As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the office & commercial furniture industry, including HNI (NYSE:HNI) and its peers.

The sector faces a tepid outlook as workplace dynamics continue to evolve. Hybrid work means that enterprise demand for office furniture is lower. Consumer demand for the same products likely will not offset the loss from enterprises, as individual workers tend to have less space and need for the sector's wares. The Trump administration also possesses a high willingness to impose tariffs on key partners, which could result in retaliatory actions, all of which could pressure those selling furniture that may feature components or labor from overseas. Lastly, the COVID-19 pandemic showed that there is always a risk that something disrupts supply chains, and companies need contingency plans for this.

The 4 office & commercial furniture stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 0.6% while next quarter’s revenue guidance was 3.3% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 13.5% since the latest earnings results.

HNI (NYSE:HNI)

With roots dating back to 1944 and a significant acquisition of Kimball International in 2023, HNI (NYSE:HNI) manufactures and sells office furniture systems, seating, and storage solutions, as well as residential fireplaces and heating products.

HNI reported revenues of $642.5 million, down 5.5% year on year. This print fell short of analysts’ expectations by 2.2%, but it was still a satisfactory quarter for the company with a solid beat of analysts’ EPS estimates.

HNI delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. The stock is down 11% since reporting and currently trades at $43.61.

Is now the time to buy HNI? Access our full analysis of the earnings results here, it’s free .

Best Q4: MillerKnoll (NASDAQ:MLKN)

Created through the 2021 merger of industry icons Herman Miller and Knoll, MillerKnoll (NASDAQ:MLKN) designs, manufactures, and distributes interior furnishings for offices, healthcare facilities, educational settings, and homes worldwide.

MillerKnoll reported revenues of $970.4 million, up 2.2% year on year, outperforming analysts’ expectations by 1.1%. The business had a strong quarter with a decent beat of analysts’ EPS estimates.

MillerKnoll delivered the biggest analyst estimates beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 22.6% since reporting. It currently trades at $18.82.