Hello, and welcome to EVI Industries Earnings Call for the Fourth Fiscal Quarter and Fiscal Year ended June 30, 2024.
I am Henry Nahmad, Chairman and CEO of EVI.
Before we proceed, we would like to disclose our cautionary statement.
This earnings call contains forward-looking statements as defined by SEC rules 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, 2024.
materially statements. expressed differ by or may forward-looking the results from in those implied Actual
get I make we over Before started, XXX to my valued the appreciation employees that up today. want EVI to share
goals are have devotion our of made our their customers towards people And the the serve, growth mission to the we achieving company, asset Our have. would valuable consistent possible. without we and our not be thousands most progress long-term we
fiscal margin goals. year our will third certain a summarize goals. to million operating record is operating the a 'XX fiscal in reduction of profit service in all business XXXX, we in results will This growth the acquisitions cash $XXX highlighted million June our XX%, I and of million, XX% the immediately ended gross pursuit of for while consummated and in share subsequent connection Today, XX, technologies X with record Fiscal by progress operations. debt field acquisition our new our to investments net and $XX across gross $X.X flow, achieved long-term across our implementation record of long-term 'XX and was regional to make a continue
financial fiscal And including $XXX fiscal over compared key to record a 'XX 'XX, achieved revenue now revenue XX% in 'XX. during revenue operating metrics, Fiscal million our in results for results. increase was and flat which we
and a the customers laundry rate X%. am we services over categories. X-year to industry, The owned the our least thousands provide base in industrial, for revenue multiyear share and of at products opportunities nature offers organic growth I growth have of of annual evaluating the measure pleased on-premise revenue light we businesses compounded for commercial the years a Given essential revenue nature by vended to period, and is of we revenue that laundry consistent X
industrial and installations projects, uneven to from the laundry we industrial remember to subject cycles are related time It revenue to larger from also is timing that projects from complex to generate revenue that while compared derived categories. sales is commercial other of larger as revenue time important longer to
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Moving profit gross and to margin.
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Finally, a business. summary our of investments across
over demand an operations. implemented to certain X% we and nature and growth sales customer grew approximately XXX consistently team we delivered acquisition our operations. regional confirmed pipeline We and scaling services has to a and to new for our backlog investments steady field of provide, Given increased the essential team we the service service XXX orders areas increased across professionals the our that by and service strong products sales technologies critical by X% new in technicians, opportunities,
aims our distribution territories into and addition continuity. increase to in to ensure existing our support service new distribution representations, satisfaction. penetration And the across technicians of sales and capabilities aim Additions to growing customer the to field of our operations sales demand technologies of efficiency our implementation installed service improve expand The base. and service for capture our designed territories and team OEM installation maintenance growing is our
with operating investments incurred will impacted profit, While our investments in that these forthcoming returns these 'XX expect fiscal connection we adversely yield the in the expenses periods. positive
cash financial a fourth liquidity net June million decrease a $X.X we of during at to includes $XX quarter year. perspective, fiscal 'XX, $XX record a to flow period From 'XX, increase at XX, million of and from million $X.X contributed the 'XX, cash operating flow, the fiscal the million XX% compared record which $XX XX, million generated 'XX. in fiscal operating represents June prior strength the in same This a which in during to debt
over sheet our the this company's time common dividend growth the stock available balance with Given of dividend last share over am that pleased Board prospects, declared cash strong of liquidity, and declared cash $XXX a cash XX% $X.XX Directors on a increase million solid I share, our year. special flows special representing and per to profitability of
our professionals customers, were with profit new geographies channels speed, extend On sales and we our operating technology processes. efficiency convenience initiated undertaken and multiple sales to Since EVI has technology retained, scalable data-driven have and initiatives to into increase comprehensive been in that a technology investments, and initiative group goal and reach company. growth, grown transform technology time, modern Various significantly. accelerate a a the XXXX, in third-party technology create serving into
led service resource technology During to fiscal our configuration 'XX, consolidate service e-commerce and implemented units our implementation field technology and planning commenced regional our into enterprise certain systems, business the team of at operations site. end-state efforts successfully planned
catalyst and these and these will expenses in has a be profitability our achieving EVI's near long-term performance believe and costs adversely to technological the initiatives While growth term, the with capabilities impacted financial we other goals. modernization associated
commercial one distributors in On acquisition other acquisitions, the Texas. Pennsylvania during in providers, completed 'XX, fiscal we of X and service and the laundry
businesses distribution customer comprised immediately we loyal service following share professionals definitive we In executed case, the 'XX, purchase similar sales opportunities. X, believe and third market Florida, a with are in completion experienced a 'XX. completed and also service of to there gain of base on provider where acquire in areas fiscal We a agreement geographic July distributor was which each service added and
While completion to commercial unit added revenue. we the X X our EVI ago, work at underwrote over a into approximately EVI little extensive in business we of $X.X the business of is success goes million family, following the per year, buy-and-build to businesses on transaction. many an we stories. have one A X laundry years building many following purchased average, The
with strategic profitability and During diligence collaborated a the the owner that we goals. included management plan revenue to create period, team and
unit XXX% increased over by XXX income Over over increased to organically, the by XX%. last and increased X XXX% years, this operating margin business by operating revenue points EVI basis
One, results believe the business effectively embraced into continuity. product offerings and to include financial under exceptional and owner's We while Two, operations. other functional business of these business experience three, unit support X of maintaining provided the EVI expanded key the unit the of as EVI's by knowledge team resources result geographies, in all a growing factors. leadership, wealth members utilized family. the enhanced And new consumables, added its OEM the were representations its achieved and of
has negotiated, diligenced, been team years. executed and Our our acquisitions sourced, integrated X been have that for Miami, working Florida internally together in by
industry our of and the and actively industry given many continue in family-owned appreciation transactions have reputation a of and the opportunities has business. consideration record when laundry exercise tremendous throughout acquisitions process sensitive a growth a flexibility successful reputation, buying commercial the for Our profound We undertakes our process family team record to industries. and a related contemplating strategic our acquisitions. the and pursue we and Considering in divestiture
that are a years. that on again are in and demonstrated time. finance opportunities aggressive growth is time fundamentally so and business Today, that buy-and-build continuous to the positioned under long-term execute on growth growth strategy. said in we yet continued leadership EVI intend we growth We our our have to at for way I we many conservative executing believe consistent will any of summary, over well continue solid able long-term pursuit In growth has be the our we that
ended XX, to quarter This concludes fourth fiscal fiscal 'XX. year June the comments my and related
to time, valued well. loyal our I and and your participation support always, suppliers and employees, our be As shareholders for in next Until thank want our customers EVI.
