EVI Industries reported record fiscal 2026 revenue, gross profit and operating income as the commercial laundry company continued expanding through acquisitions, improving operating efficiency and establishing a new consumer garment care business.
For the fiscal year ended June 30, 2026, revenue increased 15% to a record $446.6 million, compared with approximately $389.8 million in fiscal 2025.
Gross profit increased 19% to a record $140.7 million, while gross margin reached a record 31.5%.
Operating income increased 14% to a record $15.7 million, net income increased 3% to $7.7 million, and adjusted EBITDA increased 16% to a record $29.1 million, representing a 6.5% margin.
EVI generated $20.6 million in operating cash flow for the year and ended June with net debt of $44.2 million.
The fourth quarter also produced record results.
Quarterly revenue increased 11% to $121.9 million, while gross profit rose 13% to $38.5 million and gross margin improved 80 basis points to 31.6%.
Fourth-quarter operating income increased 37% to $5.6 million, net income increased 31% to $2.7 million, and adjusted EBITDA increased 26% to a record $9.1 million, representing a 7.5% margin.
Operating cash flow reached $13.4 million during the quarter, while net debt declined $11.5 million.
EVI said growth in higher-margin service, parts and consumables revenue contributed to the improvement in profitability.
During the fourth quarter, the company’s service network completed approximately 30,300 service visits, up about 10% sequentially, covering approximately 11,600 unique customers.
Revenue increased 21% sequentially in the fourth quarter as some installations and deliveries delayed from the third quarter were completed and the mix of industrial sales increased.
On an 11% year-over-year increase in quarterly revenue, EVI generated a 31% increase in net income and 26% growth in adjusted EBITDA, highlighting the operating leverage management is seeking as the business scales.
EVI has substantially deployed its core ERP, field-service and supporting technology platforms and is now focused on standardizing processes, increasing productivity and improving coordination across its businesses.
The company is targeting double-digit consolidated operating margins over time.
Excluding corporate expenses, adjusted EBITDA was $42.9 million, or 9.6% of revenue, for fiscal 2026, and $12.9 million, or 10.6% of revenue, in the fourth quarter.
EVI invested approximately $3.7 million in technology during fiscal 2026, including system configuration, internal solutions, enterprise integration and employee training.
The company also continued its buy-and-build strategy.
During fiscal 2026, EVI acquired ASN Laundry Group and Belenky, representing the 31st and 32nd commercial laundry businesses to join the company.
EVI generally allows acquired businesses to retain their established brands and local management while providing capital, technology and broader operating resources.
After the fiscal year ended, EVI expanded beyond commercial laundry distribution and services by acquiring Sudsies on September 1, 2026 and establishing a new consumer garment care services division.
Sudsies serves individual consumers and luxury retail partners and will serve as the foundation for EVI’s strategy to consolidate and grow within the fragmented consumer garment care market.
EVI believes its operating cash flow, balance sheet and liquidity provide flexibility to continue investing in acquisitions, technology and organic growth across both commercial laundry and consumer garment care.
KEY QUOTES:
“Fiscal 2026 was our best year, and the fourth quarter demonstrated meaningful progress toward the operating leverage we believe is achievable across EVI. Since the close of the fiscal year, we also established a new division in consumer garment care services. Our model is consistent across both the commercial laundry division and the consumer garment care division, as we seek to partner with great operators, provide the resources and capabilities to grow their businesses, and continuously improve performance across the broader organization.”
Henry M. Nahmad, Chairman and CEO of EVI Industries
“Our success in acquisitions extends beyond financial results; it’s built on people, culture, and trust. We take great pride in how we engage with business owners and their teams, striving to honor their legacies and provide their employees with meaningful opportunities to grow within our organization. We believe that this approach has earned us a reputation as the acquirer of choice in the commercial laundry industry, with owners of target companies excited to become part of a value-driven company with a strong track record, a growth-oriented culture, and a deep commitment to customer satisfaction. We expect that this reputation will continue to open doors and fuel our long-term buy-and-build strategy.”
Henry M. Nahmad, Chairman and CEO of EVI Industries
“EVI today rests on a strong foundation: durable end markets, an entrepreneurial and decentralized operating model, deeply invested leadership, consistent cash generation, and a conservatively capitalized balance sheet. That foundation gives our businesses the freedom to think locally, act decisively, and invest for the long term. We believe there is still substantial value to unlock across commercial laundry and that consumer garment care gives us the opportunity to extend our capabilities into a complementary area of the laundry industry with significant long-term potential. We enter fiscal 2027 with greater capability, ample opportunity for growth, and a strong belief about what EVI can achieve.”
Henry M. Nahmad, Chairman and CEO of EVI Industries
