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. reports company news tied to its role as a manufacturer of sustainable plastic and metal products for Consumer, Vehicle, Food & Beverage, Industrial, Infrastructure, and Automotive Aftermarket end markets. Its Products that Protect portfolio includes durable products and solutions used in material handling, storage, organization, OEM applications, and related industrial uses.
Recurring developments include quarterly and annual earnings, single-segment financial reporting, focused transformation initiatives, manufacturing cost actions, cash flow and leverage updates, dividends, annual meeting matters, and board composition. Company updates also address changes in financial presentation, end-market demand, raw material and production-cost risks, and governance actions approved by shareholders or the board.
Myers Industries (NYSE: MYE) will report its first-quarter financial results for the period ended March 31, 2021, on May 6, 2021, before market opening. A conference call to discuss the performance is scheduled for the same day at 8:30 a.m. ET. Investors can join the call through a registration link or via a live webcast on the company’s website. A replay of the teleconference will be available until May 13, 2021. Myers Industries is a leading manufacturer of polymer products and the largest distributor of tire service industry supplies in the U.S.
Myers Industries (NYSE: MYE) has announced a price increase of 9% to 12% on most products in its Material Handling Segment, effective April 1, 2021. This follows a prior increase of 8% on March 1, 2021, due to rising raw material costs, particularly for resin and steel. The price adjustments impact products sold by brands including Akro-Mils, Ameri-Kart, and Scepter, reflecting ongoing challenges in raw material procurement.
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.