HNI Corporation Plans to Close Wayland Facility in 2027
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2026
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Should l Buy HNI?
HNI Corporation announced it will exit its Wayland, New York, manufacturing facility in 2027. The Corporation intends to consolidate production into its other North American facilities over the coming year. HNI expects the consolidation to improve productivity and strengthen operations while meeting capacity requirements and creating enhanced experiences for its customers and trade partners. All products currently produced at the Wayland facility will shift to existing facilities across the HNI manufacturing network, with no anticipated changes in the product portfolio. The Gunlocke brand and its products will continue to be an important part of the HNI portfolio, the company said. "Closing the facility is a difficult decision given the hard work and expertise of the Wayland team. We are grateful for our Wayland members' dedication and craftsmanship, and we are committed to providing support and resources throughout the transition. This is a strategic change that aligns with our continued network optimization journey. We are announcing the consolidation a year in advance as part of our commitment to ensuring a smooth transition for our members and our customers," said Brandon Bullock, HNI's COO. HNI estimates the consolidation will save approximately $7.5M-$8M annually once fully mature. The consolidation of Wayland production into HNI's manufacturing centers of excellence was partially enabled by the strategic integration of Kimball International. Total cost synergies associated with the integration of KII are now anticipated to total $68M by end of 2028, including ongoing initiatives in procurement and the maturation of previously announced network optimization projects. HNI anticipates charges resulting from the consolidation will impact pre-tax earnings by an estimated $14.9M in 2026 and 2027, including $5.7M of non-cash charges. The decision will result in employment terminations of approximately 135 members in Wayland.
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Analyst Views on HNI
Wall Street analysts forecast HNI stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 32.810
Low
60.00
Averages
60.00
High
60.00
Current: 32.810
Low
60.00
Averages
60.00
High
60.00
About HNI
HNI Corporation is a manufacturer of workplace furnishings and residential building products. Its Workplace Furnishings segment is a designer and provider of commercial furnishings. Workplace furnishings include furniture systems, seating, storage, tables, architectural products, ancillary products, and hospitality products. Its Residential Building Products segment is a manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. These products are sold through a national system of independent dealers and distributors, as well as corporation-owned installed distribution and retail outlets. Its brands include HON, Allsteel, Beyond, D’style, Gunlocke, Kimball, HBF, HBF Textiles, Interwoven, David Edward, Steelcase, Orangebox and others. It exports select products through its export subsidiary to North America, principally the Caribbean, Latin America, and Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Significance of Steelcase Acquisition: The completion of the Steelcase acquisition at year-end is expected to yield $120 million in synergies, further transforming HNI's position in the workplace furnishings industry and enhancing its competitive edge.
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- Sales Growth: Despite the losses, HNI's net sales surged by 38.3% year-over-year to $888.4 million from $642.5 million, reflecting strong market demand and operational resilience.
- Future Outlook: HNI anticipates net sales to increase by over 130% year-over-year in Q1, including Steelcase revenue, although adjusted EPS is expected to decrease slightly, indicating profitability pressures amid expansion efforts.
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