Myers Industries (NYSE:MYE) Issues Quarterly Earnings Results

Myers Industries (NYSE:MYE) posted its quarterly earnings results on Thursday. The industrial products company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13), FiscalAI reports. Myers Industries had a net margin of 4.86% and a return on equity of 19.86%. The firm had revenue of $171.34 million during the quarter, compared to analyst estimates of $163.80 million. During the same period last year, the company earned $0.19 EPS.

Here are the key takeaways from Myers Industries’ conference call:

• Third-quarter revenue increased 8.1% year over year, led by 38% growth in infrastructure and 12% growth in food and beverage; excluding exited low-margin products, revenue growth was 10.4%.
• Adjusted gross margin fell 360 basis points to 28.2% because of a 76% spike in resin costs, unfavorable mix, and unplanned maintenance. Management expects pricing actions and stabilized resin costs to drive significant sequential margin improvement in the fourth quarter.
• The Myers Tire Supply divestiture reduced net debt by $28.5 million, lowering net leverage to 1.86 times, while year-to-date free cash flow rose 29% to $61.9 million.
• Management raised its food and beverage outlook to strong growth and expects infrastructure to maintain strong growth, while Signature is projected to deliver mid- to high-teens annual revenue growth through 2029 through composite-mat conversion, new products, and capacity expansion.
• The company lowered its vehicle-market outlook from stable to down, citing declining RV demand, higher interest rates and fuel prices, weak consumer confidence, and delayed automotive OEM launches; military demand is also expected to face near-term timing-related headwinds.

Myers Industries Price Performance

Shares of MYE traded down $1.93 during trading hours on Thursday, hitting $30.27. The stock had a trading volume of 943,315 shares, compared to its average volume of 239,245. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 31.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.21. The company’s fifty day moving average is $31.54 and its two-hundred day moving average is $26.50. Myers Industries has a 52 week low of $16.46 and a 52 week high of $37.45.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Friday, December 4th will be issued a $0.1350 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $0.54 annualized dividend and a dividend yield of 1.8%. Myers Industries’s dividend payout ratio is presently 55.67%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MYE. Weiss Ratings raised shares of Myers Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Wall Street Zen downgraded shares of Myers Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Myers Industries News Summary

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Myers Industries reported third-quarter revenue of approximately $171.3 million, up 8.1% year over year and above the $163.8 million analyst consensus. Infrastructure revenue rose 38%, while Food & Beverage revenue increased 12%. Myers Industries Revenue Rises 8.1% to $171.3 Million in Third Quarter
• Positive Sentiment: The company expects significant sequential margin improvement in the fourth quarter as pricing actions take effect and resin costs stabilize. Operating cash flow was $17.4 million, and total liquidity stood at $254.7 million. Myers Industries Announces 2026 Third Quarter Results
• Positive Sentiment: Myers outlined plans to expand Signature capacity by 30% in 2027 and another 30% in 2029, targeting approximately $60 million in incremental revenue through 2029. Myers outlines Signature capacity expansions
• Negative Sentiment: Adjusted third-quarter EPS was $0.32, below the $0.45 consensus estimate. Gross profit fell 5.0% to $46.8 million, gross margin contracted to 27.3% from 31.1%, and the company recorded a $0.9 million net loss versus $7.1 million of net income a year earlier. Myers Industries Slips to Loss in Q3

Myers Industries Company Profile

Myers Industries, Inc is a manufacturer and distributor of products serving industrial, agricultural, automotive, commercial and consumer markets. Founded in 1933 and headquartered in Akron, Ohio, the company operates primarily in North America.

Through its material-handling businesses, Myers Industries produces reusable plastic containers, totes, pallets, drums, tanks and other molded products. These products are used to store, transport and protect materials across industries such as manufacturing, food processing, agriculture, healthcare and logistics.

The company also distributes tire-service supplies, equipment and related products to tire dealers, retreaders, commercial fleets and automotive service providers.