Ennis, Inc. reported its financial results for the third quarter ended November 30, 2024, with revenues of $99.8 million. This marks a decrease of $4.8 million, or 4.6%, compared to $104.6 million in the same quarter last year. Despite the revenue decline, net earnings for the quarter increased to $10.2 million, or $0.39 per diluted share, up from $9.9 million, or $0.38 per diluted share, in the prior year's third quarter.
The company's gross profit margin for the quarter improved slightly to 29.3%, compared to 29.2% in the same quarter last year. Selling, general, and administrative costs were reduced by $1.1 million year-over-year, contributing to the improved profitability. The EBITDA margin also increased from 17.5% to 18.2% of sales.
Management noted that an acquisition completed in late June contributed $3.3 million in revenues and $0.02 to diluted earnings per share for the third quarter. This highlights the company's strategy of acquiring new product lines and entering new markets to offset demand softening and increased competition in certain product lines.
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