Welcome to our dedicated page for Evi Industries news (Ticker: EVI), a resource for investors and traders seeking the latest updates and insights on Evi Industries stock.
Company Overview
EVI Industries Inc is a distinguished distributor operating primarily in the commercial and industrial sectors, specializing in laundry and dry cleaning equipment as well as industrial steam and hot water boilers. With a longstanding presence in the industry since its origins in 1959, the company has honed its expertise in providing comprehensive solutions that include equipment sales, leasing, renting, and a full suite of technical services. Incorporating industry-specific methods such as turnkey system planning and installation, EVI Industries has solidified its market position through an effective business model that serves a diverse clientele.
Business Segments and Operations
EVI Industries is uniquely positioned as the only publicly traded distributor in its niche industry. The core operations are segmented into:
- Equipment Distribution: The company offers a wide range of commercial laundry equipment and dry cleaning machines manufactured by leading suppliers. This distribution is not limited to sales; it also extends to leases and rentals, providing flexible solutions tailored to varied customer needs.
- Industrial Boilers: Beyond laundry and dry cleaning systems, EVI Industries provides industrial boilers including steam and hot water systems that are critical to several process-driven sectors. Their approach includes providing a comprehensive range of replacement parts and accessories.
- Technical and Turn-Key Services: The company distinguishes itself through detailed design, planning, installation, and maintenance services. Leveraging its deep technical expertise, it manages complex integrations of equipment systems and offers ongoing support, ensuring reliability and operational maximization for its customers.
Market Position and Competitive Landscape
Within a competitive landscape that spans commercial, industrial, institutional, and government sectors, EVI Industries has established a significant market presence in the United States, Canada, the Caribbean, and Latin America. The company utilizes a buy-and-build strategy to acquire market-leading specialty businesses, expanding its geographical reach and service offerings. This strategy provides a foundation for sustained operational resilience. Key differentiation factors include its extensive expertise and its seamless integration of technical services with product distribution, which are essential in managing complex industrial requirements.
Customer Base and Revenue Streams
The customer portfolio of EVI Industries is diverse and extensive. It includes:
- Major commercial enterprises that require reliable laundry and cleaning systems.
- Industrial sectors that depend on robust boiler systems for operational efficiency.
- Institutional and government bodies that demand consistent, high-quality service and support.
- Retail outlets that integrate cleaning and maintenance operations.
This variety of customer demands supports a balanced revenue model that derives income from direct equipment sales, long-term lease agreements, and recurring service contracts. The multi-channel revenue streams not only mitigate risk but also promote a stable operational base across its markets.
Strategic Growth and Operational Excellence
EVI Industries continuously emphasizes operational excellence through its strategic focus on acquiring and integrating market-leading businesses. By fostering a culture of growth and technical precision, the company enhances its product and service offerings. This growth culture is supported by:
- An emphasis on expanding the product lines in laundry, dry cleaning, and boiler systems.
- The addition of new operational locations, which increases geographical and market coverage.
- The scalable integration of technical services that ensure customers receive comprehensive support from installation to maintenance.
Such strategic initiatives not only broaden the company’s market share but also leverage cost efficiencies, operational synergies, and enhanced customer service capabilities.
Technical Services and Industry Expertise
A core facet of EVI Industries is its commitment to technical service excellence. The company provides detailed planning, system design, and maintenance services that are crucial for the longevity and effectiveness of its distributed equipment. This technical service model helps clients reduce downtime, optimize equipment life cycles, and ultimately ensure uninterrupted operations. The integration of technical knowledge with commercial operations underscores the company's commitment to both operational reliability and customer success.
Geographical Footprint and Service Reach
With a robust geographical footprint, EVI Industries covers key markets across North America, including the United States and Canada, along with strategic access to markets in the Caribbean and Latin America. This expansive reach allows the company to serve a dynamic range of industries, adapting its service offerings to meet localized demands while adhering to consistent quality and technical standards across all regions.
Industry Keywords and Strategic Relevance
The discussion of EVI Industries naturally incorporates keywords such as commercial laundry equipment, industrial boilers, and turn-key technical services. These terms highlight the company’s deep industry specialization and operational expertise. Such precise terminology not only aids in search optimization but also conveys the technical proficiency and comprehensive operational framework the company employs. It is this blend of technical acumen and strategic market positioning that reinforces EVI Industries' role as a critical service provider in the equipment distribution industry.
Conclusion
EVI Industries Inc exemplifies a comprehensive approach towards equipment distribution and integrated services in the industrial and commercial sectors. Its multifaceted business model, technical services expertise, and strategic acquisitions help maintain a diversified product and service offering that meets the evolving needs of a broad customer base. By integrating technical excellence with a robust supply chain, the company ensures that it continues to meet the intricate demands of the market with a consistent level of quality and reliability.
