Filing Flows › HNI (HNI) › Q3 2025
HNI (HNI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
HNI (HNI) reported revenue of $684M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +3% from the quarter before. Operating margin was 9.4%, net earnings $41.2M (6.0% of revenue).
HNI, Q3 2025: revenue $684M (+2% year over year), operating margin 9.4%, net earnings $41.2M, operating cash flow $155M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $684M | +3% | +2% |
| Gross profit | $288M | +0.7% | +3% |
| Operating profit | $64.6M | -5% | -6% |
| Net earnings | $41.2M | -15% | -13% |
| Operating cash flow | $155M | +399% | +21% |
| Free cash flow | $136M | +742% | +19% |
What changed
Revenue was $683.8M in Q3 2025, up 2% year over year and up 3% from the previous quarter. Workplace furnishings was the largest line at 76% of revenue. Workplace furnishings added $11.8M year over year (up 2%), 102% of the total change.
Gross margin was 42.1%, up 0.7 points from a year earlier. Operating profit was $64.6M, a 9.4% margin (down 0.8 points year over year). Operating profit fell $4.3M even though revenue rose $11.6M versus a year earlier, so costs grew faster than sales. Operating expenses grew 6% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+507%). Net earnings were $41.2M, down 13% year over year. The effective tax rate was 28.2%.
Operating cash flow was $155.2M (up 21% year over year), 377% of net earnings. Non-cash charges added back $24.9M of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items added $85.9M. Capital expenditures of $19.6M left free cash flow of $135.6M.
Questions
What was HNI's revenue in the third quarter 2025?
HNI (HNI) reported revenue of $684M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +3% from the quarter before.
Was HNI profitable in the third quarter 2025?
Operating profit was $64.6M (9.4% of revenue) and net earnings $41.2M.
Source: HNI 10-Q on SEC EDGAR.