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Myers Industries, Inc. - MYE STOCK NEWS

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.

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Myers Industries, Inc. (NYSE: MYE) announced the acquisition of Signature Systems, a leader in composite ground protection solutions, to bolster its margin and profitability profile. The acquisition is projected to deliver $8 million in annualized operational and cost synergies by 2025, with US GAAP EPS projected to be flat to slightly dilutive in 2024, and $0.20 - $0.30 per share accretion in 2025, $0.40 - $0.50 per share accretion in 2026, and additional meaningful accretion beyond 2026.
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Myers Industries, Inc. (NYSE: MYE) announced the appointment of Meghan Beringer as Senior Director of Investor Relations. Beringer brings twenty years of leadership experience and a strong network from her previous roles in the utility and banking industries. She will focus on driving transparency in communications with the investment community, reporting to Grant Fitz, Chief Financial Officer.
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Myers Industries, Inc. reported net sales of $197.8 million for Q3 2023, a decrease of 13.3% compared to the prior year period. Gross margin increased by 10 basis points to 31.5%. GAAP net income per diluted share was $0.34, while adjusted earnings per diluted share were $0.38. Cash flow provided by operations was $22.1 million and free cash flow was $18.1 million. The Material Handling segment saw a decrease in net sales and operating income, while the Distribution segment experienced a decrease in net sales but an increase in operating income. The company's cash on hand was $24.8 million and total debt was $69.3 million as of September 30, 2023. The company revised its outlook for fiscal 2023, expecting a decline in net sales and adjusted earnings per diluted share.
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Myers Industries, Inc. (NYSE: MYE) approves quarterly cash dividend of $0.135 per share.
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Myers Industries, Inc. announces its participation in two upcoming investor conferences.
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Myers Industries, Inc. will report Q3 2023 financial results on November 1, 2023, before the market opens. A conference call will be held at 8:30 a.m. ET to review performance.
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Myers Industries, Inc. approves quarterly cash dividend of $0.135 per share.
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FAQ

What is the current stock price of Myers Industries (MYE)?

The current stock price of Myers Industries (MYE) is $11.7 as of November 20, 2024.

What is the market cap of Myers Industries (MYE)?

The market cap of Myers Industries (MYE) is approximately 405.6M.

What does Myers Industries, Inc. do?

Myers Industries manufactures polymer products for material handling and distributes tire retread and repair products.

What are the key segments of Myers Industries?

The key segments are Material Handling and Distribution.

Where is Myers Industries headquartered?

Myers Industries is headquartered in Akron, Ohio.

When was Myers Industries founded?

Myers Industries was founded in 1933.

What markets does Myers Industries serve?

Myers Industries serves markets including agriculture, medical, automotive, food and beverage, industrial, retail, healthcare, manufacturing, marine, and recreational vehicles.

What products are included in the Material Handling segment?

The Material Handling segment includes reusable boxes, bins, pallets, fuel tanks, water tanks, and portable fuel containers.

What does the Distribution segment of Myers Industries offer?

The Distribution segment offers tools, equipment, and supplies for tire, wheel, and under-vehicle services.

What recent achievements has Myers Industries accomplished?

Recent achievements include strategic initiatives and growth in the company's market presence and product innovation.

Where can I find the latest news about Myers Industries?

You can find the latest news and updates on Myers Industries' official website and financial news platforms.

Which segment generates the majority of Myers Industries' revenue?

The Material Handling segment generates the majority of Myers Industries' revenue.

Myers Industries, Inc.

NYSE:MYE

MYE Rankings

MYE Stock Data

405.57M
36.63M
1.7%
93.29%
2.59%
Packaging & Containers
Plastics Products, Nec
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United States of America
AKRON