Filing Flows › HNI (HNI) › Q1 2025
HNI (HNI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
HNI (HNI) reported revenue of $600M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -7% from the quarter before. Operating margin was 4.1%, net earnings $13.9M (2.3% of revenue).
HNI, Q1 2025: revenue $600M (+2% year over year), operating margin 4.1%, net earnings $13.9M, operating cash flow $12.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $600M | -7% | +2% |
| Gross profit | $238M | -8% | +2% |
| Operating profit | $24.4M | -55% | -18% |
| Net earnings | $13.9M | -64% | -21% |
| Operating cash flow | $12.6M | -75% | — |
What changed
Revenue was $599.8M in Q1 2025, up 2% year over year and down 7% from the previous quarter. Workplace furnishings was the largest line at 74% of revenue. Residential building products added $10.5M year over year (up 7%), 89% of the total change.
Gross margin was 39.7%, up 0.2 points from a year earlier. Operating profit was $24.4M, a 4.1% margin (down 1.0 points year over year). Operating profit fell $5.3M even though revenue rose $11.8M versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 2%. Net earnings were $13.9M, down 21% year over year. The effective tax rate was 26.5%.
Operating cash flow was $12.6M, 91% of net earnings. Non-cash charges added back $25.5M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items used $33.6M. Capital expenditures of $16.3M exceeded it, leaving free cash flow of −$3.7M.
Questions
What was HNI's revenue in the first quarter 2025?
HNI (HNI) reported revenue of $600M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -7% from the quarter before.
Was HNI profitable in the first quarter 2025?
Operating profit was $24.4M (4.1% of revenue) and net earnings $13.9M.
Source: HNI 10-Q on SEC EDGAR.