Welcome to our dedicated page for Evi Industries news (Ticker: EVI), a resource for investors and traders seeking the latest updates and insights on Evi Industries stock.
EVI Industries, Inc. (NYSE American: EVI) is a value-added distributor and service provider in the commercial laundry industry, and its news flow reflects this focus on equipment, services, and long-term growth. Company press releases frequently highlight record revenue and gross profit results, updates on its buy-and-build acquisition strategy, and commentary on demand trends across industrial, on-premise, vended, and multifamily laundry markets.
Investors following EVI news can expect regular updates on quarterly and annual financial performance, including revenue and margin trends and the use of non-GAAP measures such as adjusted EBITDA. The company often discusses how acquisitions and organic initiatives contribute to its growth, as well as how its balance sheet and revolving credit facility support continued investment in expansion and technology.
Another recurring theme in EVI’s news is strategic acquisitions of commercial laundry distributors and service providers, including transactions described as the largest in the company’s history. These announcements typically explain how new businesses expand EVI’s geographic presence, add experienced sales and service teams, and enhance relationships with OEM partners and distributor networks.
EVI also issues news about its technology initiatives, such as deployment of field service platforms, progress on ERP and business intelligence systems, and development of digital commerce and customer relationship management tools. In addition, the company announces participation in investor conferences, special cash dividends, and governance matters disclosed through SEC-related press releases. For readers and investors, the EVI news page provides a centralized view of how the company is executing its strategy in the North American commercial laundry distribution and service industry.
EVI Industries (NYSE American: EVI) has announced its largest acquisition to date, agreeing to purchase Girbau North America (GNA) for approximately $43 million in cash. This marks EVI's 30th acquisition in its ten-year buy-and-build strategy.
GNA, founded in 1995 as a master distributor of Girbau products, generated $75 million in revenue with 9.5% operating income for the twelve months ended December 31, 2024, and achieved a five-year revenue CAGR of 11%. The acquisition is expected to contribute approximately $50 million in net revenue and $7.0 million in operating income on a pro forma basis.
To fund the acquisition, EVI will utilize its revolving credit facility and has secured a commitment to increase its credit facility by $50 million to $150 million, with an additional $50 million accordion feature. The transaction is expected to be immediately accretive to EVI's earnings and will expand the company's distribution network while enhancing its functional support capabilities.
EVI Industries (NYSE American: EVI) reported record results for Q2 and H1 2024, with Q2 revenue up 1% to $92.7M and H1 revenue up 4% to $186.3M. The company achieved record gross profits, with Q2 gross profit increasing 4% to $27.5M and H1 gross profit up 8% to $56.4M. Gross margins improved to 29.7% in Q2 and a record 30.3% for H1.
The company completed two acquisitions in the Southeast region and deployed field service technology to over 70% of its service organization. EVI maintains a strong equipment sales backlog exceeding $100M. However, Q2 net income decreased to $1.1M from $1.3M year-over-year, while H1 net income increased to $4.4M from $2.6M. The company paid a $4.6M dividend, the largest in its history, and increased its net debt to $24.0M from $8.3M at fiscal year-end.
EVI Industries (NYSE: EVI) has completed its acquisition of Haiges Machinery, a Huntley, Illinois-based company. This marks EVI's 29th acquisition in the commercial laundry distribution and service industry and represents its first entry into the Midwest region of the United States.
The company's buy-and-build strategy encompasses several key components: identifying and partnering with successful businesses led by influential leaders, maintaining existing leadership teams while preserving company culture, fostering innovation through collaboration, supporting aggressive growth initiatives, and creating an ownership culture through long-term equity incentives.
EVI Industries has announced a definitive agreement to acquire Haiges Machinery, a Huntley, IL-based distributor of commercial laundry products and services. This marks EVI's first acquisition in the Midwest region. Haiges Machinery, with its 25 employees, will continue operating under its existing name and from its current facility.
