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Dec 31, 2022
Evi Industries Q2 2023 Earnings Report
EVI Industries announced record results in key performance measures.
Key Takeaways
EVI Industries reported record revenue of $83 million for the quarter ended December 31, 2022, a 36% increase compared to the same period last year, leading to record net income and adjusted EBITDA, with an adjusted EBITDA margin of 7.2%.
EVI reported record revenue of approximately $83 million for the three-month period ended December 31, 2022, a 36% increase compared to the same period of the prior fiscal year.
The company's revenue growth reflects exceptional performance by its sales professionals, effective installation and maintenance services by its technicians, and diligent fulfillment of customer sales order contracts by its sales and service support personnel.
EVI completed the acquisition of Wholesale Commercial Laundry Equipment SE (WCL) during the second fiscal quarter, enhancing the company's brand name product offering and expanding its geographic footprint.
Net debt on December 31, 2022, was $32.5 million, reflecting a $9 million increase as compared to June 30, 2022, due to investments in working capital and acquisitions.
Evi Industries
Evi Industries
Forward Guidance
EVI is well-positioned for continued growth due to its prudent capital allocation strategy, solid operating performance, and strong financial position.