Myers Inds Stock Price, News & Analysis

Myers Industries, Inc. (NYSE: MYE) announced the acquisition of Step2 Co, LLC's rotational molding manufacturing assets located in Decatur, Indiana, enhancing its production capabilities.

This strategic move supports Myers' Material Handling Segment, allowing for increased capacity and service in the southern U.S. market.

CEO Mike McGaugh emphasized this acquisition as a key step in achieving their long-term growth strategy, marking the third investment in rotational molding within two years.

Myers Industries (NYSE: MYE) reported a 29% increase in net sales to $225.5 million for Q1 2022 compared to Q1 2021, driven by strong performance in the Material Handling and Distribution segments. Net income rose 135% to $0.47 per share, with adjusted earnings increasing 127% to $0.50 per share. The company raised its 2022 outlook, expecting adjusted EPS between $1.30 and $1.50. Improved gross profit margins of 31.9% reflect effective pricing strategies despite rising raw material costs. Cash flow from operations was $7.3 million, indicating solid financial health.

Myers Industries, Inc. (NYSE: MYE) will report its financial results for Q1 2022 on May 5, 2022, before the market opens. A conference call to discuss the performance will occur at 8:30 a.m. ET on the same day. Investors can join the call via online registration or through a live webcast on the company's website. An archived replay will be available shortly after the event. Myers Industries is a leading manufacturer of polymer products and a major distributor of tools for the tire and under-vehicle service industry in the U.S.

Myers Industries, Inc. (NYSE: MYE) announced price increases effective April 18, 2022, affecting a majority of its Material Handling Segment products. This decision is primarily driven by record inflation and escalating costs in raw materials, freight, energy, fuel, labor, and corrugated packaging. The company's portfolio includes brands such as Akro-Mils and Scepter. The price hike aims to offset increased operational costs and maintain profitability amid challenging economic conditions.

Myers Industries, Inc. (NYSE: MYE) reported a 45% increase in fourth-quarter net sales to $199.6 million, driven by strong organic growth of 28%. For the full year, net sales rose 49% to $761.4 million. Despite a 150% increase in quarterly net income per diluted share to $0.20, annual net income per diluted share decreased by 10% to $0.92, affected by prior-year sales from an asset sale. Adjusted EBITDA for Q4 grew 55% to $17.6 million. The company anticipates strong revenue growth and profitability for fiscal 2022, projecting higher sales and earnings per share, supported by acquisitions and operational strategies.

Myers Industries, Inc. (NYSE: MYE) has announced a quarterly cash dividend of $0.135 per share. This dividend is payable on April 4, 2022 to shareholders who are on record as of March 17, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders while maintaining a strong financial position in the polymer products industry.

Myers Industries, Inc. (NYSE: MYE) has announced it will report its financial results for Q4 and the full year ending December 31, 2021, on March 10, 2022, before market open. A conference call for investors and analysts will follow at 8:30 a.m. ET to discuss performance. The Company also scheduled its Annual Meeting of Shareholders virtually for April 28, 2022, at 9:00 a.m. ET, with a record date of March 4, 2022. Myers Industries is a leader in manufacturing polymer products across various markets and is the largest U.S. distributor of tire service equipment.

Myers Industries, Inc. (NYSE: MYE) has announced that President and CEO Mike McGaugh, along with CFO Sonal Robinson, will present at the Baird 2021 Global Industrial Conference. The virtual presentation is scheduled for November 11, 2021, from 11:25 to 11:55 a.m. EST. They will discuss the company's strategy and hold one-on-one meetings afterward. Myers Industries is a leading manufacturer of polymer products across various sectors and the largest U.S. distributor of tire and under-vehicle service tools.

Myers Industries (NYSE: MYE) reported a 51.3% increase in net sales for Q3 2021, totaling $200.1 million, driven by acquisitions and strong demand across various markets. However, net income per diluted share decreased to $0.22 from $0.24 year-over-year, reflecting inflationary pressures and margin compression due to rising raw material and labor costs. The company is committed to mitigating these challenges while maintaining high service levels. For 2021, net sales growth is expected to be in the mid-to-high 40% range.