# Ennis, Inc. (EBF) Q2 2025 Financial Results Summary
Midlothian, TX. September 22, 2025 — Ennis, Inc. (NYSE: EBF) announced their financial results for the quarter ended August 31, 2025. Below are the key highlights from the report.
## Financial Performance Highlights
– **Revenues**
– Total revenues: **$98.7 million**
– Comparison to Q2 2024: **$99.0 million**
– Change: Decrease of **$0.3 million** or **-0.3%** year-over-year.
– **Gross Profit**
– Gross profit for Q2 2025: **$30.1 million**
– Gross profit margin: **30.5%**
– Comparison to Q2 2024 gross profit: **$29.8 million** with a margin of **30.1%**
– Change in gross profit: Increased by **$0.3 million** or **1.0%** year-over-year.
– Change in gross profit margin: Increased by **0.4 percentage points** from last year.
– **Net Earnings**
– Net earnings for Q2 2025: **$13.2 million**
– Earnings per diluted share: **$0.51**
– Comparison to Q2 2024 net earnings: **$10.3 million**
– Change: Increase of **$2.9 million** or **28.2%** year-over-year.
– Change in earnings per diluted share: Increased by **$0.11** or **27.5%**.
– **EBITDA**
– EBITDA: **$22.5 million** (22.8% of sales)
– Comparison to Q2 2024: **$18.4 million** (18.6% of sales)
– Change: Increased by **$4.1 million** or **22.3%** year-over-year.
## Performance Overview for Six Months (Ending August 31, 2025)
– **Revenues**
– Total revenues for the six-month period: **$195.9 million**
– Comparison to the same period last year: **$202.1 million**
– Change: Decrease of **$6.2 million** or **-3.1%**.
– **Gross Profit Margin**
– Six-month gross profit margin: **30.8%**
– Comparison to last year’s margin: **30.0%**
– Change: Increase of **0.8 percentage points**.
– **Net Earnings**
– Net earnings for the six-month period: **$23.0 million**
– Earnings per diluted share: **$0.89**
– Comparison to the same period last year: **$21.0 million**
– Change: Increase of **$2.0 million** or **9.5%**.
– Change in earnings per diluted share: Increased by **$0.09** or **11.3%**.
## Shareholder Actions
– **Quarterly Dividend Declaration**
– The Board of Directors declared a quarterly cash dividend of **$0.25 per share** on September 19, 2025.
– The dividend is payable on **November 7, 2025** to shareholders of record on **October 10, 2025**.
– **Share Repurchase**
– Year-to-date, the company has repurchased **456,671 shares** of common stock for **$8.5 million**.
## Financial Position
– **Balance Sheet**
– Current assets: **$138.9 million**
– Total assets: **$361.8 million**
– **Liabilities and Shareholders’ Equity**
– Total liabilities: **$56.5 million**
– Shareholders’ equity: **$305.4 million**
– **Cash Flow**
– Cash provided by operating activities: **$18.4 million**
– Cash used in investing activities: **$(31.95) million**
– Cash used in financing activities: **$(21.58) million**
– Ending cash balance: **$31.9 million**
## Management Commentary
– CEO Keith Walters highlighted a gross margin improvement to **30.5%**, a significant increase compared to last year, despite a decrease in sales volume.
– The quarter benefitted from a collection of **$5.7 million** related to a court judgment.
– Recent acquisitions contributed approximately **$5.5 million** in revenues for the quarter.
## Conclusion
Overall, Ennis, Inc. has demonstrated resilience in profitability, even with a slight decrease in revenues compared to the previous year. The declared dividend reflects the company’s ongoing commitment to return value to its shareholders, underscoring a strong financial position amidst a shifting operational landscape.
| Earnings before income taxes | Three months ended | Six months ended | ||
|---|---|---|---|---|
| August 31, 2025 | August 31, 2024 | August 31, 2025 | August 31, 2024 | |
| Net sales | $98,676 | $99,038 | $195,872 | $202,146 |
| Cost of goods sold | $68,574 | $69,259 | $135,541 | $141,463 |
| Gross profit | $30,102 | $29,779 | $60,331 | $60,683 |
| Selling, general and administrative | $17,719 | $16,557 | $34,665 | $33,727 |
| Loss from disposal of assets | $— | $39 | $— | $43 |
| Income from operations | $(5,761) | $(1,034) | $(5,993) | $(2,045) |
| Other income | $18,144 | $14,217 | $31,659 | $28,958 |
| Net earnings | $13,155 | $10,308 | $22,953 | $20,995 |
| Basic Earnings per share | $0.51 | $0.40 | $0.89 | $0.81 |
| Diluted Earnings per share | $0.51 | $0.40 | $0.89 | $0.80 |
| August 31, 2025 | February 28, 2025 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash | $31,886 | $67,000 |
| Short-term investments | $— | $5,475 |
| Accounts receivable, net | $42,157 | $38,753 |
| Inventories, net | $62,078 | $38,797 |
| Prepaid expenses | $2,793 | $2,715 |
| Total Current Assets | $138,914 | $152,740 |
| Property, plant & equipment, net | $57,964 | $52,586 |
| Operating lease right-of-use assets, net | $11,278 | $9,833 |
| Goodwill and intangible assets, net | $147,551 | $127,619 |
| Other assets | $6,126 | $6,157 |
| Total Assets | $361,833 | $348,935 |
| Liabilities and Shareholders’ Equity | ||
| Current liabilities | ||
| Accounts payable | $19,641 | $13,799 |
| Accrued expenses | $17,262 | $15,339 |
| Current portion of operating lease | $4,251 | $4,166 |
| Total Current Liabilities | $41,154 | $33,304 |
| Other non-current liabilities | $15,299 | $13,651 |
| Total liabilities | $56,453 | $46,955 |
| Shareholders’ equity | $305,380 | $301,980 |
| Total Liabilities and Shareholders’ Equity | $361,833 | $348,935 |
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