EnviroStar(EVI) - 2025 Q2 - Quarterly Results

Revenue and Profit - Revenue for the three-month period ended December 31, 2024, reached a record of $92.7 million, a 1$27.5 million, with gross margin rising to 29.7% from 28.9%[4] - For the six-month period, revenue increased by 4% to a record of $186.3 million, while gross profit rose by 8$56.4 million, achieving a gross margin of 30.3%[4] - Revenues for the six months ended December 31, 2024, increased to $186,336,000, up from$179,438,000 for the same period in 2023, representing a growth of 4.9%[19] - Gross profit for the six months ended December 31, 2024, was $56,377,000, compared to$52,098,000 in 2023, reflecting an increase of 8.7%[19] - Net income for the six months ended December 31, 2024, rose to $4,360,000, a significant increase from$2,623,000 in the prior year, marking a growth of 66.3%[19] - Adjusted EBITDA for the six-month period increased to a record of $12.7 million, or 6.8$11.5 million, or 6.4% in the previous year[4] - Adjusted EBITDA for the six months ended December 31, 2024, was $12,749,000, compared to$11,492,000 in 2023, indicating an increase of 10.9%[24] Operating Income and Cash Flow - Operating income for the three-month period was $2.4 million, down from$3.0 million in the prior year, while net income was $1.1 million, or 1.2$2.2 million during the six-month period, a decrease of $8.7 million compared to the same period in 2023[10] - The company reported a net cash provided by operating activities of$2,176,000 for the six months ended December 31, 2024, a decrease from $10,858,000 in the same period of 2023[21] Dividends and Capital Expenditures - The company paid a dividend of$4.6 million, marking the largest dividend in its history[4] - The company paid dividends totaling $4,593,000 during the six months ended December 31, 2024, compared to$4,071,000 in the same period of 2023, an increase of 12.9%[21] - Capital expenditures for the six months ended December 31, 2024, were $2,124,000, slightly down from$2,376,000 in the prior year[21] Assets and Liabilities - Total assets as of December 31, 2024, were $248,802,000, up from$230,659,000 as of June 30, 2024, representing an increase of 7.8%[20] - Long-term debt increased to $27,920,000 as of December 31, 2024, compared to$12,903,000 as of June 30, 2024, reflecting a significant rise of 116.5%[20] - Cash at the end of the period decreased to $3,905,000 from$4,558,000 at the beginning of the period, a decline of 14.3%[21] Acquisitions and Workforce Growth - The company completed two acquisitions during the six-month period, enhancing its sales and service expertise in the Southeast region[4] - The sales team grew by 3% to over 190 professionals, while the service team increased by 10% to over 425 professionals, supporting expansion efforts[8] - The company has a backlog of over $100 million in confirmed customer sales orders, indicating strong future revenue potential[5]