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Malaysian Reserve
6 days ago
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Economic Uncertainty Continues as Inventory Levels Rise Across Truck and Construction Equipment Markets
LINCOLN, Neb., June 4, 2025 /PRNewswire/ — New Sandhills Global market reports show inventory levels rising month over month for U.S. used truck, semi-trailer, and construction equipment markets on Sandhills platforms, which include and Inventory levels in the used heavy-duty truck and semi-trailer markets are trending sideways despite monthly increases. However, used medium-duty truck inventory levels are continuing a steady upward trend, while asking and auction values remain on a downward trend. 'Uncertainty has filled the truck market,' says Truck Paper Manager Scott Lubischer. 'Dealers are selling trucks not because they are upgrades, but because people still need to operate. Dealers are lowering prices to drive sales, but they are feeling the effects of slowed port activity, lower freight volumes, and tariffs.' In the used heavy- and medium-duty construction equipment markets, Sandhills has observed inventory levels trending downward despite small monthly upticks in May. Asking prices and auction values dipped lower across all used construction equipment markets; trend lines are holding steady, but if value drops persist, they may also shift trend lines downward. 'Used equipment dealers are navigating a mixed market,' says Director of North America Construction Stephanie Olberding. 'Seasonal drops in demand have contributed to the slight heavy-duty construction inventory increases noted in the May reports.' The key metric in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values. Additional Market Report TakeawaysSandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semi-trailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request. U.S. Heavy-Duty Trucks Inventory levels in this market rose 3.9% month over month in May and fell 21.83% year over year, but maintained a steady trend. Used sleeper trucks led other categories in inventory level changes, both M/M, with a 6.38% increase, and YOY, with a 35.37% decrease. Asking values in this market have also been trending sideways, with a marginal 0.19% increase M/M and a 2.51% decrease YOY in May. The used sleeper truck category had the largest M/M asking value increase at 1.29%, while used day cab trucks had the largest YOY decrease at 5.62%. Auction values posted small increases of 0.67% M/M and 0.38% YOY in May and are trending upward. Used sleeper trucks led other categories in M/M auction value increases, up 2.63%, while used day cab trucks posted the largest YOY auction value drop at 7.10%. U.S. Used Semi-Trailers Inventory levels in the U.S. used semi-trailer market have maintained a steady trend. In May, inventory increased by 3.41% M/M, but was 11.2% lower than year-ago levels. The used reefer trailer category showed the largest M/M inventory increase at 10.49%, while used dry van trailers had the largest per-category YOY decrease at 18.29%. Asking values are trending up, with a 0.91% M/M increase and a 2.92% YOY decrease in May. The used reefer trailer category drove M/M asking value increases with a 6.31% jump. The used flatbed trailer category led in YOY asking value decreases, down 4.05%. Although auction values decreased by 0.81% M/M in May, they increased 2.05% YOY and are trending up. Notably, used dry van trailers showed the largest M/M auction value decrease at 5.31%, and used flatbed trailers had the largest YOY increase at 3.67%. U.S. Used Medium-Duty Trucks Inventory levels in the U.S. used medium-duty trucks market continue to trend upward. In May, inventory was up 1.83% M/M and 25.79% YOY. The used moving box truck category posted the largest M/M inventory increase at 19.51%, while used reefer box trucks had the largest per-category YOY inventory increase at 85.92%. Asking and auction values in this market have been trending downward for nine months. In May, asking values declined 0.97% M/M and 2.83% YOY, led by decreases in the used stake truck category, down 5.62% M/M, and the used moving truck category, down 7.86% YOY. Auction values decreased by 0.55% M/M and 1.73% YOY in May. Category leaders were used stake trucks, with auction values decreasing 5.89% M/M, and used reefer box trucks, with auction values down 6.84% YOY. U.S. Used Heavy-Duty Construction Equipment Inventory levels in this market have been trending downward for five months. In May, inventory levels increased by 1.23% M/M but were down 2.52% YOY. The used wheel loader category exhibited the largest M/M inventory increase at 1.7%, while used crawler excavators posted the largest YOY inventory decrease at 5.83%. Asking values are on a steady trend despite decreases of 1.9% M/M and 3.91% YOY in May. Used dozers led other categories in M/M asking value decreases at 2.46%, while used crawler excavators led other categories in YOY asking value decreases at 5.11%. Auction values are also trending sideways, with decreases of 0.69% M/M and 1.4% YOY in May. The used dozer category posted the largest M/M auction value decrease at 1.85%, while used wheel loaders had the largest per-category YOY auction value decrease at 5.42%. U.S. Used Medium-Duty Construction Equipment Inventory levels in the U.S. used medium-duty construction market are trending down, with a 0.48% increase M/M, and a 2.06% decrease YOY in May. Used wheeled skid steers showed the largest M/M inventory increase at 4.85%, while used mini excavators exhibited the largest YOY inventory decrease at 11.98%. Asking values in this market are trending sideways, with a 0.92% decrease M/M and a 3.05% decrease YOY. The used loader backhoes category showed the largest M/M asking value decrease at 1.8%, while used track skid steers exhibited the largest YOY asking value decrease at 4.69%. Auction values are trending up despite May decreases of 0.81% M/M and 0.82% YOY. The used loader backhoes category showed the largest M/M auction value decrease at 2.6% and the largest YOY auction value decrease at 3.29%. U.S. Used Lifts Inventory levels in the U.S. used lifts market have been trending upward, despite a slight decrease of 0.52% M/M in May, and are 14.3% higher YOY. The used pneumatic-tire forklift category exhibited the largest M/M inventory