EVI Industries Reports 15% Revenue Growth to $446.6 Million, Enters Consumer Garment Care Market

EVI Industries, Inc. reported a 15% increase in total revenues for the fiscal year ending June 30, 2026, reaching $446.6 million, compared to $389.8 million in the previous fiscal year. The company's net income also saw a modest rise of 3%, amounting to $7.7 million, up from $7.5 million in fiscal 2025. This growth was primarily driven by revenues generated from acquisitions made during the fiscal years 2025 and 2026, which contributed significantly to the overall performance. The gross margin improved to 31.5% from 30.4%, attributed to favorable changes in product and customer mix, as well as enhanced sales strategies.

In terms of strategic developments, EVI Industries announced its entry into the consumer garment care services industry with the acquisition of Sudsies, Inc. for $37.4 million, finalized on September 1, 2026. This acquisition marks the company's first significant expansion beyond its core commercial laundry distribution and service operations since initiating its "buy-and-build" growth strategy in 2016. The company aims to leverage its existing infrastructure and expertise to capture a share of the multibillion-dollar consumer garment care market, which has shown consistent demand.

Operationally, EVI Industries serves approximately 55,000 customers across the United States, Canada, the Caribbean, and Latin America, with no single customer accounting for more than 10% of its revenues. The company maintains a workforce of 900 employees, all based in the U.S., and has reported no significant seasonality in its business. The company’s focus on enhancing customer satisfaction through comprehensive service offerings and competitive pricing has been a key factor in its operational strategy.

The company’s total assets decreased slightly from $307 million in 2025 to $304.5 million in 2026, while total liabilities also fell from $163.6 million to $154.4 million. The decrease in liabilities was primarily due to reductions in accounts payable and long-term debt. EVI Industries had approximately $6.8 million in cash at the end of the fiscal year, down from $8.9 million, reflecting cash outflows related to acquisitions and capital expenditures. The company’s credit agreement allows for borrowings of up to $150 million, with $51 million outstanding as of June 30, 2026.

Looking ahead, EVI Industries remains optimistic about its growth trajectory, particularly with the recent acquisition of Sudsies and its plans to expand into the consumer garment care sector. The company believes that its existing cash, anticipated cash from operations, and available credit will be sufficient to fund its operations and capital expenditures for the foreseeable future. However, management acknowledges potential risks, including market conditions and operational challenges associated with its expansion strategy.