EVI Industries Q2 revenue rises 24%

Reuters

Feb 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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For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(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.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EVI Industries Q2 revenue rises 24%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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equipment peer group is \"buy\"</p></li><li><p>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</p></li></ul><p>Press Release: <span>ID:nBw86tN0Ha</span></p><p>For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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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.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}