increase at 8.1%, while the used rough terrain scissor lift category showed the most significant YOY inventory growth at 31.89%. Asking values in this market decreased by 0.95% M/M and 8.16% YOY, maintaining a downward trend. The used rough terrain scissor lift category posted the largest M/M asking value decrease at 2.81%, and also showed the steepest YOY decline at 16.67%. Auction values decreased by 3.53% M/M and 7.04% YOY in May but kept a sideways trend. The used rough terrain scissor lift category experienced the largest M/M auction value decrease at 11.78%, and also had the largest YOY decrease at 13.82%. U.S. Used Tractors 100 Horsepower and Greater Inventory levels of U.S. used tractors 100 horsepower and greater declined 2.5% M/M and 0.66% YOY in May, following a downward trend. The used 100- to 174-HP tractor category had the largest impact on this market, with inventory falling 4.8% M/M and 9.59% YOY. Asking values decreased 1.88% M/M and 6.41% YOY and are trending downward. The used high-horsepower tractor category (tractors 300 HP and greater) showed both the largest M/M asking value decrease, down 2.94%, and the largest YOY decrease, down 6.63%. Despite auction values falling 2.09% M/M and 4.1% YOY in May, they are on a sideways trend. Sandhills observed the largest M/M decrease in the used high-HP tractor category, down 3.21%, and the most significant YOY decrease in the used 175- to 299-HP tractor category, down 3.84%. The EVI spread, which measures the percentage difference between asking and auction values, maintained at 38%, still slightly lower than peak values observed in 2015. U.S. Used Combines Inventory levels of used combine harvesters decreased by 0.11% M/M in May and were down 5.54% compared to year-ago levels. Despite the decline, this market is trending up. Asking values maintained an upward trend, rising 0.95% M/M and 0.15% YOY in May. Auction values continued a five-month upward trend in May, increasing 2.43% M/M and 7.71% YOY. The EVI spread continued to fall, reaching 42%, which is lower than peak values observed in 2015. U.S. Used Sprayers Inventory levels of U.S. used sprayers on Sandhill platforms have maintained a downward trend. In May, inventory decreased by 3.34% M/M and 5.22% YOY. Asking values for used sprayers are trending downward, with decreases of 2.09% M/M and 5.79% YOY in May. Auction values for used sprayers are following a steady trend but dipped 2.26% M/M and 3.7% YOY in May. The EVI spread 43%, only slightly lower than peak values from 2015. U.S. Used Planters Inventory levels of U.S. used planters on Sandhills platforms are trending downward. In May, inventory decreased by 3.7% M/M and 13.49% YOY. Asking values in this market have maintained a steady trend. However, asking values decreased by 3.54% M/M and 2.04% YOY in May. Auction values are also trending sideways, decreasing by 6.13% M/M but increasing by 6.70% YOY in May. The EVI spread increased to 55%, still lower than peak values observed in 2015. U.S. Used Compact and Utility Tractors Inventory levels of U.S. used compact and utility tractors on Sandhills platforms have been trending downward for seven months in a row. Inventory levels dropped 3.8% M/M and 24.06% YOY in May. The used less-than-40-HP tractor category exerted the greatest influence on inventory levels, with decreases of 5.62% M/M and 27.74% YOY. Asking values continued an upward trend, posting a slight 0.11% M/M increase and 1.18% YOY decrease. The used 40- to 99-HP tractor category showed the largest YOY decrease at 3.26%. Auction values showed a marginal 0.4% M/M decrease and a 0.3% YOY increase and are trending sideways. The used less-than-40-horsepower tractor category had the largest YOY decrease at 1.69%. Obtain the Full ReportsFor more information or to receive detailed analysis from Sandhills Global, contact us at marketreports@ About Sandhills GlobalSandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information through trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud. About the Sandhills Equipment Value IndexThe Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP), Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry. Contact
Yahoo
6 days ago
- Business
- Yahoo
Economic Uncertainty Continues as Inventory Levels Rise Across Truck and Construction Equipment Markets
LINCOLN, Neb., June 4, 2025 /PRNewswire/ -- New Sandhills Global market reports show inventory levels rising month over month for U.S. used truck, semi-trailer, and construction equipment markets on Sandhills platforms, which include and Inventory levels in the used heavy-duty truck and semi-trailer markets are trending sideways despite monthly increases. However, used medium-duty truck inventory levels are continuing a steady upward trend, while asking and auction values remain on a downward trend. "Uncertainty has filled the truck market," says Truck Paper Manager Scott Lubischer. "Dealers are selling trucks not because they are upgrades, but because people still need to operate. Dealers are lowering prices to drive sales, but they are feeling the effects of slowed port activity, lower freight volumes, and tariffs." In the used heavy- and medium-duty construction equipment markets, Sandhills has observed inventory levels trending downward despite small monthly upticks in May. Asking prices and auction values dipped lower across all used construction equipment markets; trend lines are holding steady, but if value drops persist, they may also shift trend lines downward. "Used equipment dealers are navigating a mixed market," says Director of North America Construction Stephanie Olberding. "Seasonal drops in demand have contributed to the slight heavy-duty construction inventory increases noted in the May reports." The key metric in all of Sandhills' market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values. Additional Market Report TakeawaysSandhills market reports highlight the most significant changes in Sandhills' used heavy-duty truck, semi-trailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request. U.S. Heavy-Duty Trucks Inventory levels in this market rose 3.9% month over month in May and fell 21.83% year over year, but maintained a steady trend. Used sleeper trucks led other categories in inventory level changes, both M/M, with a 6.38% increase, and YOY, with a 35.37% decrease. Asking values in