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) announced that Executive Vice President and CFO Grant Fitz has resigned, effective May 2, 2025. Daniel Hoehn, current Vice President and Corporate Controller, will serve as interim CFO while the company conducts a formal search for a permanent replacement.
The leadership transition is not related to any accounting or financial statement matters. Hoehn, who has been with Myers since 2019, previously served as Interim CFO from September 2020 to March 2021. His experience includes roles as VP, Controller, and Chief Accounting Officer at Babcock & Wilcox Enterprises, and finance leadership positions at Chiquita Brands International.
CEO Aaron Schapper expressed confidence in Hoehn's ability to lead the finance group during the transition period and continue progress on the company's Focused Transformation initiative. The company will report first quarter earnings on May 1, 2025.
Myers Industries (NYSE: MYE) has scheduled its first quarter 2025 financial results announcement for Thursday, May 1, 2025, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results.
Participants can join through online registration or access a live webcast via the company's website. A replay will be available through dial-in numbers: (U.S. Local) 1-929-458-6194 or (U.S. Toll-Free) 1-866-813-9403 with access code 714936.
Myers Industries, headquartered in Akron, Ohio, manufactures sustainable plastic and metal products for various markets including industrial, agricultural, automotive, commercial, and consumer sectors. The company is also the leading distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry in the U.S.
Myers Industries (NYSE: MYE) reported Q4 2024 results with net sales increasing 7% to $203.9 million, driven by the Signature Systems acquisition and consumer fuel can sales. Q4 gross margin improved 230 basis points to 32.3%, while adjusted EBITDA reached $27.5 million.
Full-year 2024 performance showed net sales of $836.3 million, up 2.9%, with gross margin improving to 32.4%. The company reduced total debt by $26 million since March 2024 and generated $54.9 million in free cash flow.
New CEO Aaron Schapper announced a 'Focused Transformation' program targeting $20 million in annualized cost savings by year-end 2025, primarily in SG&A. The Board authorized a new $10 million share repurchase program for 2025. The company temporarily suspended formal annual guidance pending business evaluation.
Myers Industries (NYSE: MYE) has declared its quarterly cash dividend of $0.135 per share. The dividend will be paid on April 4, 2025, to shareholders of record as of March 14, 2025.
Myers Industries, headquartered in Akron, Ohio, operates as a manufacturer of sustainable plastic and metal products serving industrial, agricultural, automotive, commercial, and consumer markets. The company also maintains its position as the largest distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry in the United States.
Myers Industries (NYSE: MYE) has announced its 2025 Annual Meeting of Shareholders, scheduled for Thursday, April 24, 2025, at 9:00 a.m. Eastern Time. The meeting will be held in person at the Courtyard by Marriott in Akron, Ohio, and will also be accessible via live audio webcast through the company's Investor Relations website. The Board of Directors has established March 6, 2025 as the record date for shareholders entitled to notice and voting rights at the annual meeting. An archive of the webcast will be available for replay after the meeting.
Myers Industries (NYSE: MYE) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, March 6, 2025, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time on the same day.
Investors and analysts can participate by registering through the provided link, after which they'll receive call details and a registrant ID. Alternatively, a live webcast will be available on the company's website under the Investor Relations section. A telephone replay will be accessible using the U.S. Toll-Free number 1-866-813-9403 or International/U.S. Local number 1-929-458-6194 with access code 461896.
Myers Industries, headquartered in Akron, Ohio, manufactures sustainable plastic and metal products for various markets including industrial, agricultural, automotive, commercial, and consumer sectors. The company is also the leading distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry in the United States.
Myers Industries (NYSE: MYE) has appointed Aaron M. Schapper as President, CEO, and Board Director, effective January 1, 2025. Schapper succeeds Dave Basque, who has served as Interim President and CEO since September 9, 2024. Schapper joins from Valmont Industries, where he held various senior leadership roles over eight years, including Chief Strategy Officer and Group President positions. His experience includes leading global industrial businesses and managing operations in China. The appointment follows a comprehensive search process to lead Myers' next growth phase.
Concentra Group Holdings (NYSE: CON) will be added to the S&P SmallCap 600 effective prior to the open on Nov 27, 2024, replacing Myers Industries. Select Medical is distributing 80% of Concentra shares to shareholders in a transaction expected on Nov 26, 2024. Separately, Flex (FLEX) will join the S&P MidCap 400 on Nov 25, 2024, while Azenta (AZTA) moves to the S&P SmallCap 600 as Envestnet (ENV) is removed ahead of a Bain Capital acquisition.
Myers Industries (NYSE: MYE) reported Q3 2024 results with net sales of $205.1 million, up 3.7% from prior year. The company recorded a net loss of $10.9 million, including a $22.0 million non-cash goodwill impairment charge. Adjusted EBITDA increased to $30.7 million from $25.6 million. The company updated its full-year guidance, now expecting adjusted earnings per share of $0.92-$1.02. Management announced targeting additional $15 million in annualized cost savings by 2025, while facing ongoing demand headwinds in certain markets.