Evi Industries, Inc. ( (EVI) ) has released its Q2 earnings. Here is a breakdown of the information Evi Industries, Inc. presented to its investors.
Evi Industries, Inc., a value-added distributor in the commercial laundry industry, specializes in providing equipment and services such as installation, maintenance, and repair. The company also engages in a ‘buy-and-build’ strategy to foster growth.
In its latest earnings report for the quarter ending December 31, 2024, Evi Industries, Inc. posted an increase in revenue and net income compared to the same period in 2023. The company reported revenues of $186.3 million for the six months ending December 2024, up from $179.4 million in the same period the previous year. Net income also saw a significant rise, reaching $4.36 million from $2.62 million in the same period in 2023.
Several key financial metrics highlight the company’s performance: gross profit increased to $56.4 million from $52.1 million, while operating income rose to $7.4 million from $5.6 million year-over-year. The company also engaged in acquisitions, notably acquiring Laundry Pro of Florida and O’Dell Equipment & Supply, enhancing its market presence. The acquisitions contributed to an increase in goodwill and intangible assets.
Evi Industries continues to manage its financial position with a focus on strategic growth. The company increased its long-term debt to $27.9 million from $12.9 million, reflecting its investment in acquisitions and growth initiatives. The company also paid a special cash dividend of $0.31 per share, demonstrating a return of value to shareholders.
Looking forward, Evi Industries aims to sustain its growth trajectory through continued acquisitions and organic growth initiatives. The management remains optimistic about leveraging its expanded capabilities to drive further gains in market share and financial performance.