this market have also been trending sideways, with a marginal 0.19% increase M/M and a 2.51% decrease YOY in May. The used sleeper truck category had the largest M/M asking value increase at 1.29%, while used day cab trucks had the largest YOY decrease at 5.62%. Auction values posted small increases of 0.67% M/M and 0.38% YOY in May and are trending upward. Used sleeper trucks led other categories in M/M auction value increases, up 2.63%, while used day cab trucks posted the largest YOY auction value drop at 7.10%. U.S. Used Semi-Trailers Inventory levels in the U.S. used semi-trailer market have maintained a steady trend. In May, inventory increased by 3.41% M/M, but was 11.2% lower than year-ago levels. The used reefer trailer category showed the largest M/M inventory increase at 10.49%, while used dry van trailers had the largest per-category YOY decrease at 18.29%. Asking values are trending up, with a 0.91% M/M increase and a 2.92% YOY decrease in May. The used reefer trailer category drove M/M asking value increases with a 6.31% jump. The used flatbed trailer category led in YOY asking value decreases, down 4.05%. Although auction values decreased by 0.81% M/M in May, they increased 2.05% YOY and are trending up. Notably, used dry van trailers showed the largest M/M auction value decrease at 5.31%, and used flatbed trailers had the largest YOY increase at 3.67%. U.S. Used Medium-Duty Trucks Inventory levels in the U.S. used medium-duty trucks market continue to trend upward. In May, inventory was up 1.83% M/M and 25.79% YOY. The used moving box truck category posted the largest M/M inventory increase at 19.51%, while used reefer box trucks had the largest per-category YOY inventory increase at 85.92%. Asking and auction values in this market have been trending downward for nine months. In May, asking values declined 0.97% M/M and 2.83% YOY, led by decreases in the used stake truck category, down 5.62% M/M, and the used moving truck category, down 7.86% YOY. Auction values decreased by 0.55% M/M and 1.73% YOY in May. Category leaders were used stake trucks, with auction values decreasing 5.89% M/M, and used reefer box trucks, with auction values down 6.84% YOY. U.S. Used Heavy-Duty Construction Equipment Inventory levels in this market have been trending downward for five months. In May, inventory levels increased by 1.23% M/M but were down 2.52% YOY. The used wheel loader category exhibited the largest M/M inventory increase at 1.7%, while used crawler excavators posted the largest YOY inventory decrease at 5.83%. Asking values are on a steady trend despite decreases of 1.9% M/M and 3.91% YOY in May. Used dozers led other categories in M/M asking value decreases at 2.46%, while used crawler excavators led other categories in YOY asking value decreases at 5.11%. Auction values are also trending sideways, with decreases of 0.69% M/M and 1.4% YOY in May. The used dozer category posted the largest M/M auction value decrease at 1.85%, while used wheel loaders had the largest per-category YOY auction value decrease at 5.42%. U.S. Used Medium-Duty Construction Equipment Inventory levels in the U.S. used medium-duty construction market are trending down, with a 0.48% increase M/M, and a 2.06% decrease YOY in May. Used wheeled skid steers showed the largest M/M inventory increase at 4.85%, while used mini excavators exhibited the largest YOY inventory decrease at 11.98%. Asking values in this market are trending sideways, with a 0.92% decrease M/M and a 3.05% decrease YOY. The used loader backhoes category showed the largest M/M asking value decrease at 1.8%, while used track skid steers exhibited the largest YOY asking value decrease at 4.69%. Auction values are trending up despite May decreases of 0.81% M/M and 0.82% YOY. The used loader backhoes category showed the largest M/M auction value decrease at 2.6% and the largest YOY auction value decrease at 3.29%. U.S. Used Lifts Inventory levels in the U.S. used lifts market have been trending upward, despite a slight decrease of 0.52% M/M in May, and are 14.3% higher YOY. The used pneumatic-tire forklift category exhibited the largest M/M inventory increase at 8.1%, while the used rough terrain scissor lift category showed the most significant YOY inventory growth at 31.89%. Asking values in this market decreased by 0.95% M/M and 8.16% YOY, maintaining a downward trend. The used rough terrain scissor lift category posted the largest M/M asking value decrease at 2.81%, and also showed the steepest YOY decline at 16.67%. Auction values decreased by 3.53% M/M and 7.04% YOY in May but kept a sideways trend. The used rough terrain scissor lift category experienced the largest M/M auction value decrease at 11.78%, and also had the largest YOY decrease at 13.82%. U.S. Used Tractors 100 Horsepower and Greater Inventory levels of U.S. used tractors 100 horsepower and greater declined 2.5% M/M and 0.66% YOY in May, following a downward trend. The used 100- to 174-HP tractor category had the largest impact on this market, with inventory falling 4.8% M/M and 9.59% YOY. Asking values decreased 1.88% M/M and 6.41% YOY and are trending downward. The used high-horsepower tractor category (tractors 300 HP and greater) showed both the largest M/M asking value decrease, down 2.94%, and the largest YOY decrease, down 6.63%. Despite auction values falling 2.09% M/M and 4.1% YOY in May, they are on a sideways trend. Sandhills observed the largest M/M decrease in the used high-HP tractor category, down 3.21%, and the most significant YOY decrease in the used 175- to 299-HP tractor category, down 3.84%. The EVI spread, which measures the percentage difference between asking and auction values, maintained at 38%, still slightly lower than peak values observed in 2015. U.S. Used Combines Inventory levels of used combine harvesters decreased by 0.11% M/M in May and were down 5.54% compared to year-ago levels. Despite the decline, this market is trending up. Asking values maintained an upward trend, rising 0.95% M/M and 0.15% YOY in May. Auction values continued a five-month upward trend in May, increasing 2.43% M/M and 7.71% YOY. The EVI spread continued to fall, reaching 42%, which is lower than peak values observed in 2015. U.S. Used Sprayers Inventory levels of U.S. used sprayers on Sandhill platforms have maintained a downward trend. In May, inventory