EVI Industries Reports Record Second Quarter Results

EVI Industries, Inc. (NYSE American: EVI) recently disclosed its financial performance for the quarter ended December 31, 2024, showcasing record revenue and gross profits for both the quarter and the six-month period. The company also shared insights on its operational results, cash flow, and financial position, along with detailing its continued investments in technological advancements.

EVI has been establishing itself as a prominent player in the North American commercial laundry distribution and service industry, registering substantial growth rates in revenue, net income, and adjusted EBITDA since 2016. This growth has been driven by a cohesive long-term growth strategy, successful acquisitions, and a committed leadership team focused on driving sustainable success.

Commenting on the results, Henry M. Nahmad, Chairman and CEO of EVI, underlined the company’s commitment to long-term growth ambitions. He emphasized the importance of strategic investments in technology, operational efficiency, and talent to enhance competitiveness and ensure continued success.

Key Achievements for the period include the deployment of field service technology, surpassing e-commerce platform milestones, successful customer sales contracts, and strategic acquisitions enhancing the company’s regional expertise. Notably, EVI paid its largest dividend to date during this period, reflecting confidence in its financial strength and growth potential.

In the financial summary, for the three-month period ending December 31, 2024, revenue increased to $92.7 million, with gross profit reaching $27.5 million. Similarly, for the six-month period, revenue grew to $186.3 million with gross profit escalating to $56.4 million, both setting new records for the company. Operating income, net income, and adjusted EBITDA also displayed positive trends across both periods.

EVI Industries elaborated on its technology investments to modernize operations, drive sales growth, and enhance customer service. While these investments impacted short-term financials, the company believes in the long-term benefits these capabilities will deliver.

With steady demand for its products and a strong sales pipeline, EVI Industries remains optimistic about future growth prospects. The company’s fundamental strengths, technological advancements, and strategic relationships position it well for sustained profitability and market share expansion.

Overall, EVI Industries’ strategic initiatives, financial performance, and continuous investments portray a positive outlook for the company’s future growth and market positioning. For more detailed financial information, interested parties can refer to the Quarterly Report on Form 10-Q for the quarter ended December 31, 2024, filed with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EVI Industries’s 8K filing here.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.