MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries reports having generated record revenue and gross profit during the first quarter of its fiscal year 2025 ending June 30.
First-quarter records were achieved in revenue (increased 6% to $93.6 million), gross profit (increased 12% to $28.9 million), gross margin (increased to 30.8%, compared to 29.2% in first-quarter fiscal 2024), operating income ($5.0 million compared to $2.6 million), net income (increased 152% to $3.2 million, or 3.5%, compared to $1.3 million, or 1.5%), and adjusted EBITDA ($7.6 million, or 8.1%, compared to $6.0 million, or 6.8%).
In 2016, EVI began executing a long-term growth strategy in an attempt to build the “undisputed leader in and around the commercial laundry industry.” The company has grown from one business operating from a single Florida location with 31 employees, including 10 sales professionals and four service technicians, to today encompass 28 businesses employing nearly 800 associates, including over 190 sales professionals and over 400 service personnel.
This has resulted in a compounded annual growth rate in revenue, net income, and adjusted EBITDA of 32%, 20% and 30%, respectively.
“Record operating performance in all key financial metrics is a testament to the well-synchronized efforts of our over 750 associates dedicated to serving our customers while executing on a series of initiatives in pursuit of our long-term performance goals,” says Henry M. Nahmad, EVI chairman and CEO.
EVI remains active in the pursuit of additional investments in other businesses.
The company says it derives its confidence in the long-term possibilities and its ability to achieve performance goals from early successes combined with financial strength and wherewithal, its reputation as a buyer and builder of businesses, the expected future impact of promising technologies, and its leadership team.
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