EVI Industries reported its financial results for the three and nine months ended March 31, 2022. Revenue for the third quarter decreased 4% to $60 million, while gross profit increased 8% to a record $17 million, raising gross margin by 320 basis points to 28.4%. For the nine-month period, revenue grew 4% to $184 million and net income surged 61% to $2.6 million. EVI continues to expand with several acquisitions and has a backlog of nearly $150 million, reflecting strong market demand despite ongoing supply chain issues.
EVI Industries, Inc. (EVI) has successfully acquired Spynr, Inc., marking its 20th acquisition. Spynr is a marketing agency specializing in the commercial laundry sector, providing services like branding and digital marketing. Founded by Dennis Diaz, Spynr will continue to operate under its name and leadership, with Diaz also taking on the role of EVI's Director of Marketing. This acquisition aims to enhance EVI's marketing capabilities and support its long-term growth strategy focused on delivering comprehensive solutions across the laundry industry.
EVI Industries, Inc. (NYSE American: EVI) has officially acquired Laundry South, its 19th distributor of commercial laundry products, expanding its operations into Mississippi and enhancing its market share in eastern Louisiana. This acquisition aligns with EVI's strategy to build a comprehensive laundry solutions enterprise. EVI emphasizes retaining the existing leadership and culture of Laundry South while pursuing growth and innovation in the commercial laundry sector. CEO Henry M. Nahmad notes the strategic importance of this acquisition for the company’s long-term goals.
EVI Industries (AMEX:EVI) has announced a definitive agreement to acquire Clean Designs, a distributor of commercial laundry products based in Lakewood, CO. This acquisition adds to EVI's strong market position in the Western U.S. and marks its eighteenth commercial laundry business acquisition. The deal will enhance EVI’s product offerings and service capabilities, leveraging Clean Designs' experienced sales and service team. EVI aims to capitalize on growth opportunities while integrating Clean Designs as a subsidiary under its current management.
EVI Industries, Inc. (EVI) reported record results for the second quarter and first half of fiscal 2022, with revenues of $61 million and $124 million, representing 6% and 8% increases, respectively. Gross profit reached $17 million and $34 million, up 17% and 24%, with gross margins at a record 27.7%. Net income grew to $0.53 million and $2.5 million. EVI also maintained a robust backlog of $120 million and completed the acquisition of Consolidated Laundry Equipment. Despite supply chain challenges, the company remains optimistic about long-term growth and profitability, supported by a solid balance sheet and ample liquidity.
EVI Industries, Inc. (AMEX: EVI) announced the completion of its mergers with Consolidated Laundry Equipment and Central Equipment Company on February 7, 2022. This strategic acquisition expands EVI's footprint in the southeastern U.S., where it already operates multiple businesses. EVI’s Chairman, Henry M. Nahmad, highlighted CLE's loyal customer base and operational strength, suggesting the merger will create a leading commercial laundry operation in the region. This marks EVI's 17th acquisition as part of its buy-and-build growth strategy.
EVI Industries, Inc. (EVI) has announced a definitive agreement to acquire Consolidated Laundry Equipment and Central Equipment Company, strengthening its market position in the Southeast U.S. The acquisition is expected to enhance EVI's revenue, which has exceeded $90 million, and integrate CLE's $17 million in annual revenue from commercial laundry products and services. With a focus on growth and operational excellence, EVI continues its 'Buy and Build' strategy, having acquired 17 companies since October 2016. The deal is pending closing conditions and may not be finalized.
EVI Industries achieved record operating results for the first quarter of fiscal 2022, ending September 30, 2021. Revenue rose 10% to $64 million, with gross profit up 32% to $18 million, and net income increasing to $2 million from $0.52 million year-over-year. Adjusted EBITDA soared by 78% to $4.4 million. Continued demand for commercial laundry products, strategic pricing adjustments, and operational optimizations contributed to these gains, despite challenges from supply chain disruptions. The company remains focused on growth through acquisitions and technology investments.
EVI Industries, Inc. (NYSE American: EVI) announced that Chairman and CEO Henry M. Nahmad will host virtual meetings with registered investors during the Baird Global Industrial Conference on November 11, 2021. EVI focuses on long-term growth and shareholder value through a buy-and-build strategy, having acquired 15 commercial laundry distributors in the past 48 months. With operations across 17 states, EVI provides comprehensive laundry solutions, including planning, installation, and maintenance services, catering to various sectors in North America, Latin America, and the Caribbean.
EVI Industries reported record operating results for the fiscal year ending June 30, 2021. Fourth-quarter revenue rose 19% to $65 million, with a gross profit increase of 22% to $16.4 million and net income rising to $6.8 million from a loss of $0.1 million. For the fiscal year, revenue increased 3% to a record $242 million, gross profit increased 8% to $60 million, and net income soared 982% to $8.4 million. The company achieved significant balance sheet improvements, reducing net debt by 68%. EVI's acquisitions of two businesses bolstered operations despite ongoing supply chain challenges.
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