EVI reports flat FY revenue, record gross margin, record $33M operating cash flow; special dividend increased 10%

EVI INDUSTRIES, INC.

Fiscal 2024 revenue $353.6M (flat YoY); gross profit record $105.3M (+2%); gross margin record 29.8% (+50 bps).
Net income fell to $5.6M from $9.7M; adj. EBITDA $22.6M vs $25.6M; investments pressured operating income.
Record operating cash flow $33M (+$32M YoY); net debt reduced 71% to $8.3M.
Special dividend $0.31/share (+10%), payable Oct 7, 2024, to holders of record Sep 26, 2024.
Completed acquisitions in PA and TX in FY 2024; third deal in Florida closed July 1, 2024.

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