HNI Raises Steelcase Synergy Target, Updates 2026 Outlook
HNI raised its mature annual Steelcase integration synergy target to at least $130 million from $120 million. It forecast 2026 non-GAAP EPS growth of 20%–25% and low-single-digit organic sales growth; Q4 EPS is expected to rise about 25% year over year.
HNI Corporation announced an increase in its mature annual Steelcase integration synergy target to at least $130 million, up from the previous $120 million, citing progress ahead of schedule. The company also issued updated financial guidance, forecasting 2026 non-GAAP EPS growth of 20%—25% and low-single-digit organic sales growth across both its Workplace Furnishings and Residential Building Products segments. Additionally, HNI expects Q4 EPS to increase by approximately 25% year over year. The company reported that Q3 orders rose 6% in Workplace Furnishings and 4% in Residential Building Products.
Looking ahead, HNI plans to implement cost controls and optimize legacy manufacturing operations through 2028 to navigate market uncertainties and softer housing conditions.