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Dec 31, 2021
Evi Industries Q2 2022 Earnings Report
Achieved record operating results and increased revenue despite supply chain challenges.
Key Takeaways
EVI Industries reported a 6% increase in revenue to $61 million and record gross margins of 28% for the second quarter of fiscal 2022. The company also achieved a record Adjusted EBITDA of $3.1 million, a 33% increase compared to the previous year, despite supply chain disruptions and inflationary pressures.
Revenue increased to $61 million, a 6% increase compared to the second quarter of fiscal 2021.
Gross margins increased to a record 28% for the three months ended December 31, 2021.
Adjusted EBITDA increased 33% to a record $3.1 million, or approximately 5.0%.
Backlog built up to over $120 million, indicating strong demand.
Forward Guidance
The company expects supply chain disruptions and delays to installation schedules to continue in the near term, but remains optimistic about its long-term growth and profitability outlook.
Positive Outlook
- Company has stayed true to its financial principles.
- Company has consistently acquired good businesses.
- Company has strengthened its customer value proposition.
- Company has improved gross and operating margins.
- Company is beginning to realize the benefits of its optimization initiatives.
Challenges Ahead
- Supply chain challenges are expected to continue in the near term.
- Installation delays are expected to continue in the near term.
- Inflationary environment resulting in increased operating expenses.
- Supply chain disruptions at manufacturers of commercial laundry equipment caused by limited component availability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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