HNI Corporation (NYSE:HNI) Q4 2022 Earnings Conference Call February 23, 2023 11:00 AM ET
Company Participants
Matt McCall - VP, IR & Corporate Development
Jeff Lorenger - Chairman, President & CEO
Marshall Bridges - SVP & CFO
Conference Call Participants
Rex Henderson - Water Tower Research
Budd Bugatch - Water Tower Research
Reuben Garner - The Benchmark Company
Steven Ramsey - Thompson Research Group
Greg Burns - Sidoti
Operator
Good morning. My name is Audra, and I will be your conference operator today. At this time, I would like to welcome everyone to the HNI Corporation Fourth Quarter Fiscal 2022 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].
Mr. McCall, you may begin your conference.
Matt McCall
Good morning. My name is Matt McCall. I'm Vice President, Investor Relations and Corporate Development for HNI Corporation. Thank you for joining us to discuss our fourth quarter fiscal 2022 results. With me today are Jeff Lorenger, Chairman, President and CEO; and Marshall Bridges, Senior Vice President and CFO.
Copies of our financial news release and non-GAAP reconciliations are posted on our website.
Statements made during this call that are not strictly historical facts are forward-looking statements, which are subject to known and unknown risks. Actual results could differ materially. Financial news release posted on our website includes additional factors that could affect actual results. The corporation assumes no obligation to update any forward-looking statements made during the call.
I'm now pleased to turn the call over to Jeff Lorenger. Jeff?
Jeff Lorenger
Thanks, Matt. Good morning and thank you for joining us.
On the call today, I will highlight four key topics. First, we delivered strong earnings growth in the quarter despite a soft macro environment. Second, our workplace furnishings margin expansion initiatives are delivering results. Third, we are prepared for 2023. And fourth, we are positioned for strong growth beyond 2023. Following those comments, Marshall will review our outlook. I will then conclude with some general closing commentary. We will then open the call to your questions.
Moving to the first topic. We delivered strong earnings growth in the quarter, even though we experienced a softer demand environment. We generated solid year-over-year margin expansion and 47% year-over-year non-GAAP earnings growth in the fourth quarter. This was despite volume pressures associated with macroeconomic concerns.