MicroVision MOVIA lidar gains support on NVIDIA DRIVE AGX platform
MUSCATINE, Iowa - HNI Corporation (NYSE:HNI), a $2.3 billion market cap company with a "Good" financial health rating according to InvestingPro, celebrated the ribbon cutting of a new solar installation at its Highway 61 facility in Muscatine, Iowa on Wednesday, marking a step forward in the company’s sustainability efforts.
The installation will generate more than 1,500 MWh of clean energy annually, equivalent to approximately 7% of the facility’s electricity consumption, according to a company press release.
Local officials from Muscatine Power and Water and community partners joined HNI executives at the event to commemorate what the company described as its largest solar project to date.
"This project is a strong step forward in our broader sustainability strategy and reflects our ongoing efforts to advance our sustainability goals, including a focus on renewable energy, energy efficiency, and reducing our carbon footprint," said Jeff Lorenger, Chairman, President, and Chief Executive Officer of HNI Corporation.
The solar array is expected to help reduce greenhouse gas emissions at the manufacturing facility.
HNI Corporation manufactures workplace furnishings and residential building products, including fireplaces, stoves, and accessories. The company has been in operation for more than 75 years.
In other recent news, HNI Corporation has reported strong financial results for the first quarter of 2025, exceeding analyst expectations. The company posted an earnings per share (EPS) of $0.44, surpassing the forecasted $0.35, with revenue reaching $599.8 million against the anticipated $583.47 million. HNI Corporation’s operating margins hit their highest first-quarter level since 2007, reflecting significant improvements in financial performance. Furthermore, Longbow Research has initiated coverage on HNI Corp with a Buy rating and a price target of $70.00, highlighting expectations of unit volume growth and improved incremental margins. In governance updates, HNI shareholders have approved board nominees Jeffrey D. Lorenger, Larry B. Porcellato, and David M. Roberts, and ratified KPMG LLP as the company’s independent auditor. Additionally, HNI Corporation declared a quarterly dividend of 34 cents per share, payable on June 11, 2025. These developments indicate a positive trajectory for HNI Corporation, supported by strategic initiatives and shareholder confidence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.