Welcome to our dedicated page for Myers Inds news (Ticker: MYE), a resource for investors and traders seeking the latest updates and insights on Myers Inds stock.
Myers Industries, Inc. (NYSE: MYE) is an Akron, Ohio-based manufacturer of sustainable plastic and metal products serving Consumer, Vehicle, Food & Beverage, Industrial, Infrastructure, and Automotive Aftermarket end markets. The MYE news feed on Stock Titan aggregates company press releases, earnings announcements, and other public updates that reflect how this diversified industrial business is evolving.
Investors and followers of Myers Industries can use the news stream to monitor developments in its Material Handling and Distribution segments, including performance in key end markets and updates on brands such as Akro-Mils, Buckhorn, Jamco, Scepter, Signature Systems, and Tuff Series. News items also highlight activities at subsidiaries like Elkhart Plastics, which produces Connect-A-Dock floating dock systems and related accessories.
Typical MYE news coverage includes quarterly and annual earnings releases, segment and end-market commentary, dividend declarations, and information about strategic initiatives. Recent communications have discussed a Focused Transformation program, a strategic review of the Myers Tire Supply business in the Automotive Aftermarket Distribution segment, and actions such as consolidating rotational molding production capacity and targeting cost savings in selling, general and administrative expenses.
Corporate governance and leadership updates are also part of the Myers Industries news flow, including board appointments and executive leadership changes, as reported in Current Reports on Form 8-K and accompanying press releases. Product and brand news, such as the launch of new accessories within the Connect-A-Dock line, provide additional insight into how Myers Industries expands and refines its product offerings.
By reviewing the MYE news page, readers can follow how Myers Industries communicates its financial results, portfolio decisions, and product developments across the diverse end markets it serves.
Myers Industries (NYSE: MYE) reported its Q4 and full-year 2020 results, highlighting a 17.7% increase in Q4 net sales to $137.5 million, bolstered by the Elkhart Plastics acquisition. However, annual net sales fell 1% to $510.4 million. GAAP income per diluted share from continuing operations was $0.08 in Q4 and $1.02 for the year. Gross profit margin for Q4 decreased to 29% due to rising costs. The company generated $46.5 million in cash flow from operations and aims for long-term growth with its 'One Myers' strategy.
Myers Industries, a manufacturer of polymer products, announced the appointment of Paul Johnson as the new Business Vice President for its Distribution Segment, effective March 15, 2021. Johnson brings over 30 years of automotive industry experience, previously serving as President of International Brake Industries. His leadership is expected to support Myers' goals of organic growth and operational excellence. The company also expressed gratitude to outgoing VP Chris DuPaul for establishing a strong foundation in the segment.
Myers Industries, Inc. (NYSE: MYE) has declared a quarterly cash dividend of $0.135 per share, scheduled for payment on April 2, 2021. Shareholders must be on record by March 18, 2021 to receive this dividend. Myers Industries operates as a manufacturer of polymer products and is the leading distributor of tools and equipment for the tire and automotive service industries in the U.S.
Myers Industries, Inc. (NYSE: MYE) announced an 8% price increase effective March 1, 2021, across most of its product portfolio. This decision comes as a response to rapidly increasing raw material costs, particularly resin. Key brands affected by this price adjustment include Akro-Mils, Ameri-Kart, Buckhorn, Elkhart Plastics, Jamco Products, Patch Rubber Company, and Scepter.
Myers Industries is a major manufacturer of polymer products and a leader in the distribution of tools and supplies for the tire service industry in the U.S.
Myers Industries (NYSE: MYE) will release its financial results for Q4 and full year ended December 31, 2020, on March 11, 2021, before market opening. This will be followed by a conference call at 8:30 a.m. ET to discuss the performance. Investors can register for the call via a specific online link and it will also be available through a live webcast on the company's website. Additionally, the Annual Meeting of Shareholders is set for April 29, 2021, at 9:00 a.m. ET with a record date of March 5, 2021.
Myers Industries (NYSE: MYE) has appointed Yvette Dapremont Bright and Jeffrey Kramer to its Board of Directors, effective February 12, 2021. Yvette, former COO of Independence Blue Cross, brings expertise in corporate transformation with a background in managing revenues exceeding $6 billion. Jeffrey, CEO of Schweitzer-Mauduit International, is recognized for driving positive organic growth and improving operating margins. Their leadership will enhance Myers’ mission to centralize functions and drive growth, as stated by Chairman F. Jack Liebau, Jr.
Myers Industries, Inc. (NYSE: MYE) has appointed Sonal P. Robinson as Executive Vice President of Finance, effective February 1, 2021. Robinson will later become Chief Financial Officer in March 2021. With over 30 years of experience, she previously worked at The J.M. Smucker Company, where she served as Vice President and Treasurer. President Mike McGaugh expressed confidence in Robinson's leadership abilities and strategic experience in capital markets. Dan Hoehn, the interim CFO since September 2020, will return to his previous role as Vice President and Corporate Controller.
Myers Industries (NYSE: MYE) has announced the acquisition of Elkhart Plastics, a leading rotational molding company, as part of its strategic growth plan. Founded in 1988, Elkhart reported revenues of approximately $100 million in 2019. The acquisition, which will create the fifth-largest rotational molding business in the U.S., is expected to be immediately accretive to earnings and generate annual cost synergies of $4 million to $6 million within two years. This move aims to enhance Myers' product portfolio and supply-chain efficiencies.
Myers Industries, Inc. (NYSE: MYE) announced that CEO Mike McGaugh will present at the Baird 2020 Global Industrial Conference on November 12, 2020, from 9:05 – 9:35 a.m. EST. The virtual conference will include a presentation on the company's strategy, followed by one-on-one meetings with management. Myers Industries is a leading manufacturer of polymer products and the largest distributor of tools and supplies in the tire, wheel, and under-vehicle service industry in the U.S.
Myers Industries (NYSE: MYE) reported a strong performance for Q3 2020, with net sales increasing by 5.4% to $132.3 million and gross margin rising to 35.6%. GAAP income per diluted share rose to $0.24 from $0.15 in Q3 2019, while adjusted income per diluted share was $0.30. The company unveiled a multi-phased strategic vision aimed at organic growth and operational excellence. However, it has revised 2020 revenue expectations to a low-to-mid single-digit decline, reflecting a cautious outlook for Q4. The company's focus is on strengthening through enhanced customer-centric innovations.
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