decreased by 3.34% M/M and 5.22% YOY. Asking values for used sprayers are trending downward, with decreases of 2.09% M/M and 5.79% YOY in May. Auction values for used sprayers are following a steady trend but dipped 2.26% M/M and 3.7% YOY in May. The EVI spread 43%, only slightly lower than peak values from 2015. U.S. Used Planters Inventory levels of U.S. used planters on Sandhills platforms are trending downward. In May, inventory decreased by 3.7% M/M and 13.49% YOY. Asking values in this market have maintained a steady trend. However, asking values decreased by 3.54% M/M and 2.04% YOY in May. Auction values are also trending sideways, decreasing by 6.13% M/M but increasing by 6.70% YOY in May. The EVI spread increased to 55%, still lower than peak values observed in 2015. U.S. Used Compact and Utility Tractors Inventory levels of U.S. used compact and utility tractors on Sandhills platforms have been trending downward for seven months in a row. Inventory levels dropped 3.8% M/M and 24.06% YOY in May. The used less-than-40-HP tractor category exerted the greatest influence on inventory levels, with decreases of 5.62% M/M and 27.74% YOY. Asking values continued an upward trend, posting a slight 0.11% M/M increase and 1.18% YOY decrease. The used 40- to 99-HP tractor category showed the largest YOY decrease at 3.26%. Auction values showed a marginal 0.4% M/M decrease and a 0.3% YOY increase and are trending sideways. The used less-than-40-horsepower tractor category had the largest YOY decrease at 1.69%. Obtain the Full ReportsFor more information or to receive detailed analysis from Sandhills Global, contact us at marketreports@ About Sandhills GlobalSandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information through trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud. About the Sandhills Equipment Value IndexThe Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global marketplaces, including and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP), Sandhills' proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry. Contact View original content to download multimedia: SOURCE Sandhills Global Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Enric Saavedra named Girbau North America Liaison
OSHKOSH, Wis., May 23, 2025 /PRNewswire/ -- Enric Saavedra was recently named Girbau Global Laundry Solutions' (Girbau) international key account director – making him the main point of contact between Girbau and Girbau North America (GNA). Acting as a liaison, Saavedra facilitates communication and collaboration between the companies, ensuring information flows effectively and that both companies understand each other's needs and goals, according to GNA President Mike Floyd. "Enric's not only qualified to do this job, he's been a longtime supporter of GNA and the business we do here," said Floyd. "He's worked our 'Clean' shows, interfaced with our distributors, met with our customers and understands our markets. He's truly committed to growing North American sales." Saavedra, who joined Girbau in 2009, served as business development manager for 11 years before becoming APAC regional business leader in 2020. In his new role, he focuses on global accounts, of which GNA is the largest. "Girbau's commitment to the North American market is a top priority," said Saavedra. "We expect our collaboration to expand distribution and lead us into developing new, high-quality laundry solutions with speed and precision." he said. As an EVI Industries Inc. (EVI) company, GNA is stronger than it's ever been, according to Vice President of Sales Joel Jorgensen. "Enric will help us to develop new products for specific niche markets and fill gaps in offerings and capabilities to grow overall sales," he said. GNA is well-positioned for the future, Jorgensen added. "During a time when many other manufacturers are going direct, GNA and EVI believe in the value of distributors and the support they provide to end users," he said. "We are closer to the market now more than ever because we are in distribution along with our independent and EVI distributors across North America." To learn more about GNA's products, services or career opportunities, visit or call 800-256-1073. Media ContactTari AlbrightDirector of Marketing Communicationstalbright@ About Girbau North America – an EVI Industries Inc. Strategic Laundry Solutions CompanyGirbau North America, in Oshkosh, Wis., is a comprehensive strategic laundry solutions company serving the vended, commercial and industrial laundry and textile care markets throughout North America. Services under the GNA umbrella include customer marketing via Girbau Creative Services (GCS); financing through CustomSelect; and distribution through partner distributors and Continental Girbau West (CG West), which serves Arizona, New Mexico and Southern California. GNA also provides product warehousing for quick availability, parts for most brands, technical service assistance, customer care and the industry's most comprehensive offering of commercial laundry solutions to customers throughout North America. GNA brands include: • Continental Girbau® • Girbau Industrial® • Poseidon Textile Care Systems® • Express Laundry Centers® • Sports Laundry Systems® • OnePress® About EVI Industries through its wholly owned subsidiaries, is a value-added distributor and a provider of advisory and technical services. Through its vast sales organization, the EVI provides customers with planning, designing, and consulting services related to their commercial laundry operations. EVI sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, EVI sells related parts and accessories. Additionally, through EVI's robust network of commercial laundry technicians, it provides its customers with installation, maintenance and repair services. EVI's customers include retail, commercial, industrial, institutional and government customers. Purchases made by customers range from parts and accessories to single or multiple units of equipment, to large complex systems as well as the purchase of EVI's installation, maintenance, and repair services. View original content to download multimedia: SOURCE Girbau North America Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
EVI Industries' Q3 Earnings Rise Year Over Year, Stock Up 11%
