Earnings ·
Myers Industries reports Q3 diluted EPS of $0.13 as revenue grows 8.1% to $171.3M
MYEMyers Industries Inc
Myers Industries reported third-quarter net sales of $171.3 million, an 8.1% increase from the prior year period. Diluted earnings per share from continuing operations were $0.13, down from $0.17 in the same quarter last year. Gross profit declined 5.0% to $46.8 million due to higher resin costs and unfavorable product mix, pressuring gross margins by 380 basis points. Adjusted diluted EPS improved 3.2% to $0.32. The company completed the sale of its Myers Tire Supply business, simplifying its portfolio. Total liquidity stood at $254.7 million with net debt reduced by $28.5 million. Myers Industries is a leading manufacturer of sustainable plastic and metal products for consumer, vehicle, food and beverage, industrial, and infrastructure end markets.