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Sep 30, 2020
Evi Industries Q1 2021 Earnings Report
EVI Industries achieved record revenue for the first quarter of fiscal 2021 and reduced its net debt.
Key Takeaways
EVI Industries reported record revenue of $58 million for the first quarter of fiscal 2021, a 4.0% increase year-over-year. Net income decreased to $518,000, while adjusted EBITDA was $2.5 million. The company also reduced its net debt by 18% to $14.6 million.
Achieved record revenue for the first quarter of fiscal 2021.
Net debt reduced by 18% from June 30, 2020.
Operating cash flow increased by $2.5 million over the prior fiscal year period.
Completed the acquisition of Yankee Equipment Systems.
Evi Industries
Evi Industries
Forward Guidance
The Company commenced certain initiatives to establish a stronger position for post-COVID success and continues to work towards the consolidation of its various regional businesses and to implement certain technologies.
Positive Outlook
- Long-term growth opportunities remain robust.
- Driven by a large aggregate addressable market.
- Leading and growing market position.
- Focus on providing a broader product and service offering.
- Reputation as a knowledgeable, efficient, and trustworthy acquirer.
Challenges Ahead
- No specific negative aspects provided in the text.