EVI Industries Posts Record Fourth-Quarter Revenue of $121.9 Million
The commercial laundry distributor posted record operating income of $5.6 million and adjusted EBITDA of $9.1 million in the quarter ended June 30, 2026.
EVI Industries (EVI), a value-added distributor and service provider in commercial laundry, reported record fourth-quarter revenue of $121.9 million, up 11% from a year earlier.
The Miami-based company said sequential revenue rose 21% from the third quarter’s $101.1 million as deferred deliveries and installations were completed and industrial mix increased. Year-over-year growth had been 8% in the third quarter and 24% in the second.
Gross profit was a record $38.5 million, or a 31.6% margin, an 80-basis-point improvement versus the year-ago quarter. Operating income rose 37% to a record $5.6 million. Net income increased 31% to $2.7 million. Adjusted EBITDA rose 26% to a record $9.1 million, or 7.5% of revenue, a 100-basis-point improvement.
The company said quarterly results have been shaped more by the timing of deliveries and installations than by any change in customer demand, and that adverse weather had delayed certain projects in the third quarter. It said the completion of a portion of that deferred activity, together with an increased mix of industrial sales, contributed to the sequential revenue increase.
Service visits were approximately 30,300 in the fourth quarter, up approximately 10% sequentially, including visits to approximately 11,600 unique customers. The company said demand in commercial laundry has historically been durable and predictable, with equipment, service, parts, and consumables continuously required.
Excluding corporate expenses of $3.8 million, fourth-quarter adjusted EBITDA was $12.9 million, or 10.6% of revenues. Management said its objective is to achieve double-digit consolidated operating margins and that, given performance at the operating level, it believes a double-digit consolidated operating margin is within the company’s reach over time. Corporate expense for the quarter included technology investment as part of an ongoing program.
Operating cash flow was $13.4 million in the fourth quarter, an increase of 35% over the prior-year quarter. Net debt declined $11.5 million during the quarter to $44.2 million at June 30, 2026. The company said its cash generation, balance sheet, and liquidity provide flexibility to continue investing in organic growth, technology, acquisitions, and both its commercial laundry and consumer garment care businesses, while returning capital to shareholders through dividends from time to time.
During fiscal 2026, EVI completed two acquisitions, adding ASN Laundry Group in August 2025 and Belenky, Inc. in February 2026 as the 31st and 32nd commercial laundry businesses to join the company. Acquired businesses generally continue to operate under their established brands with local leadership, the company said.
Following the fiscal year-end, on July 20, 2026, EVI announced plans to expand into consumer garment care services through a new division and a definitive agreement to acquire Miami-based Sudsies, Inc. The acquisition closed on September 1, 2026, and marks EVI’s first dedicated expansion beyond commercial laundry distribution and service since it began executing its long-term growth strategy in 2016. Sudsies serves individual consumers and luxury retail partners. The company said it intends to combine disciplined acquisitions and organic growth with investment in people, processes, and technology to grow the division.
Chairman and Chief Executive Officer Henry M. Nahmad said fiscal 2026 was the company’s best year and that the fourth quarter demonstrated meaningful progress toward the operating leverage the company believes is achievable. He said the model is consistent across both the commercial laundry division and the consumer garment care division.
The company said it continues to monitor tariff developments and has adjusted pricing in response to higher supplier and OEM costs while collaborating with suppliers on cost mitigation. It said it enters fiscal 2027 with greater capability and opportunity for growth.