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Mar 31, 2022
Evi Industries Q3 2022 Earnings Report
EVI Industries set multiple records in third quarter operating results.
Key Takeaways
EVI Industries reported a decrease in revenue by 4.0% compared to the same period last year, but achieved record gross profits and gross margins. The company's backlog increased by over 20% to nearly $150 million.
Completed the acquisition of Consolidated Laundry Equipment during February 2022.
Backlog increased by over 20% reaching nearly $150 million.
Gross margins increased over 300 basis points to a record 28.4%.
Acquired three additional businesses and have a definitive agreement to acquire a fourth additional business.
Evi Industries
Evi Industries
Forward Guidance
The company is confident in its long-term growth and profitability prospects.
Positive Outlook
- Acquired three additional businesses and have a definitive agreement to acquire a fourth additional business
- Has a backlog worth nearly $150 million
- Set records for gross profit and gross margin
- Sustained a healthy balance sheet
- Secured ample and well-priced liquidity for an additional five years
Challenges Ahead
- Supply chain disruptions
- Inflationary pressures
- Labor shortages
- Unpredictable lead times
- Product delivery delays