3	-57.2	-1.2	43.6	27.6	-2.7	1.4	101	88.6	-15.5	33.8	114	41.5	-3.7	16.1	136	60.5	-208	n/a	n/a
Buybacks	40.7	25.2	40.0	0.0	0.0	0.0	0.0	0.0	0.3	2.6	10.8	11.4	41.0	40.4	39.4	3.8	0.0	0.0	0.0	5.6
Dividends paid	13.3	13.4	13.3	13.2	13.3	13.7	14.9	14.9	15.0	16.6	15.5	15.8	15.7	16.2	15.7	15.6	15.6	26.6	25.5	25.5
Shares outstanding	43m	42m	41m	41m	41m	42m	47m	47m	47m	47m	47m	48m	47m	72m	46m	46m	71m	72m	72m	72m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 3 October 2026, filed 3 November 2026: the filing.