Ennis, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Ennis, Inc. has filed its Q3 FY2024 10-Q report, detailing financial performance and operations.</b>

AI Summary

ENNIS, INC. (EBF) filed a Quarterly Report (10-Q) with the SEC on January 5, 2024. Ennis, Inc. filed a 10-Q report for the period ending November 30, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on February 28th. Ennis, Inc. is classified under Standard Industrial Classification 2761 (Manifold Business Forms). The company's principal business address is in Midlothian, Texas.

Why It Matters

For investors and stakeholders tracking ENNIS, INC., this filing contains several important signals. This filing provides investors and analysts with the latest financial data and operational updates for Ennis, Inc., crucial for evaluating the company's performance and future prospects. Understanding the details within this 10-Q is essential for assessing the company's financial health, strategic direction, and potential risks in the manifold business forms industry.

Risk Assessment

Risk Level: low — ENNIS, INC. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or material adverse events.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue trends and profitability drivers for Ennis, Inc.

Key Numbers

• 20231130 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240105 — Filing Date (FILED AS OF DATE)
• 0228 — Fiscal Year End (FISCAL YEAR END)
• 2761 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• ENNIS, INC. (company) — FILER
• 20231130 (date) — CONFORMED PERIOD OF REPORT
• 20240105 (date) — FILED AS OF DATE
• MIDLOTHIAN (location) — CITY
• TX (location) — STATE
• 76065 (postal_code) — ZIP
• 2761 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• ENIS BUSINESS FORMS INC (company) — FORMER COMPANY

Forward-Looking Statements

• Ennis, Inc. will continue to focus on cost management to maintain profitability despite potential ongoing sales volume challenges. (Ennis, Inc.) — medium confidence, target: 2024-02-28

FAQ

Industry Context

Ennis, Inc. operates in the manifold business forms industry, a segment of the broader printing and business products sector.

Regulatory Implications

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, specifically Form 10-Q for quarterly financial disclosures.

What Investors Should Do

1. Analyze the revenue and cost of goods sold figures for the reported period.
2. Examine any disclosed segment information to understand performance across different business units.
3. Review the balance sheet and cash flow statement for insights into the company's financial position and liquidity.

Key Dates

• 2024-01-05: Filing Date — Submission of the 10-Q report for the period ending November 30, 2023.
• 2023-11-30: Reporting Period End — Marks the end of the fiscal quarter for which financial results are reported.
• 1992-07-03: Name Change — Date Ennis Business Forms Inc. changed its name to Ennis, Inc.
• 1970-08-05: Name Change — Date Ennis Tag & Salesbook Co. changed its name.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending November 30, 2023. Comparative data from previous filings will be available upon analysis of prior reports.

Key Financial Figures

• $2.50 — ch registered Common Stock, par value $2.50 per share EBF New York Stock Exchan

Filing Documents

• ebf-20231130.htm (10-Q) — 1736KB
• ebf-ex31_1.htm (EX-31.1) — 12KB
• ebf-ex31_2.htm (EX-31.2) — 12KB
• ebf-ex32_1.htm (EX-32.1) — 8KB
• ebf-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-002337.txt (&nbsp;) — 7764KB
• ebf-20231130.xsd (EX-101.SCH) — 51KB
• ebf-20231130_def.xml (EX-101.DEF) — 148KB
• ebf-20231130_cal.xml (EX-101.CAL) — 62KB
• ebf-20231130_lab.xml (EX-101.LAB) — 438KB
• ebf-20231130_pre.xml (EX-101.PRE) — 339KB
• ebf-20231130_htm.xml (XML) — 1494KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets at November 30, 2023 and February 28, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended November 30, 2023 and November 30, 2022 5 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended November 30, 2023 and November 30, 2022 6 Condensed Consolidated Statements of Changes in Shareholders&#x2019; Equity for the three and nine ended November 30, 2023 and November 30, 2022 7 Condensed Consolidated Statements of Cash Flows for the nine months ended November 30, 2023 and November 30, 2022 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9

Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

: OTHER INFORMATION

PART II: OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 31

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANC IAL STATEMENTS

Item 1. FINANC IAL STATEMENTS ENNIS, INC. AND SUBSIDIARIES C O NDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands ) November 30, February 28, 2023 2023 Assets Current assets Cash $ 83,902 $ 93,968 Short-term investments 18,495 - Accounts receivable, net 48,140 53,507 Inventories, net 42,325 46,834 Prepaid expenses 2,818 2,317 Prepaid income taxes 3,640 - Total current assets 199,320 196,626 Property, plant and equipment Plant, machinery and equipment 159,092 153,074 Land and buildings 66,980 59,163 Computer equipment and software 10,691 18,832 Other 4,124 4,292 Total property, plant and equipment 240,887 235,361 Less accumulated depreciation 184,923 187,572 Property, plant and equipment, net 55,964 47,789 Operating lease right-of-use assets, net 11,188 13,133 Goodwill 92,391 91,819 Intangible assets, net 42,075 44,088 Other assets 272 380 Total assets $ 401,210 $ 393,835 See accompanying notes to condensed consolidated financial statements. 3 ENNIS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS-Continued (unaudited, in thousands, except for par value and share amounts ) November 30, February 28, 2023 2023 Liabilities and Shareholders&#x2019; Equity Current liabilities Accounts payable $ 10,860 $ 18,333 Accrued expenses 18,617 18,067 Current portion of operating lease liabilities 4,811 4,847 Total current liabilities 34,288 41,247 Liability for pension benefits 646 646 Deferred income taxes 11,458 11,098 Operating lease liabilities, net of current portion 6,140 8,162 Other liabilities 1,051 1,250 Total liabilities 53,583 62,403 Shareholders&#x2019; equity Common stock $ 2.50 par value, authorized 40,000,000 shares; issued 30,053,443 shares at November 30, 2023 and February 28, 2023 75,134 75,134 Additional paid-in c

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View this 10-Q filing on SEC EDGAR