Myers Industries, Inc. - MYE STOCK NEWS

Myers Industries reports first quarter 2023 financial results, with net sales of $215.7 million, gross margin of 32.9%, and adjusted earnings per diluted share of $0.38. The company emphasizes gross margin expansion and increased cash flow generation. However, reduced demand for products serving the Recreational Vehicle end market and high-quality, high-dollar discretionary purchases for consumers remains a challenge. The Distribution segment shows promise with the acquisition of Mohawk Rubber.

Myers Industries, Inc. (NYSE: MYE) will report its first quarter financial results for the period ended March 31, 2023, on May 4, 2023, before market opens. A conference call will follow at 8:00 a.m. Eastern Time the same day to discuss its performance. Interested investors can access the call at 1-833-630-1956 for toll-free or 1-412-317-1837 for international participation. A live webcast is also available through their website.

Myers Industries is a prominent manufacturer of polymer and metal products across various markets, including industrial and automotive sectors. Additionally, it leads in distributing tools and equipment for the tire and wheel service industry in the U.S.

Myers Industries (NYSE: MYE) appointed Grant E. Fitz as Executive Vice President and Chief Financial Officer, effective May 8, 2023. With over 30 years of financial experience, Fitz will oversee the finance organization, including accounting, financial planning, and investor relations. President and CEO Mike McGaugh praised Fitz's ability to drive growth and execute strategies, while thanking interim CFO Monica Vinay for her leadership. Fitz previously served as CFO of EFI and held executive roles at Valassis, Xerox, and General Motors. The company aims to further its operational and financial excellence under his leadership.

Myers Industries, Inc. (NYSE: MYE) has declared a quarterly cash dividend of $0.135 per share, set for payment on April 4, 2023. Shareholders of record as of March 16, 2023 will receive this dividend. The company is recognized as a leading manufacturer of polymer and metal products across various markets and is the largest distributor of tire and automotive service tools in the U.S.

Myers Industries (NYSE: MYE) reported robust financial performance for Q4 and the full year 2022, highlighting significant growth. Q4 net sales reached $213 million, a 7% increase year-over-year, while full-year sales totaled $900 million, an 18% rise. GAAP EPS for Q4 was $0.36, up 80%, with adjusted EPS at $0.32, a 39% increase. The company generated $22 million in cash flow from operations. Notable acquisitions in 2022 strengthened its Distribution and Material Handling segments. For 2023, Myers anticipates low-to-mid single-digit sales growth and diluted EPS between $1.51 and $1.81.

Myers Industries, Inc. (NYSE: MYE) will disclose its financial results for the fourth quarter and full year ended December 31, 2022, on March 1, 2023, before the market opens. The company will hold a conference call at 8:30 a.m. ET the same day to discuss its performance. Investors can register for the call online or join via a live webcast on Myers’ website. Additionally, the Annual Meeting of Shareholders is scheduled for April 27, 2023, at 9:00 a.m. ET, with a record date of March 3, 2023. The meeting will be accessible through an audio webcast as well. Myers Industries is a leading manufacturer of polymer and metal products across various markets.

Myers Industries, Inc. (NYSE: MYE) reported third-quarter results for 2022, showing record financial performance with net sales of $228.1 million, a 14% increase year-over-year. Earnings per diluted share surged 68% to $0.37. Adjusted EBITDA rose 57% to $27.2 million, with cash flow from operations increasing to $16.5 million. The company raised its adjusted EPS outlook for 2022 to a range of $1.50 - $1.70. Despite inflationary pressures, effective price actions helped achieve these results, indicating robust business resilience and growth.

Myers Industries, Inc. (NYSE: MYE) has declared a quarterly cash dividend of $0.135 per share, set for payment on January 4, 2023. Shareholders of record as of December 5, 2022 will receive this dividend. Myers Industries is recognized for its diverse range of polymer and metal products serving various markets including industrial and agricultural. Additionally, it holds a significant position in tool and equipment distribution for the tire service industry in the U.S.

Myers Industries (NYSE: MYE), a leader in engineered plastics solutions, showcases its diverse product portfolio at Pack Expo, taking place from October 23-26, 2022 in Chicago, Illinois. Key offerings include reusable packaging solutions such as Intermediate Bulk Containers (IBC) and high-value storage options, designed for various industries including manufacturing and food processing. Vice President Jim Gurnee emphasizes the importance of in-person demonstrations to showcase product features and performance.