Shares of EVI Industries, Inc. EVI have gained 11.2% since the company reported its earnings for the quarter ended March 31, 2025, outpacing the S&P 500's 4% rise during the same period. However, over the past month, EVI stock trailed the broader market, climbing 8.8% compared with the S&P 500's 11.2% gain, reflecting some divergence in short-term sentiment despite solid quarterly results. For the fiscal third quarter ended March 31, 2025, EVI reported earnings per share of 7 cents, up from 6 cents in the prior-year quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.) The company reported an 11% year-over-year increase in revenues to $93.5 million from $84 million. Gross profit also rose 9% to a record $28.1 million from $25.8 million, although gross margin slipped slightly to 30% from 30.7%. Net income came in at $1 million, a modest increase from $0.96 million a year earlier. Adjusted EBITDA rose to $5.1 million from $4.9 million, though EBITDA margin dipped to 5.4% from 5.9%, as the company absorbed increased operating expenses tied to its growth initiatives. EVI Industries, Inc. price-consensus-eps-surprise-chart | EVI Industries, Inc. Quote EVI's continued investment in personnel and technology influenced its expense structure. Selling, General and Administrative (SG&A) expenses rose 10% in the quarter to $25.8 million, driven by higher commissionable sales, recent acquisitions and one-time charges related to its largest-ever acquisition. Despite these pressures, cash flow from operations stood strong at $9.1 million, contributing to a $5.9 million, or 25%, reduction in net debt compared to the prior quarter. Management underscored progress in EVI's digital transformation initiative, including substantial completion of its field service technology rollout and further development of a proprietary e-commerce platform and customer relationship management system. These efforts aim to enhance efficiency and customer experience across its 425-person service team, reportedly the largest in the commercial laundry industry. Leadership remains committed to disciplined financial management while maintaining a growth-oriented culture backed by strategic investments. Revenue growth was fueled by steady, repeatable unit sales across both On-Premise Laundry (OPL) and Vended verticals. The company noted an increase in average selling prices for Vended units, aligning with broader market trends. However, the average selling price for OPL units declined, as smaller machine sales outpaced larger systems. Notably, sales from large industrial projects made up a smaller portion of the mix this quarter. Still, management indicated that the backlog of signed large projects remains healthy, supporting future revenue visibility. In a significant post-quarter move, EVI completed its acquisition of Girbau North America, Inc. (GNA) on April 1, 2025. The deal, announced in early March, represents the largest in EVI's history and is expected to materially increase both revenue and operating profit. GNA, a master distributor with strong supplier relationships and operational infrastructure, brings enhanced scale to EVI's platform. In addition to GNA, the company completed three other acquisitions during the nine-month period, expanding its geographic footprint in Illinois, Florida and Indiana. These moves reinforce EVI's buy-and-build strategy and support its stated goal of becoming the market leader in North American commercial laundry distribution and service. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EVI Industries, Inc. (EVI): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Business Wire
12-05-2025
- Business
- Business Wire
EVI Industries Reports Record Results for the Three and Nine-Month Periods Ended March 31, 2025
MIAMI--(BUSINESS WIRE)--EVI Industries, Inc. (NYSE American: EVI) announced today its operating results for the three and nine-month periods ended March 31, 2025, which included certain record results. The Company also provided commentary on its results of operations, cash flow and financial position, its acquisition of Girbau North America, Inc. (GNA), which was completed following quarter-end, and investments in furtherance of its technology initiatives. Click here to listen to the Company's recorded earnings call. Since 2016, EVI has established itself as a leader in the highly fragmented North American commercial laundry distribution and service industry by thoughtfully executing the Company's long-term growth strategy, which has resulted in a compounded annual growth rate in revenue, net income and adjusted EBITDA of 31%, 18% and 28%, respectively. EVI believes that its strong fundamentals, including its disciplined financial management, targeted market strategy, entrepreneurial culture, commitment to innovation, and strong supplier relationships, collectively provide a solid foundation for continued growth. Company Highlights for the Nine-Month Period Ended March 31, 2025 Completed three acquisitions, and subsequently, on April 1, 2025, EVI completed the GNA acquisition Substantially completed the implementation of EVI's field service technology Surpassed planned milestones in development and deployment of EVI's digital commerce solution Confirmed customer sales order contracts exceeded the value of those fulfilled during the period Sustained a strong balance sheet while investing in growth, working capital, and advanced technologies Three-Month Results (compared to the three-months ended March 31, 2024) Revenue increased 11% to $93.5 million compared to $84.0 million Gross profit increased 9% to a record $28.1 million Gross margin was 30.0% compared to 30.7% Operating income was $2.3 million compared to $2.4 million Net income increased to $1.0 million, or 1.1%, compared to $0.96 million, or 1.1% Adjusted EBITDA increased to $5.1 million, or 5.4%, compared to $4.9 million, or 5.9% Cash flow from operations was $9.1 million Nine-Month Results (compared to the nine months-ended March 31, 2024) Revenue increased 6% to a record $280 million Gross profit increased 8% to a record $84.4 million Gross margin increased to a record 30.2% compared to 29.6% Operating income increased to $9.7 million compared to $8.0 million Net income increased to $5.4 million, or 1.9%, compared to $3.6 million, or 1.4% Adjusted EBITDA increased to $17.8 million, or 6.4%, compared to $16.4 million, or 6.2% Cash flow from operations was $11.3 million