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) announced that Chairman and CEO Henry M. Nahmad will hold one-on-one meetings with investors at the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021. EVI is implementing a long-term buy-and-build growth strategy in the commercial laundry sector, expanding from one distributor in Miami to 17 distributors across 26 locations and achieving over 700% annual revenue growth. The company offers advisory, consulting, and distribution services for commercial laundry operations, serving diverse customers.
EVI Industries reported record fiscal third quarter results with revenue hitting $62 million, a 6% increase year-over-year. Gross profit rose 14% to $15.8 million, leading to a gross margin of 25%. Adjusted EBITDA increased 43% to $3.0 million. For the nine-month period, revenue decreased 2% to $177 million, though gross profit rose 4%. The company executed acquisitions to bolster market share and continues to strengthen its balance sheet with $19.8 million in net debt as of March 31, 2021.
EVI Industries, Inc. (NYSE American: EVI) announced that CEO Henry M. Nahmad will host one-on-one meetings at the Wells Fargo Securities Virtual Industrials Conference on May 5, 2021. EVI has pursued a buy-and-build growth strategy, expanding from one distributor in Miami with $30 million in annual revenue to seventeen distributors in 26 locations across 18 states, achieving over 700% revenue growth. The company provides commercial laundry equipment and services and caters to various sectors including retail and government.
EVI Industries (NYSE American: EVI) announced that CEO Henry M. Nahmad will host one-on-one meetings with registered investors at the Roth Virtual Conference from March 15 to March 17, 2021. Interested parties can contact Roth Capital Partners for scheduling. EVI follows a buy-and-build strategy aimed at long-term growth and has acquired 15 commercial laundry distributors over the last four years. The company offers a range of commercial laundry equipment and support services to various sectors.
EVI Industries reported its financial results for the three- and six-month periods ended December 31, 2020. The Company posted a revenue decline of 14% and 6% for the respective periods, totaling $57 million and $115 million. Acquisitions of Yankee and Eastern Laundry Systems reinforced its growth strategy, bringing total operations to 17 businesses. Despite challenges from COVID-19, gross profit hit a record of $14.4 million, with an increase in gross margins from 21% to 25%. EVI maintains a strong balance sheet with $17.7 million in net debt, reflecting a 1% decrease since June 2020.
EVI Industries, Inc. (EVI) has successfully acquired Eastern Laundry Systems as of January 15, 2021. This strategic acquisition aligns with EVI's long-term growth strategy of enhancing their portfolio and expanding market share in the commercial laundry industry. Eastern Laundry Systems, based in Taunton, Massachusetts, specializes in distributing laundry products and providing installation and maintenance services. EVI aims to leverage this addition to improve customer relationships and drive long-term profitability through expanded sales capabilities.
EVI Industries, Inc. (EVI) announced a definitive purchase agreement to acquire Baystate Business Ventures, known as Eastern Laundry Systems, a distributor of commercial laundry products based in Taunton, Massachusetts. This strategic acquisition aligns with EVI's goal to enhance its sales and service capabilities across geographic markets. Eastern Laundry Systems is recognized for exceptional service and quality products in New England. The transaction is pending the satisfaction of closing conditions.