Ennis, Inc. (EBF): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how a company like Ennis, Inc. (EBF) navigates the modern business landscape, achieving $421.9 million in revenue for the fiscal year ending February 29, 2024? Despite shifts in the print industry, this established provider of diverse print products and business forms reported strong net earnings of $45.1 million during that time, showcasing notable operational strength. What's the story behind this enduring company, and how does its business model actually function to deliver these results? Are you ready to delve into its history, ownership structure, and the core mechanics of how EBF makes money?

Ennis, Inc. (EBF) History

Ennis, Inc.'s Founding Timeline

Year established

Ennis, Inc. began its journey in 1909.

Original location

The company was originally established in Ennis, Texas.

Founding team members

Garner Dunkerley Sr. founded the company, initially known as Ennis Stationery and Printing Company.

Initial capital/funding

Specific details on the initial capitalization in 1909 are not readily available, but it started as a small local operation focused on the needs of the agricultural community.

Ennis, Inc.'s Evolution Milestones

Ennis, Inc.'s Transformative Moments

Shift to Wholesale Focus

A pivotal shift involved concentrating on serving independent print distributors, brokers, and resellers rather than direct end-users. This strategic focus allowed Ennis to leverage a vast sales network without the overhead of a large direct sales force, becoming a key supplier within the industry.

Acquisition-Led Growth Strategy

The company's deliberate and consistent strategy of acquiring smaller, complementary print businesses has been fundamental. These acquisitions, often integrated swiftly, provided immediate access to new markets, technologies, and product categories, fueling decades of expansion and consolidating a fragmented industry landscape. This aligns with the company's broader objectives, which you can explore further in the Mission Statement, Vision, & Core Values of Ennis, Inc. (EBF).

Diversification Beyond Forms

Moving beyond its roots in business forms and tags, Ennis strategically expanded into labels, presentation products, commercial printing, envelopes, and promotional products. This diversification reduced reliance on any single product category, particularly important as demand for traditional business forms evolved, ensuring resilience and relevance in a changing market. This adaptability has been crucial to its long-term success.

Ennis, Inc. (EBF) Ownership Structure

Ennis, Inc. operates as a publicly traded entity, meaning its shares are available for purchase by the general public on a stock exchange. This structure dictates a broad base of ownership, primarily composed of institutional investors alongside individual shareholders.

Ennis, Inc.'s Current Status

As of the end of 2024, Ennis, Inc. remains a public company listed on the New York Stock Exchange (NYSE) under the ticker symbol EBF. Its governance adheres to the regulations set forth by the Securities and Exchange Commission (SEC) for publicly listed corporations.

Ennis, Inc.'s Ownership Breakdown

Understanding who holds the shares provides insight into stakeholder influence and market sentiment. You can delve deeper into this topic by Exploring Ennis, Inc. (EBF) Investor Profile: Who’s Buying and Why? The following table outlines the approximate ownership distribution based on data available towards the end of the 2024 fiscal year:

Ennis, Inc.'s Leadership

The strategic direction and day-to-day operations of Ennis, Inc. are guided by its executive leadership team and overseen by the Board of Directors. As of the close of 2024, key figures leading the company include:

• Keith S. Walters: Chairman, President, and Chief Executive Officer
• Vera Burnett: Principal Financial Officer, Treasurer & Secretary

This team is responsible for executing the company's strategy and managing its financial and operational performance, reporting ultimately to the board and shareholders.

Ennis, Inc. (EBF) Mission and Values

Ennis, Inc. operates with a clear focus on its role within the print industry, guided by principles centered on manufacturing excellence and customer relationships. These underlying tenets shape its operational strategies and long-term objectives beyond just financial returns.

Ennis, Inc.'s Core Purpose

Official mission statement

While not formally articulated as a single mission statement, Ennis, Inc.'s core purpose revolves around being a leading manufacturer and supplier of essential printed business products and apparel. Their operational focus emphasizes providing high-quality goods, reliable service, and fostering strong partnerships with distributors.

Vision statement

The company's vision appears centered on maintaining and expanding its market leadership within the North American print and apparel sectors. This involves strategic growth, often through acquisitions, enhancing operational efficiencies across its diverse facilities, and consistently delivering value to its shareholders. Understanding their financial trajectory offers deeper insight, as discussed in Breaking Down Ennis, Inc. (EBF) Financial Health: Key Insights for Investors.

Company slogan

Ennis, Inc. doesn't heavily promote a single, universal corporate slogan. However, themes emphasizing partnership, such as being reliable 'Partners in Print,' often reflect their business approach and relationship focus with their extensive network of independent distributors.

Ennis, Inc. (EBF) How It Works

Ennis operates primarily as a wholesale manufacturer, producing a diverse range of print products and apparel which are then sold through an extensive network of independent distributors, resellers, and franchise printers across North America. The company functions by leveraging its considerable manufacturing footprint and economies of scale to fulfill orders efficiently, acting as a behind-the-scenes supplier for thousands of smaller businesses.