Acquisitions On March 3, 2025, EVI entered into a definitive agreement to acquire GNA, a master distributor of commercial laundry products based in Oshkosh, WI. The transaction closed on April 1, 2025, marking a significant milestone in EVI's strategy to strengthen its leadership in the North American commercial laundry industry. Widely respected for its strong distributor relationships and superior operational infrastructure, GNA brings a powerful platform for accelerated growth. The acquisition enhances EVI's ability to scale rapidly and efficiently, combining GNA's operational excellence with EVI's strategic and financial resources to drive long-term value across the industry. The acquisition of GNA complements EVI's ongoing buy-and-build strategy. In addition to GNA, EVI completed the acquisition of Huntley, IL-based Haiges Machinery, along with two other distributors in Florida and Indiana—expanding its footprint in key regions and reinforcing its commitment to long-term investment, customer-centric growth, and market leadership. Comments on the Three- and Nine-Month Periods During the three and nine-month periods ended March 31, 2025, revenue increased 11% and 6%, respectively, amid sustained gross margins that drove contribution profits which facilitated the Company's continued investment in additional sales and service personnel as well as new technologies as part of EVI's digital transformation initiative, as described in further detail below. Revenue growth reflects the Company's consistent execution in its core business—characterized by steady, repeatable sales. Unitary sales across both On-Premise Laundry (OPL) and Vended customer verticals increased in line with total revenue growth. Additionally, the average selling price for Vended units rose, reflecting broader market pricing trends. While OPL unit volumes were also higher, the average selling price declined due to a shift in sales mix, with a greater proportion of smaller machines sold when compared to prior periods. Sales from larger industrial projects made up a smaller proportion of overall sales mix as compared to prior periods. However, signed large deals remained strong and reflect a meaningful balance of the Company's sales backlog. Despite this change in mix, gross margins remained solid, supported by the broader product portfolio and the effectiveness of the Company's sales team in communicating the value of purchasing from a partner committed to enhancing the customer experience through investments in technology, inventory availability, and service quality. These strategic investments, however, contributed to higher operating costs. Selling, General and Administrative expenses increased 10% and 7% for the three- and nine-month periods, respectively. This was driven by a higher proportion of commissionable sales, integration of G&A from three acquired businesses, ongoing technology investments, and $0.3 million in one-time charges related to the Company's largest-ever acquisition, which was completed shortly after the end of the reporting period. Technology Investments Since its commencement of a comprehensive digital transformation initiative in 2020, EVI has been strategically evolving into a modern, data-driven enterprise with a goal of developing and deploying technologies focused on efficiency gains and delivering superior customer service. Leveraging a significantly expanded internal technology team and specialized third-party partners, EVI substantially consolidated disparate operating systems into a unified Enterprise Resource Planning (ERP) infrastructure and deployed an advanced Field Service Management (FSM) platform utilized by over 425 highly trained service professionals—the largest such team in the industry. Simultaneously, EVI is actively developing a next-generation Customer Relationship Management (CRM) platform and a state-of-the-art e-commerce solution. These technologies directly support the Company's core objective, which includes transforming the customer experience through exceptional technical installation and maintenance services across North America. While short-term financial results reflect the cost of these initiatives, the Company believes that this advanced technology infrastructure will be a key driver of long-term growth, customer loyalty, and profitability. Cash Flow, Financial Strength, and Liquidity: A core tenant of EVI's long-term growth strategy includes maintaining a healthy balance sheet that allows for strategic investments in new growth opportunities as they arise. The Company's strong financial position has been pivotal to its ability to make investments regardless of macroeconomic or industry conditions. During the three-month period ended March 31, 2025, operating activities produced cash of $9.1 million resulting in a $5.9 million, or 25%, decrease in net debt as compared to December 31, 2024. During the nine-month period ended March 31,2025, operating activities provided cash of $11.3 million. The strong operating cashflows for the three- and nine-month periods reflect the Company's strong cash earnings and disciplined inventory management, partially offset by accounts receivable increases from increased sales. As of March 31, 2025, the Company maintained over $175 million in available liquidity provided by its revolving credit facility, which was amended during March 2025 to increase the total potential availability under the credit Agreement by $60 million to $200 million and extend the maturity date from May 2027 to March 2030. Important Fundamentals and Growth Drivers The Company believes that the essential nature of commercial laundry products and continuous demand and growth across end-user markets of the commercial laundry industry are catalysts for a growing installed base of commercial laundry systems across North America. These systems require advanced planning, thoughtful design, knowledgeable installation, and post-installation services, including the replacement of equipment, parts, and accessories and the performance of maintenance and repair services. The Company's large and growing sales and service network represents and services a broad range of products sourced from various domestic and international suppliers to support industrial, on-premise, vended, and multi-family customers serving a wide array of end-user categories. The