EVI Industries (EVI) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly results in revenue, gross profit, gross margin, operating income, net income, and Adjusted EBITDA, driven by organic growth and acquisitions.

• Revenue for the quarter reached $93.6 million, up 6% year-over-year, supported by price increases and recent acquisitions.

• Completed the acquisition of Laundry Pro of Florida and, post-quarter, O'Dell Equipment & Supply, expanding geographic reach and service capabilities.

• Declared and paid the largest special cash dividend in company history, $0.31 per share, totaling $4.6 million.

• Continued investments in technology, efficiency initiatives, and e-commerce to support long-term growth.

Financial highlights

• Revenue rose 6% year-over-year to $93.6 million for the quarter ended September 30, 2024.

• Gross profit increased 12% to $29 million, with gross margin at a record 30.8%.

• Operating income surged 92% to $5 million; net income jumped 152% to $3.2 million (3.5% of revenue).

• Adjusted EBITDA grew 27% to $7.6 million (8.1% of revenue).

• Cash from operating activities was $0.2 million, down from $1.5 million year-over-year due to working capital changes.

Outlook and guidance

• Management expects continued growth and improved operating performance through technology investments, best practices, and organic and acquisition-driven initiatives.

• Future dividends will be considered based on investment opportunities, cash flow, and financial condition.