Welcome to our dedicated page for Ennis news (Ticker: EBF), a resource for investors and traders seeking the latest updates and insights on Ennis stock.
Overview of Ennis Inc.
Ennis Inc. (NYSE: EBF) is a leading manufacturer and supplier of printed business products in North America. The company specializes in designing, producing, and distributing a diverse range of business forms and printed materials, catering to a broad spectrum of industries. Ennis operates predominantly within the B2B market, selling its products through independent dealers, including business forms distributors, stationers, printers, computer software developers, and advertising agencies. This model positions Ennis as a critical link in the supply chain for businesses that require high-quality printed materials for operational, promotional, or security purposes.
Comprehensive Product Portfolio
Ennis offers an extensive array of printed products, designed to meet the needs of its diverse client base. Its product portfolio includes:
- Business Forms: Snap sets, continuous forms, laser cut sheets, and integrated products.
- Labels and Tags: Pressure-sensitive labels, jumbo rolls, and custom tags.
- Envelopes: Standard and custom-designed envelopes for various applications.
- Promotional Products: Advertising specialties and point-of-purchase materials for franchises and fast-food chains.
- Financial and Security Documents: High-value printed materials designed for secure transactions and record-keeping.
- Folders and Packaging: Presentation folders and custom packaging solutions.
Many of these products are available in short, medium, and long production runs, allowing Ennis to cater to businesses of varying sizes and operational needs. Additionally, the company operates under several proprietary brands, including Ennis, Royal Business Forms, Block Graphics, and 360º Custom LabelsSM, among others.
Value-Added Services
Beyond its core product offerings, Ennis provides a range of value-added services to enhance customer satisfaction and operational efficiency. These services include warehousing, kitting, and fulfillment, which enable clients to streamline their supply chain processes. By offering these supplementary solutions, Ennis strengthens its position as a full-service provider within the printing industry.
Market Position and Competitive Landscape
Ennis operates in a mature and highly competitive market, where digital alternatives to traditional printed materials pose ongoing challenges. However, the company has carved out a niche by focusing on specialized products such as financial and security documents, as well as point-of-purchase advertising solutions. Its decentralized operational structure, with over 50 manufacturing and distribution facilities, allows Ennis to serve a geographically diverse customer base efficiently. This operational flexibility, combined with its extensive product portfolio, helps the company maintain a competitive edge.
Distribution Model
Ennis employs a wholesale distribution model, selling its products exclusively through independent dealers. This approach enables the company to focus on manufacturing and innovation while leveraging the expertise of its dealer network to reach end customers. The dealer network includes business forms distributors, stationers, printers, and advertising agencies, ensuring that Ennis's products are accessible to a wide range of industries and businesses.
Significance in the Printing Industry
As one of the largest providers of printed business products in North America, Ennis plays a vital role in supporting businesses across various sectors. Its expertise in printing, combined with its commitment to quality and customer service, has established the company as a trusted partner for businesses seeking reliable and customizable printed solutions. By continuously adapting to market demands and leveraging its extensive operational footprint, Ennis remains a key player in the printing industry.
Ennis, Inc. (NYSE: EBF) reported a strong fiscal performance for the year ending February 28, 2023. Revenues reached $431.8 million, up 8.0% year-over-year, with quarterly revenues of $102.7 million, marking a 3.0% increase from the previous year. Net earnings for the quarter stood at $12.2 million or $0.47 per diluted share, significantly increasing from $6.7 million or $0.26 the prior year, aided by a $5.8 million gain from an asset sale. The company's gross profit margin improved to 30.3% for the fiscal year, reflecting better pricing strategies despite increased costs. EBITDA for the fiscal year also rose to $82.3 million, representing 19.1% of sales. Ennis expects to leverage its strong balance sheet for future growth opportunities, with plans for potential acquisitions.
On April 12, 2023, a Nebraska jury ruled against Wright Printing Company and its executives, awarding $5 million for damages to Crabar/GBF, Inc., a subsidiary of Ennis (NYSE: EBF). The jury found that the defendants misappropriated trade secrets related to customer data and folder specifications to launch competing products. The verdict included over $3.75 million in actual damages and $1.25 million in punitive damages. The ruling underscores Ennis' commitment to protecting its intellectual property and shareholders' investments. CEO Keith Walters expressed satisfaction with the outcome, asserting it affirms the company's property rights and seeks to recapture losses incurred due to the defendants' actions.
Ennis, Inc. (NYSE: EBF) announced a quarterly cash dividend of $0.25 per share on its common stock, payable on May 8, 2023, to shareholders of record as of April 17, 2023. As a leading manufacturer of business forms since 1909, the company operates from its headquarters in
Ennis, Inc. (NYSE: EBF) reported third-quarter revenues of $110.2 million, a 7.1% increase from $103.0 million year-over-year. Earnings per diluted share rose by 50.2% to $0.44, up from $0.29. The gross profit margin improved to 30.4% compared to 28.4% last year. Year-to-date, revenues reached $329.1 million, up 9.6% from $300.3 million. A quarterly cash dividend of 25 cents per share was declared, payable on February 2, 2023.
Ennis, Inc. (NYSE:EBF) has announced its acquisition of School Photo Marketing, a provider of printing and marketing services to over 1,400 school and sports photographers based in Morganville, New Jersey. This acquisition is expected to enhance Ennis' service capabilities within the educational photography sector. The integration will allow School Photo Marketing to continue operating under its name while leveraging Ennis' manufacturing resources. This strategic move aligns with Ennis' wholesale manufacturing-distribution model, potentially expanding their market reach.
Ennis, Inc. (NYSE: EBF) announced the appointment of Mr. Wade Brewer as Chief Operating Officer and Mr. Terry Pennington as Chief Revenue Officer. Mr. Brewer, with 38 years in the print industry, previously served as Director of Manufacturing, overseeing over 50 production facilities. Mr. Pennington, with 26 years of experience, has been pivotal in expanding the company's product offerings since joining in 2006. Chairman Keith Walters expressed confidence in their leadership, citing their extensive experience and value to the company.
Ennis reported Q2 2022 revenues of $111.2 million, up 10.6% from the previous year, with net earnings increasing 62% to $12.2 million or $0.47 per diluted share. The gross profit margin improved to 31.7% from 28.8% year-over-year. For the six-month period, revenues reached $218.9 million, and net earnings were $23.8 million. The Board declared a quarterly cash dividend of 25 cents per share, payable on November 4, 2022. CEO Keith Walters praised strong customer demand and the company’s strong financial position with no debt.
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