This represents EVI's 29th commercial laundry business acquisition, maintaining its position as the fastest-growing and only listed company in the North American commercial laundry distribution and services industry. The transaction, to be paid in cash, is expected to close upon meeting customary conditions and contribute to EVI's earnings for the fiscal year ending June 30, 2025.
The acquisition aligns with EVI's buy-and-build strategy, which focuses on partnering with influential leaders, retaining leadership teams, fostering growth and innovation, and creating an ownership culture through long-term equity incentives.
EVI Industries reported record first quarter results for fiscal 2025, with revenue increasing 6% to $93.6 million and net income surging 152% to $3.2 million. The company achieved record figures across key metrics, including gross profit up 12% to $28.9 million and operating income at $5.0 million. Gross margin improved to 30.8% from 29.2%. During the quarter, EVI completed the acquisition of Laundry Pro of Florida and declared a special cash dividend of $0.31 per share. The company maintains a strong balance sheet with over $100 million in available liquidity, despite net debt increasing to $15.5 million.
EVI Industries has completed its 28th acquisition in the commercial laundry industry by purchasing O'Dell Equipment and Supply, a Jeffersonville, Indiana-based distributor of commercial laundry products and services. O'Dell, which generated revenues of approximately $10.5 million for the twelve months ended June 30, 2024, will continue operating under its existing name and retain all 25 employees. This marks EVI's 12th acquisition in the Southeast region of the United States, aligning with their strategy to offer comprehensive commercial laundry solutions across North America.
EVI Industries (NYSE American: EVI) has announced its participation in the Baird Global Industrial Conference at The Ritz-Carlton, Chicago on November 12, 2024. Chairman and CEO Henry M. Nahmad will present and host one-on-one meetings with registered investors.
The company has implemented a successful buy-and-build strategy, acquiring 27 commercial laundry distributors across North America in eight years. Operating from 30 distribution locations across 19 states, EVI exports to Latin America and the Caribbean. Since 2016, the company has achieved impressive growth rates: 33% in revenue, 16% in net income, and 30% in Adjusted EBITDA.
EVI Industries (NYSE American: EVI) has announced a special cash dividend of $0.31 per share on its common stock, representing a 10% increase from the October 2023 special dividend. The dividend is payable on October 7, 2024 to stockholders of record as of September 26, 2024. CEO Henry M. Nahmad attributed this decision to strong cash flows in fiscal 2024 and positive growth prospects. The company aims to reward long-term investors while maintaining a conservative financial position. EVI's Board of Directors will consider future dividends based on various factors, including investment opportunities, economic conditions, and the company's financial status.
EVI Industries (NYSE American: EVI) reported its financial results for Q4 and fiscal year 2024, highlighting record operating cash flows of $33 million for the year. The company achieved an 8.0% compounded annual organic revenue growth rate over three years. Key fiscal 2024 highlights include:
- Revenue of $353.6 million, flat compared to 2023
- Gross profit increased 2% to a record $105.3 million
- Gross margin improved 50 basis points to a record 29.8%
- Net income of $5.6 million, down from $9.7 million in 2023
- Net debt reduced by 71% to $8.3 million
EVI completed two acquisitions during the year and a third on July 1, 2024. The company's Board declared a special cash dividend of $0.31 per share, a 10% increase from the previous year.
EVI Industries, Inc. (NYSE American: EVI) has announced its participation in the Sidoti September Small-Cap Virtual Conference. Chairman and CEO Henry M. Nahmad will host one-on-one meetings with registered investors on September 18 and 19, 2024. EVI has implemented a successful buy-and-build strategy, acquiring 27 commercial laundry distributors and service providers in North America over the past eight years. The company now operates from over 30 distribution locations in 19 states and exports to Latin America and the Caribbean.
EVI's growth strategy has yielded impressive results, with revenue, net income, and Adjusted EBITDA growing at compounded annual growth rates of 34%, 16%, and 31%, respectively, since 2016. The company continues to focus on long-term growth and shareholder value creation in the commercial laundry industry.