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Dec 31, 2019
Evi Industries Q2 2020 Earnings Report
EVI Industries reported record revenue, gross profit, and operating cash flow.
Key Takeaways
EVI Industries announced record revenue, gross profit, and operating cash flows for the second quarter of fiscal year 2020. The company's performance reflects its buy-and-build growth strategy and organic growth.
Revenue increases were due to the results of operations of acquired businesses.
Revenue increases reflect the effectiveness of sales growth strategies and favorable trends in the commercial laundry industry.
Gross margin decrease reflects efforts to build market share by increasing the installed base of commercial laundry equipment.
Operating income and Adjusted EBITDA reflect continued investment in acquired businesses and increased expenses related to growth and modernization initiatives.
Evi Industries
Evi Industries
Forward Guidance
EVI intends to continue making investments in acquired businesses, collaborating with supplier partners, and pursuing operating efficiencies. The company believes that the combination of revenue growth and an increasingly modern and efficient operation will lead to high operating leverage.