EVI Industries Q2 revenue rises 24%

Reuters
02/10
<a href="https://laohu8.com/S/EVI">EVI Industries</a> <a href="https://laohu8.com/S/QTWO">Q2</a> revenue rises 24% 

Overview

  • Commercial laundry firm's fiscal Q2 revenue rose 24% to a record $115.3 mln

  • Net income for fiscal Q2 doubled to $2.4 mln

  • Adjusted EBITDA for fiscal Q2 rose 49% to $7.7 mln

Outlook

  • EVI Industries continues to evaluate acquisition opportunities to expand its product portfolio

Result Drivers

  • ACQUISITIONS AND LEGACY OPERATIONS - Revenue growth driven by contributions from acquired businesses and legacy operations

  • FAVORABLE PRODUCT MIX - Increased gross margin attributed to favorable product mix and pricing discipline

  • TECHNOLOGY AND MODERNIZATION - Investments in technology improved service margins and operational efficiency

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

$115.29 mln

Q2 Net Income

$2.37 mln

Q2 Adjusted EBITDA

$7.70 mln

Q2 EBIT

$4.25 mln

Q2 Pretax Profit

$3.17 mln

Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

  • Wall Street's median 12-month price target for EVI Industries Inc is $35.00, about 47.2% above its February 6 closing price of $23.77

Press Release: ID:nBw86tN0Ha

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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