Overview

• US commercial laundry distributor's fiscal Q3 revenue rose 8% yr/yr to record level

• Net income for fiscal Q3 fell to $0.8 mln from $1.0 mln yr/yr

• Company says severe weather and customer delays impacted revenue fulfillment during the quarter

Outlook

• Company expects operational initiatives to improve scalability, efficiency, and long-term performance

• EVI sees higher inventory tied to confirmed customer orders, with large projects expected in Q4

• Company continues to evaluate acquisition and investment opportunities in commercial laundry industry

Result Drivers

• ACQUISITIONS AND MARKET SHARE - Co said record revenue was driven by contributions from acquired businesses and ongoing market share gains

• OPERATIONAL INITIATIVES - Management said operational modernization and process improvement initiatives, including technology investments and field service platform expansion, supported efficiency and customer engagement

• REVENUE FULFILLMENT DELAYS - Revenue was negatively affected by severe weather and delays in customer facility readiness, delivery, and installation schedules

Company press release: ID:nBwbjpNRDa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue	Miss	$101.13 mln	$111.31 mln (1 Analyst)
Q3 Net Income		$753,000
Q3 Adjusted EBITDA	Miss	$5.60 mln	$7.90 mln (1 Analyst)
Q3 EBIT		$2.26 mln
Q3 Pretax Profit		$1.30 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 74.6% above its May 8 closing price of $20.05

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