EVI Industries reports Q3 revenue down 4% but record gross profit and margin; backlog over $150M

EVI INDUSTRIES, INC.

2022-Q3 EPS reported $0.18 revenue$184,485,000

Q3 revenue $60M (-4% YoY); gross profit record $17M (+8%); gross margin record 28.4% (+320 bps).
Nine-month results: revenue record $184M (+4%); gross profit record $52M (+18%); net income up 61% to $2.6M.
Backlog exceeds $150M, up over 20% YoY; credit facility extended to $140M for five years.
Completed acquisitions of Consolidated Laundry, Laundry South, Spynr; agreement for Clean Designs/Clean Route.
Net debt $18.3M, up $12.5M, driven by working capital increases and acquisition costs.

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