EVI Q1 Earnings Decline Y/Y on High Costs, Stock Down 18%

EVI Industries Inc (EVI) shares rose 8.5% after its board approved a share repurchase program authorizing buybacks of up to $10 million of outstanding common stock. Repurchases may occur via open-market or negotiated transactions, including Rule 10b5-1 plans, at management’s discretion. The program has no expiration and can be modified or terminated.

EVI Industries agreed to acquire privately held Sudsies, Inc. to launch a consumer garment care division. EVI said the deal should close promptly and be accretive to FY ending June 30, 2027. Sudsies reported about $21.7M revenue and $4.7M operating income for the 12 months ended June 30, and EVI shares closed at $16.52.

The article cites three long-term drivers for uranium stocks: World Nuclear Association projects global uranium demand up about 28% by 2030; Mining.com says output from existing mines could be cut in half after 2030, requiring new supply; and the Trump administration added uranium to the U.S. critical minerals list. Eastport Critical Metals reported assay results from its Foley project in Botswana, including uranium mineralisation (>200 ppm U3O8) in 6 of 10 RC holes over a 1.4 km strike length.

Albertsons Companies said it is voluntarily recalling four ready-to-eat products containing jalapeños supplied by Taylor Farms, including items sold at Randalls in Texas. The recall followed a supplier recall tied to an ongoing federal investigation and an FDA probe of a Salmonella Javiana outbreak. FDA reported 345 illnesses in 27 states, 36 hospitalizations, no deaths.

U.S. health authorities are investigating a Salmonella outbreak linked to Mexican jalapeño peppers. The CDC and FDA say 345 people are ill across 27 states, with 36 hospitalizations and no deaths. The supplier, Coast Citrus Distributors, recalled peppers sent to restaurants including Chipotle and QDOBA. Chipotle removed jalapeños from some outlets and shares fell over 8% on Aug. 4.

Realty Income (NYSE: O) says it began investing in data centers in late 2023 via a build-to-suit JV with Digital Realty, buying an 80% stake in an up to 48 MW facility. It also formed a hyperscale JV with Cloud Capital, targeting up to $1.4B investment for a 45% stake. Realty Income raised 2024 AFFO guidance to $4.44-$4.45/share and investment outlook to $10B.