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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, Inc. (NYSE: MYE) announced it will release its third quarter financial results for the period ending September 30, 2021, on November 4, 2021, before market opening. A conference call to discuss these results will occur the same day at 8:30 a.m. Eastern Time. Investors can register for the call or access a live webcast via the company’s website. A replay will be available until November 11, 2021. Myers Industries is a key manufacturer of polymer products and tool supplies for various markets in the U.S.
Myers Industries, Inc. (NYSE: MYE) has declared a quarterly cash dividend of $0.135 per share, scheduled for payment on October 4, 2021. Shareholders of record as of September 13, 2021 will receive this dividend. Myers Industries is recognized for its diverse range of polymer products across various sectors and is the top distributor of tools and supplies for the tire and automotive service industry in the U.S.
Myers Industries (NYSE: MYE) reported robust second-quarter results for 2021, with net sales of $187.4 million, a 58.3% increase from $118.4 million in Q2 2020. The surge included $30.9 million from the Elkhart Plastics acquisition. Net income per diluted share rose to $0.30, up from $0.23 the previous year. Despite strong volume growth, results were affected by rising raw material costs. The company also announced the acquisition of Trilogy Plastics and provided a revised sales growth outlook of mid-40% for 2021.
Myers Industries (NYSE: MYE) has launched a new brand identity to enhance its market presence and align with its 'One Myers' vision. This rebranding includes a master brand, a new logo, and a redesigned website, all aimed at showcasing the company's comprehensive offerings. CEO Mike McGaugh emphasized that this transformation will cultivate a unified company culture, driving innovation and growth in its Material Handling and Distribution segments. The rebranding initiative is backed by extensive market research and expert consultants.
Myers Industries (NYSE: MYE) has acquired the assets of Trilogy Plastics, a custom rotational molder, using its revolving credit facility. This acquisition supports Myers' "One Myers" strategy aimed at enhancing growth through value-added acquisitions. Trilogy, with annual revenues of approximately $35 million, will bolster Myers' rotational molding operations, creating one of the largest manufacturers in the U.S. The transaction is expected to generate cost synergies of about 3% of sales and to be slightly accretive to earnings in 2021.
Myers Industries (NYSE: MYE) will release its financial results for Q2 2021 on August 5, 2021, before market opens. A conference call to discuss the results will occur the same day at 8:30 a.m. ET. Investors can register for the call using a provided link or listen via a live webcast on the company’s website. An archived replay will also be available post-event.
Myers Industries, Inc. (NYSE: MYE) has announced a quarterly cash dividend of $0.135 per share. This dividend is payable on July 2, 2021, to shareholders of record as of June 18, 2021. Myers Industries is a leading manufacturer of polymer products across various markets, including industrial and automotive sectors, and is the largest distributor of tools and equipment for the tire service industry in the U.S.
Myers Industries (NYSE: MYE) reported first-quarter 2021 financial results with net sales rising by $52.2 million (42.7%) to $174.4 million, aided by the Elkhart Plastics acquisition contributing $27.1 million. However, net income per diluted share fell to $0.20 from $0.47 in Q1 2020. Adjusted earnings remained flat at $0.22. Gross profit increased to $50.4 million, but gross margin declined to 28.9% from 34.8%. The company has raised its net sales guidance for 2021, projecting high 30% growth, along with diluted EPS expectations between $0.87 and $1.02.
Myers Industries (NYSE: MYE) will report its first-quarter financial results for the period ended March 31, 2021, on May 6, 2021, before market opening. A conference call to discuss the performance is scheduled for the same day at 8:30 a.m. ET. Investors can join the call through a registration link or via a live webcast on the company’s website. A replay of the teleconference will be available until May 13, 2021. Myers Industries is a leading manufacturer of polymer products and the largest distributor of tire service industry supplies in the U.S.
Myers Industries (NYSE: MYE) has announced a price increase of 9% to 12% on most products in its Material Handling Segment, effective April 1, 2021. This follows a prior increase of 8% on March 1, 2021, due to rising raw material costs, particularly for resin and steel. The price adjustments impact products sold by brands including Akro-Mils, Ameri-Kart, and Scepter, reflecting ongoing challenges in raw material procurement.
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