Myers Industries (NYSE:MYE) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Myers Industries (NYSE:MYE) posted its quarterly earnings data on Thursday. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13), FiscalAI reports. The business had revenue of $171.34 million for the quarter, compared to analyst estimates of $163.80 million. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%. During the same quarter last year, the business 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 Trading Down 6.0%

Shares of NYSE MYE traded down $1.93 during trading on Thursday, hitting $30.27. 943,315 shares of the company traded hands, compared to its average volume of 239,245. Myers Industries has a 1 year low of $16.46 and a 1 year high of $37.45. The company has a 50-day moving average price of $31.54 and a 200-day moving average price of $26.50. The firm has a market capitalization of $1.14 billion, a P/E ratio of 31.20 and a beta of 0.83. The company has a quick ratio of 1.21, a current ratio of 1.61 and a debt-to-equity ratio of 0.91.

Myers Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.1350 per share. 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 payout ratio is currently 55.67%.

Key Stories Impacting Myers Industries

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

Analyst Ratings Changes

Several equities analysts recently weighed in on MYE shares. Weiss Ratings upgraded Myers Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Wall Street Zen cut 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.