Ennis, Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Ennis, Inc. has filed its 2024 10-K report detailing its fiscal year operations and financial standing.</b>

AI Summary

ENNIS, INC. (EBF) filed a Annual Report (10-K) with the SEC on May 10, 2024. Ennis, Inc. filed its 2024 Form 10-K on May 10, 2024, for the fiscal year ending February 29, 2024. The company's SIC code is 2761 for Manifold Business Forms. Ennis, Inc. was formerly known as Ennis Business Forms Inc. and Ennis Tag & Salesbook Co. The filing includes data related to various financial statement line items and equity accounts. Key dates mentioned include fiscal year ends of February 28 and February 29 for different reporting periods.

Why It Matters

For investors and stakeholders tracking ENNIS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ennis, Inc.'s financial performance, operational structure, and risk factors for the fiscal year ending February 29, 2024, crucial for investors assessing the company's health. The report details specific financial metrics and corporate history, offering insights into the company's business segments and strategic initiatives, which are important for understanding its market position and future prospects.

Risk Assessment

Risk Level: low — ENNIS, INC. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational disclosures without immediate significant market-moving information.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Ennis, Inc.'s performance trends and strategic outlook.

Key Numbers

• 20240229 — Fiscal Year End (Conformed Period of Report)
• 20240510 — Filing Date (Filed As Of Date)
• 2761 — SIC Code (Standard Industrial Classification)
• TX — State of Incorporation (State of Incorporation)

Key Players & Entities

• ENNIS, INC. (company) — Filer name
• 2761 (dollar_amount) — Standard Industrial Classification
• TX (company) — State of Incorporation
• 2441 PRESIDENTIAL PARKWAY (company) — Business Address Street 1
• MIDLOTHIAN (company) — Business Address City
• 76065 (company) — Business Address ZIP
• 9727759801 (company) — Business Phone
• ENNIS BUSINESS FORMS INC (company) — Former Company Name

FAQ

Industry Context

Ennis, Inc. operates within the Manifold Business Forms industry, a segment of the broader printing and business services sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the 'Business' section to understand the company's products, services, and market strategy.
3. Examine the 'Risk Factors' section for potential challenges and uncertainties facing the company.

Key Dates

• 2024-02-29: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-05-10: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2024 10-K filing; comparison to prior filings would require access to those documents.

Key Financial Figures

• $2.50 — ch registered Common Stock, par value $2.50 per share EBF New York Stock Exchan
• $2 — he Registrant's Common Stock, par value $2.50, outstan ding at May 9, 2024 was 25,
• $8.7 million — gle and Diamond generated approximately $8.7 million in combined sales. The acquisition of t
• $16.1 million — k, Kansas, which reported approximately $16.1 million in 2022. The addition of UMC added new
• $7.0 million — the acquisition generated approximately $7.0 million in sales for its fiscal year ended Dece
• $10 million — eting, Inc. in, which had approximately $10 million in sales in the twelve-month period pre
• $33.7 m — acklog of firm orders was approximately $33.7 million, compared to approximately $46.7
• $46.7 million — 33.7 million, compared to approximately $46.7 million at February 28, 2023. Research and De

Filing Documents

• ebf-20240229.htm (10-K) — 2537KB
• ebf-ex4_1.htm (EX-4.1) — 11KB
• ebf-ex21.htm (EX-21) — 31KB
• ebf-ex23_1.htm (EX-23.1) — 6KB
• ebf-ex23_2.htm (EX-23.2) — 3KB
• ebf-ex31_1.htm (EX-31.1) — 11KB
• ebf-ex31_2.htm (EX-31.2) — 11KB
• ebf-ex32_1.htm (EX-32.1) — 5KB
• ebf-ex32_2.htm (EX-32.2) — 5KB
• ebf-ex97.htm (EX-97) — 16KB
• img168919656_0.jpg (GRAPHIC) — 13KB
• img190368429_0.jpg (GRAPHIC) — 31KB
• 0000950170-24-057691.txt (&nbsp;) — 11480KB
• ebf-20240229.xsd (EX-101.SCH) — 1448KB
• ebf-20240229_htm.xml (XML) — 2372KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 8 Item 1B Unresolved Staff Comments 13 Item 1C Cybersecurity 13 Item 2

