EVI Industries (EVI) Q2 2026 earnings summary

Executive summary

• Achieved record second quarter results with revenue up 24% year-over-year, gross profit up 29%, and operating income up 78%, reflecting strong execution and enduring demand for products and services.

• Trailing twelve-month revenue surpassed $425 million as of December 31, 2025, highlighting the success of the buy-and-build growth strategy.

• Transformation since 2016 expanded operations from a single location to 31 businesses with over 900 associates, driving significant compounded annual growth rates in revenue, net income, and adjusted EBITDA.

• Strategic investments in people, technology, and operational capabilities are enhancing scalability, efficiency, and long-term profitability.

• Operating expenses rose due to costs from acquired businesses, higher selling costs, and increased compensation and technology expenses.

Financial highlights

• Second quarter revenue increased 24% year-over-year to $115.3 million, with six-month revenue up 20% to $223.6 million, driven by acquisitions and legacy operations.

• Gross margin expanded to 31.1% for the six months and 30.8% for the quarter, attributed to favorable product mix, pricing discipline, and benefits from acquisitions.

• Net income for the quarter was $2.4 million (2.1% margin), and for six months $4.2 million, with adjusted EBITDA for the quarter at $7.7 million (6.6% of revenue) and for six months $14.4 million (6.4% of revenue).

• Diluted EPS for the six and three months was $0.26 and $0.15, compared to $0.29 and $0.07 year-over-year.

• Operating income for the six and three months was $7.8 million and $4.2 million, compared to $7.4 million and $2.4 million in the prior year.

Outlook and guidance

• Management expects continued growth through organic initiatives and acquisitions, with ongoing investments in modernization and optimization initiatives to drive long-term growth and efficiency.

• Sufficient liquidity is available to fund operations and capital expenditures for at least the next twelve months.

• Management remains confident in the strategy and well-positioned for durable value creation.