Hello, everyone, and welcome to EVI Industries Earnings Call for the second quarter of the fiscal year ending June 30, 2022.
This is Henry Nahmad, Chairman and CEO of EVI.
Before we proceed, our cautionary statement.
This earnings call contains forward-looking statements as defined by SEC laws and regulations.
Forward-looking statements are subject to a number of risks and uncertainties, including those set forth in our earnings press release issued today and in our SEC filings, including the Risk Factors section of our annual report on Form 10-K for the fiscal year ended June 30, 2021.
materially statements. expressed differ by or may forward-looking the results from in those implied Actual
comparable also income, a company EBITDA define call our information non-GAAP adjusted in This regarding includes of performance. and earnings financial the is EBITDA, evaluating to GAAP including today EBITDA measure a a press which adjusted release financial reconciliation that for refer EBITDA, measure. adjusted the Please believes most issued useful discussion is net to of additional adjusted we how
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our The record increases and a improvement among derived improve ended periods with XX, margin respectively. $XX the million resulted in benefits combined that XXXX, to and efforts factors, our other to important of included the believe expand in X-month X and of upon X- continuous gross increase sales we $XX the comprehensive gross that the from, our operating profit for and margins the a XX% million record install customers. reflects in gross connection gross with of these for second quarter December 'XX, than We highlight commercial the we in EVI's a XX sell greater in it business margins to is XX%. or of fiscal with In solutions high had equal to laundry capabilities, results units
Given our striving the growth of gross to still we performance maximize encouraged our and at are business early margin are company, units. all are in we performance of by this
connection XXXX, And investments XXXX and increased expenses This faster to to of performance. record is are second related our increased performance businesses. a onetime or finally, initiatives. a we with million the greater X-month period This performance December industry solid And in personnel of acquisition XX, leverage. installation to XX% X% our a or also fiscal operating level additional at modernization indicates our X% a EBITDA fulfillment includes and of ended improved a the pace, our of will expenses, acquisitions, part operating supply units the approximately includes $X.X generated Adjusted million expenses We EBITDA a which from due and XX% a the achieve sales yielding increased for margin. record our and adjusted margin. operating for performance quarter our that greater results much a operating that to $X.X corporate expenditures and challenges the all consolidation EBITDA higher operating that costs, to approximately that of continuously business significantly operating indicator efforts level with in we operating our increased of believe alleviation
from opportunity we right. long-term company acts we have that In are beginning, closing, is that the committed is as and with stated the when thoughtful and growth-focused a conviction
our good customer and improved strengthened We gross margins. businesses, value and our to financial acquired have principles, consistently true operating proposition stayed
we a collection We is are these realize to industry. and of that just beginning benefits also believe initiatives. leaders dynamic, efforts Supporting the from well-respected entrepreneurial commercial of optimization laundry our the across
businesses, approach and have owners professionals around among Our add who results to may hire. to in family may a we our reputation which including and positive and our seek EVI industry, quality growing of talented we earned among us
and to long-term of our outlook. the customers and growth Until during and these thank fiscal earnings This this be our our mentioned I quarter comments concludes for In related the next about closing, reasons EVI. well. call, optimistic valued For and plans suppliers in and our shareholders we remain to our second support your employees, excited XXXX. time, want and participation loyal others
