Recent Updates — MYE
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.
Myers Industries adopted an amended and restated Senior Officer Severance Plan effective October 22, 2026. The update modifies the Prior Plan by including Target Bonus in cash severance calculations outside the Change in Control protection period. It also increases the CEO's cash severance multiplier from 2.5x to 3x within that period and adds a separate Executive Leadership Team tier with a 2x multiplier. Myers Industries manufactures plastic piping systems, tanks, and containers for industrial applications.
Myers Industries, Inc. sold its Myers Tire Supply (MTS) North American business to TAPS Holdings, LLC for aggregate consideration of $30 million, subject to customary post-closing adjustments for cash, indebtedness, net working capital, and transaction expenses. The divestiture includes MTS and its subsidiaries, which historically operated the company's tire supply distribution division serving the automotive service industry. This strategic transaction advances Myers' focused transformation into a manufacturer of engineered resin and composite products for critical infrastructure, industrial, consumer, food and beverage, and vehicle end markets. Myers Industries is a leading manufacturer of sustainable plastic and metal protective products for various industrial and consumer sectors.
Myers Industries reported second quarter 2026 results with net sales of $179.2 million, a 9.8% increase year-over-year. Earnings per diluted share from continuing operations rose to $0.50, up 92.3%, while adjusted EPS reached $0.53, a 60.6% gain. Operating income margin expanded to 17.4% and adjusted EBITDA margin to 21.8%. The company generated $26.5 million in free cash flow and reduced its net leverage ratio to 1.9x. Concurrently, Myers amended its credit agreement on July 28, 2026, establishing a new $250 million Term Loan Facility and maintaining a $250 million Revolving Credit Facility, with maturities extended to 2031. The company operates in the industrial manufacturing sector, producing plastic and metal protective products for consumer, vehicle, food and beverage, infrastructure, and industrial end markets.