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Feb 29, 2024
Ennis Q4 2024 Earnings Report
Ennis, Inc. reported its financial results for the fourth quarter and fiscal year ended February 29, 2024, with revenues decreasing and net earnings declining compared to the prior year.
Key Takeaways
Ennis, Inc. reported a decrease in revenues for the fourth quarter of fiscal year 2024, totaling $97.4 million, down 5.2% from the previous year's fourth quarter. Net earnings also declined to $10.1 million, or $0.39 per diluted share, compared to $12.2 million, or $0.47 per diluted share in the same period last year. Despite the revenue and earnings decrease, the gross profit margin for the quarter increased to 28.4% from 27.6% in the prior year.
Revenues for the fourth quarter decreased by $5.3 million, or 5.2%, to $97.4 million compared to the same quarter last year.
Net earnings for the quarter were $10.1 million, or $0.39 per diluted share, down from $12.2 million, or $0.47 per diluted share, in the prior year's fourth quarter.
Gross profit margin for the quarter improved to 28.4% from 27.6% in the same quarter last year.
The company maintained a strong financial position with $110.9 million in cash and short-term investments and no debt.
Forward Guidance
The company anticipates continued strong financial performance and strategic acquisitions without incurring debt, leveraging its robust financial position and timely access to credit for larger opportunities. It remains committed to returning value to shareholders through profitability and quarterly dividends.
Positive Outlook
- Maintaining a strong financial position with significant cash and short-term investments and no debt.
- Ability to continue operations and pursue acquisitions without incurring debt.
- Anticipated timely access to credit for larger acquisition opportunities.
- Focus on returning value to shareholders through profitability.
- Commitment to quarterly dividends.
Challenges Ahead
- The print market overall continues to be fairly soft.
- Competitive pricing is resulting in downward pressure on operating margin.
- ERP system implementations for recent acquisitions are still in early stages, with expected margin improvements yet to be fully realized.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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