Loading...
•
Mar 31, 2023
Evi Industries Q3 2023 Earnings Report
EVI Industries reported record third quarter results driven by revenue growth, entrepreneurial culture, strong demand, new acquisitions, operating efficiencies, and technology advancements.
Key Takeaways
EVI Industries announced record results for the third quarter ended March 31, 2023, driven by a 57% increase in revenue. The company's growth strategy, entrepreneurial culture, and investments in technology contributed to the record performance. Net income margin for the three month period ended March 31, 2023 was 2.9%.
Revenue increased by 57% due to increased product availability, new OEM relationships, industrial sales, and a larger sales organization.
Gross margin was 28.3%, reflecting the impact of greater industrial sales.
Net income margin was 2.9% for the three-month period ended March 31, 2023.
The company's financial position remains strong, with net debt of $34.8 million.
Evi Industries
Evi Industries
Forward Guidance
EVI continues to pursue acquisition and other strategic opportunities in the commercial laundry industry and across other product and service categories that meet our financial and strategic criteria.