EVI Industries Reports 16% Revenue Growth to $324.7 Million for Nine Months Ending March 31, 2026

EVI Industries, Inc. reported a notable increase in financial performance for the nine months ending March 31, 2026, with revenues reaching $324.7 million, a 16% increase from $279.9 million in the same period last year. The company also saw a rise in net income, which totaled $5.0 million compared to $5.4 million in the prior year. The increase in revenue was primarily driven by contributions from recent acquisitions and price adjustments across its product lines, aimed at maintaining margins amid rising operational costs.

In the most recent quarter, EVI Industries generated $101.1 million in revenue, an 8% increase from $93.5 million in the previous year. Gross profit for the nine-month period increased by 21% to $102.2 million, with gross margins improving from 30.2% to 31.5%. This improvement was attributed to a favorable product and customer mix, which helped offset the rising costs associated with selling, general, and administrative expenses, which increased by 23% to $92.2 million.

The company has been actively pursuing a "buy-and-build" growth strategy, completing two acquisitions during the fiscal year. The acquisition of ASN Laundry Group in August 2025 and Belenky, Inc. in February 2026 contributed to the company's expanded operational capacity and market presence. As of March 31, 2026, EVI Industries reported total assets of $318.2 million, up from $307.0 million at the end of the previous fiscal year, largely due to increases in inventory and other current assets.

Operationally, EVI Industries has maintained a steady workforce, with employee headcount reflecting the integration of acquired businesses. The company reported a decrease in cash reserves, ending the period with $4.3 million compared to $8.9 million at the end of June 2025. This decline was primarily due to cash used in investing activities, which totaled $12.4 million, including cash paid for acquisitions. The company’s long-term debt increased to $60.0 million, reflecting borrowings to finance its acquisitions.

Looking ahead, EVI Industries anticipates continued growth driven by its strategic acquisitions and market expansion efforts. The company remains focused on enhancing its service offerings and optimizing operational efficiencies to improve profitability. However, management acknowledges potential risks, including economic uncertainties and rising interest rates, which could impact future performance. The company is committed to leveraging its existing resources and credit facilities to support its growth initiatives in the coming quarters.