Company believes its fundamentals, financial strength, market strategy, entrepreneurial culture, technology initiatives, and strong supplier relations are important competitive advantages that will continue to support the Company's ability to grow profitability and capture market share going forward. EVI's Core Principles EVI upholds specific core values and principles for its business, including: Earnings Call and Additional Information The Company has provided a pre-recorded earnings conference call, including a business update, which can be accessed under 'Financial Info' in the 'Investors' section of the Company's website at or by visiting For additional information regarding the Company's results for the three and nine months ended March 31, 2025, please see the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as filed with the Securities and Exchange Commission on or about the date hereof. Use of Non-GAAP Financial Information In this press release, EVI discloses the non-GAAP financial measure of adjusted EBITDA, which EVI defines as earnings before interest, taxes, depreciation, amortization, and amortization of stock-based compensation. Adjusted EBITDA is determined by adding interest expense, income taxes, depreciation, amortization, and amortization of stock-based compensation to net income, as shown in the attached statement of Condensed Consolidated Earnings before Interest, Taxes, Depreciation, Amortization, and Amortization of Stock-based Compensation. EVI considers adjusted EBITDA to be an important indicator of its operating performance. Adjusted EBITDA is also used by companies, lenders, investors and others because it excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be dependent on a company's capital structure, debt levels and credit ratings, and the tax positions of companies can vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the jurisdictions in which they operate. Adjusted EBITDA should not be considered as an alternative to net income or any other measure of financial performance or liquidity, including cash flow, derived in accordance with GAAP, or to any other method of analyzing EVI's results as reported under GAAP. About EVI Industries EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and a provider of advisory and technical services. Through its vast sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company's robust network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company's customers include retail, commercial, industrial, institutional, and government customers. Purchases made by customers range from parts and accessories to single or multiple units of equipment, to large complex systems as well as the purchase of the Company's installation, maintenance, and repair services. Safe Harbor Statement Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as 'may,' 'should,' 'could,' 'seek,' 'believe,' 'expect,' 'anticipate,' 'estimate,' 'project,' 'intend,' 'strategy' and similar expressions are intended to identify forward looking statements. Forward looking statements may relate to, among other things, events, conditions, and trends that may affect the future plans, operations, business, strategies, operating results, financial position and prospects of the Company. Forward looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of the Company, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward looking statements. These risks and uncertainties include, among others, those associated with: general economic and business conditions in the United States and other countries where the Company operates or where the Company's customers and suppliers are located; economic uncertainty, including as it relates to governmental measures such as the imposition of tariffs and their effect on global trading markets, the availability and pricing of products, credit markets, industry conditions, economic conditions generally or otherwise on the Company and its business and results; the potential of a recession; industry conditions and trends; credit market volatility; risks related to supply chain delays and disruptions and their impact on the Company's business and results, including the Company's ability to deliver products and services to its customers on a timely basis; risks relating to inflation, including the current inflationary trend, and other price increases (including due to the imposition of tariffs), and their impact on the Company's costs and results (including that, if desired, the Company may not be able to successfully increase the price of its products and services to offset such costs, in whole or in part, and that price increases may result in reduced demand for the Company's products and services); risks related to labor shortages and increases in the costs of labor, and the impact thereof on the Company, including its ability to deliver products, provide services or otherwise meet customers' expectations; risks related to interest rate increases, including the impact thereof on the cost of the Company's indebtedness and the Company's ability to raise capital if deemed necessary or advisable; risks associated with international relations and international hostilities, and the impact thereof on economic conditions, including supply chain constraints and inflationary trends; the Company's ability to implement its business and growth strategies and plans, including changes thereto; risks and uncertainties associated with the Company's 'buy-and-build' growth strategy, including, without limitation, that the Company may not be successful in identifying or consummating acquisitions or other strategic transactions, integration risks, risks related to indebtedness incurred by the Company in connection with the financing of acquisitions and other strategic transactions, dilution experienced by the Company's existing stockholders as a result of the issuance of shares of the Company's common stock in connection with acquisitions or other strategic transactions (or for other purposes), risks related to the business, operations and prospects of acquired businesses, risks that suppliers of the acquired business may not consent to the transaction or otherwise continue its relationship with the acquired business following the transaction and the impact that the loss of any such supplier may have on the results of the Company