Ennis, Inc. has recently released its 10-Q report, revealing key insights into its financial performance. The company, which was incorporated in 1909 and is headquartered in Midlothian, Texas, operates 57 manufacturing plants in 20 strategically located states, primarily distributing business products and forms through independent distributors. Ennis, Inc. is known for manufacturing and selling a wide range of business products, including snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure-sensitive products under various brand names.
In its "Management’s Discussion and Analysis of Financial Condition and Results of Operations," Ennis, Inc. highlighted several business challenges, including the transformation of its product portfolio and the impact of technology advances on the demand for traditional business documents. The company also emphasized the challenges of production capacity and price competition within the industry, as well as the continued consolidation of its customers.
In terms of financial performance, for the three months ended November 30, 2024, Ennis, Inc. reported net sales of $91.1 million, compared to $97.1 million for the same period in 2023. The company's gross profit margin decreased slightly from 28.9% in 2023 to 28.6% in 2024. Additionally, Ennis, Inc. reported net earnings of $5.3 million for the three months ended November 30, 2024, compared to $6.3 million for the same period in 2023.
For the nine months ended November 30, 2024, the company reported net sales of $276.6 million, compared to $293.8 million for the same period in 2023. The gross profit margin also saw a slight decrease from 29.7% in 2023 to 29.3% in 2024. Ennis, Inc. reported net earnings of $15.6 million for the nine months ended November 30, 2024, compared to $18.9 million for the same period in 2023.
These figures provide a snapshot of Ennis, Inc.'s financial performance and the challenges it faces in a competitive and evolving industry landscape. The market has reacted to these announcements by moving the company's shares 0.0% to a price of $20.9. For more information, read the company's full 10-Q submission here.
