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EVI Industries (EVI) Revenue Jumps 24% Following Strategic Acquisitions
Yahoo Finance· 2026-03-03 15:19
Core Insights - EVI Industries Inc. reported a 24% increase in revenue for FQ2 2026, reaching $115.3 million, contributing to a trailing twelve-month revenue exceeding $425 million [1] - The company's growth is primarily driven by acquisitions, particularly the acquisition of Continental, and strong performance from existing operations [1] Group 1: Business Strategy - EVI Industries has successfully implemented a buy-and-build strategy, expanding from a single location in Florida in 2016 to a North American leader with 31 businesses and over 900 employees [2] - The company is investing significantly in modernization, with new field service technology improving technician response times by 13% [2] - EVI's data-driven systems are aimed at enhancing the productivity of over 425 service personnel and managing a complex inventory of more than 15,000 SKUs [2] Group 2: Financial Performance - EVI Industries achieved record adjusted EBITDA of $7.7 million for the quarter, marking a 49% year-over-year increase [3] - The company generated positive operating cash flow while intentionally increasing inventory by $12 million to support a growing backlog of confirmed customer contracts [3] - EVI Industries operates in the distribution, sale, rental, and leasing of commercial and industrial laundry and dry-cleaning equipment [3]