and the acquired business, risks that the Company's goals or expectations with respect to acquisitions, including the anticipated benefits of the acquisition of GNA, and other strategic transactions may not be met, and risks related to the accounting for acquisitions; risks that investments, initiatives and expenses, including, without limitation, investments in acquired businesses, personnel and technology expenses (including those associated with the Company's ERP infrastructure and FSP and CRM platforms), and other investments, initiatives and expenses, may not result in the benefits anticipated; risks relating to the impact of pricing concessions and other measures which the Company may take from time to time in connection with its expansion efforts and pursuit of market share growth, including that they may not be successful and may adversely impact the Company's gross margin and other financial results; technology changes; competition, including the Company's ability to compete effectively and the impact that competition may have on the Company and its results, including the prices which the Company may charge for its products and services and on the Company's profit margins, and competition for qualified employees; risks relating to the Company's relationships with its principal suppliers and customers, including the impact of the loss of any such relationship; risks related to the Company's indebtedness, including that availability under the Company's credit facility is subject to the terms and conditions of the facility; the availability, terms and deployment of debt and equity capital if needed for expansion or otherwise; risks of cybersecurity threats or incidents, including the potential misappropriation or use of assets or confidential information, corruption of data or operational disruptions; the risk that orders in the Company's backlog may not be fulfilled as or when expected; and risks that the Company's decentralized operating model, and that product, end-user and geographic diversity, may not result in the benefits anticipated and may change over time. In addition, while the acquisition of GNA was completed on April 1, 2025, the pro forma information set forth in this press release with respect to the acquisition of GNA gives effect to the acquisition as if it was completed on January 1, 2024. Further, such pro forma information reflects adjustments based on currently available information and assumptions which management believes are reasonable under the circumstances but may not prove to be accurate. Accordingly, such pro forma information is presented for informational purposes only and is not necessarily indicative of what EVI's results would have been had the acquisition of GNA been completed on the date assumed, nor does it purport to project the financial condition or operating results of EVI for any future period or as of any future date. Reference is also made to the other economic, competitive, governmental, technological and other risks and factors discussed in the Company's filings with the SEC, including, without limitation, in the 'Risk Factors' section of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2024. Many of these risks and factors are beyond the Company's control. Further, past performance and perceived trends may not be indicative of future results. The Company cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. The Company does not undertake to, and specifically disclaims any obligation to, update, revise or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law. EVI Industries, Inc. Condensed Consolidated Balance Sheets (in thousands, except per share data) Unaudited 3/31/25 6/30/24 Assets Current assets Cash $ 5,913 $ 4,558 Accounts receivable, net 49,434 40,932 Inventories, net 49,500 47,901 Vendor deposits 2,757 1,657 Contract assets 133 1,222 Other current assets 7,416 5,671 Total current assets 115,153 101,941 Equipment and improvements, net 14,959 13,950 Operating lease assets 8,394 8,078 Intangible assets, net 23,773 22,022 Goodwill 80,269 75,102 Other assets 9,242 9,566 Total assets $ 251,790 $ 230,659 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $ 35,585 $ 30,904 Accrued employee expenses 11,833 11,370 Customer deposits 25,260 24,419 Current portion of operating lease liabilities 3,546 3,110 Total current liabilities 76,224 69,803 Deferred income taxes, net 5,555 5,498 Long-term operating lease liabilities 5,804 5,849 Long-term debt, net 24,000 12,903 Total liabilities 111,583 94,053 Shareholders' equity Preferred stock, $1.00 par value - - Common stock, $.025 par value 324 322 Additional paid-in capital 110,022 106,540 Treasury stock (5,130) (4,439) Retained earnings 34,991 34,183 Total shareholders' equity 140,207 136,606 Total liabilities and shareholders' equity $ 251,790 $ 230,659 Expand EVI Industries, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) For the nine months ended 3/31/25 3/31/24 Operating activities: Net income $ 5,401 $ 3,579 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,734 4,492 Amortization of debt discount 54 26 Provision for expected credit losses 733 493 Non-cash lease expense 75 51 Stock compensation 3,428 3,956 Inventory reserve 864 257 Provision for deferred income taxes 57 130 Other (105) 25 (Increase) decrease in operating assets: Accounts receivable (8,549) 3,107 Inventories 941 6,512 Vendor deposits (1,100) 105 Contract assets 1,089 183 Other assets (1,189) 1,899 (Decrease) increase in operating liabilities: Accounts payable and accrued expenses 4,172 (9,583) Accrued employee expenses 463 (157) Customer deposits 257 5,869 Contract liabilities - (668) Net cash provided by operating activities 11,325 20,276 Investing activities: Capital expenditures (3,162) (3,654) Cash paid for acquisitions, net of cash acquired (12,580) (987) Net cash used by investing activities (15,742) (4,641) Financing activities: Dividends paid (4,593) (4,071) Proceeds from borrowings 54,000 49,500 Debt repayments (43,000) (62,500) Repurchases of common stock in satisfaction of employee tax withholding obligations (691) (1,244) Issuances of common stock under employee stock purchase plan 56 63 Net cash provided (used) by financing activities 5,772 (18,252) Net increase (decrease) in cash 1,355 (2,617) Cash at beginning of period 4,558 5,921 Cash at end of period $ 5,913 $ 3,304 Expand