Ennis, Inc.'s Product/Service Portfolio

Ennis, Inc.'s Operational Framework

The operational core of Ennis revolves around its extensive manufacturing and distribution network. As of early 2024, the company operated approximately 56 manufacturing facilities located across 21 states, allowing for regional production efficiencies and reduced shipping times. Ennis primarily follows a wholesale model, meaning it does not sell directly to end-users but rather equips its distributor partners with the products they need to serve their own customers. This decentralized production model is coupled with centralized corporate functions like finance and IT. Acquisitions are a key part of the operational strategy, integrating smaller print and apparel companies to expand product lines and geographic reach, aiming to maintain operational synergies and cost controls which contributed to a gross profit margin of around 31.1% in fiscal year 2024.

Ennis, Inc.'s Strategic Advantages

Ennis possesses several key advantages that underpin its market position.

• Its sheer scale and broad manufacturing footprint provide significant economies of scale in purchasing and production, difficult for smaller competitors to replicate.
• The company offers one of the most diverse product portfolios in the industry, making it a convenient one-stop shop for its distributor base.
• Long-standing relationships with a vast network of independent distributors create a loyal and extensive sales channel. You can learn more about the company's guiding principles here: Mission Statement, Vision, & Core Values of Ennis, Inc. (EBF).
• A proven ability to acquire and integrate smaller companies successfully allows Ennis to consistently expand its offerings and market presence.
• Operational efficiency, honed over decades, allows for competitive pricing while maintaining solid profitability, as seen in its fiscal 2024 performance where net sales reached approximately $1.04 billion.

Ennis, Inc. (EBF) How It Makes Money

Ennis, Inc. primarily generates revenue through the manufacturing and sale of a wide range of print products and apparel items. These goods are distributed through a network of independent dealers, resellers, and distributors across the United States.

Ennis, Inc.'s Revenue Breakdown

The company operates predominantly within a single reporting segment, encompassing its diverse product offerings.

Ennis, Inc.'s Business Economics

The company's economic engine relies on leveraging economies of scale in manufacturing across its numerous facilities. Key cost drivers include raw materials like paper, ink, and apparel blanks, alongside labor and energy costs. Pricing strategies are typically competitive within the print industry, often balancing volume orders with custom job requirements. Ennis pursues a strategy of growth through acquisition, integrating smaller printing and apparel companies to expand its geographic reach and product capabilities. This approach helps maintain margins despite competitive pressures. Understanding the company's core values provides context for its operational strategies, detailed further in the Mission Statement, Vision, & Core Values of Ennis, Inc. (EBF).

• Gross profit margin is a critical indicator, reflecting manufacturing efficiency and pricing power.
• Selling, General, and Administrative (SG&A) expenses are managed carefully, particularly post-acquisition integration costs.
• Capital expenditures are focused on maintaining and upgrading production equipment.

Ennis, Inc.'s Financial Performance

Examining key financial metrics provides insight into the company's operational health and profitability as of the fiscal year ending February 29, 2024. Total revenues reached $411.3 million for fiscal year 2024. Gross profit stood at $126.0 million, representing a gross profit margin of 30.6%. This margin reflects the company's ability to manage production costs effectively. Operating income for the period was reported at $56.5 million. Net earnings available to shareholders amounted to $41.3 million for the fiscal year 2024, indicating solid bottom-line performance despite a slight decrease in overall revenue compared to the previous fiscal year.

Ennis, Inc. (EBF) Market Position & Future Outlook

Ennis maintains a solid position as a leading wholesale manufacturer of print products, leveraging its extensive independent distributor network despite facing modest headwinds reflected in recent performance. The company's future outlook hinges on navigating digital shifts while capitalizing on consolidation opportunities within the fragmented print industry.

Competitive Landscape

The print manufacturing sector remains highly competitive, with numerous players ranging from large, diversified corporations to smaller, specialized firms. EBF differentiates itself through its focus on the wholesale channel and operational efficiency.

Opportunities & Challenges

Navigating the evolving print market requires balancing traditional strengths with forward-looking strategies.

Industry Position

Ennis holds a significant position within the North American wholesale print manufacturing industry, serving a vast network of independent distributors rather than end-users directly. This focus allows it to operate efficiently and maintain strong partnerships within its channel. While larger competitors boast broader service offerings or direct-to-consumer models, Ennis is respected for its financial discipline, consistent performance over decades, and commitment to its niche market. Understanding who holds stakes in the company provides further context. Exploring Ennis, Inc. (EBF) Investor Profile: Who’s Buying and Why? Its strategy often involves acquiring smaller regional players, consolidating market share incrementally. Despite industry pressures, its operational model and acquisition strategy position it as a resilient player focused on maintaining profitability, evidenced by net earnings of $39.2 million in fiscal year 2024.