Properties

Properties 13 Item 3

Legal Proceedings

Legal Proceedings 16 Item 4 Mine Safety Disclosures 16 PART II: Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 26 Item 8 Consolidated Financial Statements and Supplementary Data 26 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 26 Item 9A

Controls and Procedures

Controls and Procedures 26 Item 9B Other Information 27 Item 9C Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 27 PART III: Item 10 Directors, Executive Officers and Corporate Governance 28 Item 11

Executive Compensation

Executive Compensation 28 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 28 Item 13 Certain Relationships and Related Transactions, and Director Independence 28 Item 14 Principal Accountant Fees and Services 28 PART IV: Item 15 Exhibits and Financial Statement Schedules 29

Signatures

Signatures 30 Cautionary Statements Regarding Forward-Looking Statements All of the statements in this Annual Report on Form 10-K, other than historical facts, are forward-looking statements, including, without limitation, the statements made in the "Management's Discussion and Analysis of Financial Condition and Results of Operations," particularly under the caption "Overview." As a general matter, forward-looking statements are those focused upon anticipated events or trends, expectations, and beliefs relating to matters that are not historical in nature. The words "could," "should," "feel," "anticipate," "aim," "preliminary," "expect," "believe," "estimate," "intend," "intent," "plan," "will," "foresee," "project," "forecast," or the negative thereof or variations thereon, and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for these forward-looking statements. In order to comply with the terms of the safe harbor, Ennis, Inc. notes that forward-looking statements are subject to known and unknown risks, uncertainties and other factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond the control of Ennis, Inc. These known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those matters expressed in, anticipated by or implied by such forward-looking statements. These statements reflect the current views and assumptions of management with respect to future events. Ennis, Inc. does not undertake, and hereby disclaims, any duty to update these forward-looking statements, even though its situation and circumstances may change in the future. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this report. The inclusion of any statement in this report does not constitute an admission by Ennis

BUSINESS

ITEM 1. BUSINESS Overview Ennis, Inc. (formerly Ennis Business Forms, Inc.) (collectively with its subsidiaries, the " Company ," " Registrant ," " Ennis ," or " we ," " us ," or " our ") was organized under the laws of Texas in 1909. Ennis is primarily a "trade printer" that manufactures a broad range of printed products that are resold throughout the United States through a network of independent distributors This distributor channel encompasses independent print distributors, commercial printers, direct mail, fulfillment companies, payroll and accounts payable software companies, and advertising agencies, among others. We also sell products to many of our competitors to satisfy their customers' needs. Business Overview Our management believes we are the largest provider of business forms, pressure-seal forms, labels, tags, envelopes, and presentation folders to independent distributors in the United States. We are in the business of manufacturing, designing and selling business forms and other printed business products primarily to distributors located in the United States. We operate 59 manufacturing plants throughout the United States in 20 strategically located states as one reportable segment. Approximately 96% of the business products we manufacture are custom and semi-custom products, constructed in a wide variety of sizes, colors, number of parts and quantities on an individual job basis, depending upon the customers' specifications. The products we sell include snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls and pressure sensitive products in short, medium and long runs under the following labels: Ennis, Royal Business Forms, Block Graphics, 360 Custom Labels SM , ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts SM , FormSource Limited SM , Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms

RI SK FACTORS

ITEM 1A. RI SK FACTORS You should carefully consider the risks described below, as well as the other information included or incorporated by reference in this Annual Report on Form 10-K, before making an investment in our common stock. The risks described below are not the only ones we face in our business. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also impair our business operations. If any of the following risks occur, our business, financial condition or operating results could be materially harmed. In such an event, our common stock could decline in price and you may lose all or part of your investment. Risks related to our business and operations Our results and financial condition are affected by global and local market conditions, and competitors' pricing strategies, which can adversely affect our sales, margins, and net income. Our results of operations can be affected by local, nat

View Full Filing

View this 10-K filing on SEC EDGAR