newsfilter
← Latest News
Business Wire·

EVI Industries Reports Record First Fiscal Quarter Results, Highlighting Earnings Growth and Continued Progress Across Its Businesses

EVI
  • EVI Industries reported first-quarter fiscal 2027 revenue of $112.9 million, a 4.3% increase year-over-year, reaching a record high.
  • Gross profit rose 12% to $38.0 million, expanding the gross margin to a record 33.7% from 31.3% previously.
  • Operating income surged 75% to $6.2 million, while net income increased 108% to $3.8 million, with net income margin expanding to 3.4%.
  • Adjusted EBITDA grew 47% to $9.9 million, achieving a record margin of 8.8%.
  • Operating cash flow improved significantly to $7.8 million, compared to $1.0 million in the prior-year period.
  • Net debt increased to $76.7 million at September 30, 2026, from $44.2 million at June 30, 2026, primarily due to borrowings for the Sudsies acquisition.
  • The Commercial Laundry Segment recorded operating income of $11.3 million, a 38% increase, with EBITDA margin expanding to 12.1%.
  • Revenue included approximately $1.6 million from the newly acquired Sudsies consumer garment care division following its September 1, 2026 acquisition.
  • The Commercial Laundry Segment received $0.5 million in tariff refunds during the quarter, recorded as a reduction to cost of sales.
  • EVI acquired West Palm Beach-based Commercial Laundry Equipment (CLZ) after the quarter to expand its Florida presence.
  • The company is investing in people, technology, and processes to improve productivity, with field service operations completing 31,000 appointments for 12,000 customers.
  • Management maintains a disciplined buy-and-build strategy, prioritizing cultural fit and long-term development over rapid acquisition volume.
  • The new consumer garment care services division focuses on customer service quality, operational stability, and selective future expansion.
  • Equipment order backlogs increased, with customers increasingly selecting higher-capacity machines to meet operational needs.
  • Management targets double-digit consolidated operating margins, currently hindered by shared corporate costs and integration investments.
  • The company retains ample liquidity under its revolving credit facility to fund strategic growth and potential future acquisitions.