Welcome to our dedicated page for Myers Industries news (Ticker: MYE), a resource for investors and traders seeking the latest updates and insights on Myers Industries stock.
Myers Industries, Inc., founded in 1933 in Akron, Ohio, is a leading manufacturer of polymer products for material handling and a distributor of tire retread and repair products. Serving diverse markets from agriculture to medical and automotive to commercial, Myers Industries operates under two key segments: Material Handling and Distribution.
In the Material Handling segment, Myers Industries is renowned for its reusable boxes, bins, and pallets that replace disposable packaging, thus reducing waste and cost. The company also supplies fuel, waste, and water tanks for various applications, including marine, RV, and military. Notable products in this segment include plastic reusable bulk boxes, storage bins, metal shelving systems, and portable fuel containers.
The Distribution segment focuses on tools, equipment, and supplies essential for tire, wheel, and under-vehicle services. This division caters to a wide range of vehicles from passenger cars to heavy trucks and off-road vehicles.
Myers Industries' innovative solutions serve key markets such as agriculture, food and beverage, industrial, retail, consumer distribution, healthcare, manufacturing, marine, and recreational vehicles. With a diversified portfolio and a commitment to quality, the company continues to expand its footprint and impact across North America.
Recent achievements highlight Myers Industries' strategic initiatives and growth. The company's ongoing projects and partnerships reflect its dedication to innovation and sustainability in the manufacturing sector. As of the latest reports, Myers Industries generates the majority of its revenue from the Material Handling segment, showcasing its strength and expertise in this area.
For those seeking the latest updates and relevant information about Myers Industries, including performance, events, and developments, keeping an eye on recent news and financial reports is essential.
Myers Industries (NYSE: MYE) reported Q2 2024 results with net sales of $220.2 million, up 5.7% year-over-year. Net income was $10.3 million, slightly down from $10.6 million in Q2 2023. Adjusted EBITDA increased significantly to $38.9 million, compared to $24.7 million last year. The company's gross margin improved to 34.3%, up 150 basis points.
Despite strong performance from Signature Systems, Myers lowered its full-year guidance due to continued demand pressure in Recreational Vehicle, Marine, and Automotive Aftermarket end markets. The company now expects adjusted EPS of $1.05 - $1.20 for 2024. Myers is executing cost reduction initiatives, including facility consolidations, targeting $7M-$9M in annualized savings by 2025.
Myers Industries (NYSE: MYE) will release its Q2 2024 financial results on August 1, 2024, before the market opens. A conference call to review the performance is scheduled for the same day at 8:30 a.m. Eastern Time. Investors can register for the call or access a live webcast through the company's website. An archived replay will be available shortly after the call. Myers Industries is a leading manufacturer of polymer products and the largest distributor of tools and supplies for the tire and under-vehicle service industry in the U.S.
Myers Industries (NYSE: MYE) has announced its reporting date and conference call for 2024 second quarter results. The company will release financial results on Thursday, August 1, 2024, before the market opens, followed by a conference call at 8:30 a.m. Eastern Time.
Investors and analysts can access the call by registering through a provided participation link. Alternatively, a live webcast will be available on the company's website. An archived replay of the call will be accessible shortly after the event, with dial-in numbers provided for telephone replay.
Myers Industries is a leading manufacturer of polymer products for various markets and the largest distributor of tools and equipment for the tire and vehicle service industry in the U.S.
Myers Industries (NYSE: MYE) has announced a quarterly cash dividend of $0.135 per share.
This dividend will be payable on July 5, 2024, to shareholders of record as of June 18, 2024.
Myers Industries is a prominent manufacturer of polymer and metal products for various markets, including industrial, agricultural, automotive, and consumer sectors.
The company is also the largest U.S. distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry.
Myers Industries Inc. announced first quarter 2024 results with net sales of $207.1 million, GAAP gross margin of 31.0%, and adjusted earnings per diluted share of $0.21. The newly acquired Signature Systems delivered strong results due to Infrastructure tailwinds. Management maintains full-year outlook at lower end of earnings-per-share range, focusing on EBITDA improvement and executing five-year roadmap.
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