Myers Industries Announces 2026 Second Quarter Results

About this update from Myers Industries, Inc.

Myers Industries Inc. (NYSE: MYE), a leading manufacturer of Products that Protect™, today announced results for the second quarter ended June 30, 2026. Myers Industries President and CEO Aaron Schapper commented, “Our second quarter results reflect continued execution against our Focused Transformation initiatives and the disciplined actions we have taken to improve the quality of the business. We posted outstanding revenue growth, expanded profitability, generated strong cash flow, and remain focused on serving our customers. The results we have achieved through the first half of 2026, combined with our simplified portfolio, operational improvements and growth investments, position us to sustain our momentum and strengthen our confidence to continue delivering consistent financial performance and long-term value for our shareholders.” Second Quarter 2026 Financial Summary     Quarter Ended June 30, (Dollars in thousands, except per share data)   2026     2025     % Inc (Dec) Net sales   $ 179,202     $ 163,232     9.8 % Gross profit   $ 61,463     $ 51,053     20.4 % Gross margin     34.3 %     31.3 %   +300 bps Operating income   $ 31,172     $ 19,839     57.1 % Operating income margin     17.4 %     12.2 %   +520 bps Income from continuing operations   $ 18,749     $ 9,617     95.0 % Income per diluted share from continuing operations   $ 0.50     $ 0.26     92.3 %                   Adjusted operating income   $ 29,993     $ 20,539     46.0 % Adjusted operating income margin     16.7 %     12.6 %   +410 bps Adjusted income from continuing operations   $ 20,108     $ 12,189     65.0 % Adjusted income per diluted share from continuing operations   $ 0.53     $ 0.33     60.6 % Adjusted EBITDA   $ 39,057     $ 29,914     30.6 % Adjusted EBITDA margin     21.8 %     18.3 %   +350 bps Revenue by end market     Quarter Ended June 30,       2026       2025     % Inc (Dec) Industrial     66,295       65,311     2% Infrastructure     48,589       32,018     52% Consumer     22,504       26,121     (14%) Food & Beverage     21,309       14,359     48% Vehicle     20,505       25,423     (19%) Net sales increased 13% excluding the impact from our decision to exit approximately $5 million low-margin products with the idling of two rotational molding facilities in the fourth quarter of 2025. Infrastructure grew 52% and Food & Beverage grew 48%, offset by soft Vehicle and Consumer demand, down 19% and 14%, respectively. Gross profit and Operating income increased due to improved volume and mix, price, and lower manufacturing costs from our Focused Transformation program, which collectively more than offset higher material costs. Balance Sheet & Cash Flow Total liquidity was $292.3 million, including $244.7 million of availability under the revolving credit facility and $47.6 million in cash on hand. On July 28, 2026, the company amended its credit agreement to refinance its existing credit facilities with a new $250 million Revolving Credit Facility and a new $250 million Term Loan. Maturity date of the revolver and the new Term Loan extended from 2027 and 2029 respectively, to 2031. Cash flow from operations was $32.1 million, free cash flow was $26.5 million, and capital expenditures were $5.6 million. Net debt as defined by the credit agreement was reduced by $21.2 million while the net leverage ratio improved to 1.9x from 2.2x in the previous quarter. 2026 End Market Outlook The following table presents the Company’s current 2026 outlook for each of its end markets. End Markets (% of TTM Sales as of June 30, 2026) 2026 Outlook* Industrial (40% of sales) Akro-Mils®, Buckhorn® & Jamco® containers, organizational bins, totes, carts and cabinets; Scepter® military ammunition containers; OEM parts for general industrial equipment Moderate growth Infrastructure (23% of sales) Signature Systems® ground protection matting for construction, industrial sites, and event venues Strong growth Vehicle (13% of sales) RV, marine, and automotive components Stable Consumer (12% of sales) Scepter® fuel containers; outdoor furniture and equipment Stable, affected by normal level of storm response Food & Beverage (12% of sales) Buckhorn® seed boxes, intermediate bulk containers, and Tuff Series bulk containers for agricultural and chemical customers Moderate growth *Excludes impact from exiting low-margin products and idling two rotational molding facilities in Q4 2025   Conference Call Details The Company will host an earnings conference call and webcast for investors and analysts on Thursday, July 30, 2026, at 10:00 a.m. ET. The call is anticipated to last one hour and may be accessed via live webcast or a replay, by visiting the Company's website www.myersindustries.com and clicking on the Investor Relations tab. An archived replay of the call will also be available shortly after the event. Use of Non-GAAP Financial Measures The Company uses certain non-GAAP measures in this release. Adjusted gross profit, adjusted gross margin, adjusted operating income (loss), adjusted operating income margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA margin, adjusted net income, adjusted earnings per diluted share (adjusted EPS), and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. Myers Industries believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release. About Myers Industries Myers Industries Inc., based in Akron, Ohio, is a leading manufacturer of sustainable plastic and metal Products that Protect™ for Consumer, Vehicle, Food & Beverage, Industrial, and Infrastructure end markets. Myers Industries has a rich history that is built on strong brands and innovative products. Through years of continuous product development and strategic acquisitions, we have established ourselves as a leading diversified industrial company. We provide critical solutions to our customers, delivering exceptional value. Visit www.myersindustries.com to learn more. Caution on Forward-Looking Statements Statements in this release include “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including information regarding the Company’s financial outlook, future plans, objectives, business prospects and anticipated financial performance. Forward-looking statements can be identified by words such as “will,” “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” or variations of these words, or similar expressions. These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, these statements inherently involve a wide range of uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. The Company’s actual actions, results, and financial condition may differ materially from what is expressed or implied by the forward-looking statements. Specific factors that could cause such a difference on our business, financial position, results of operations and/or liquidity include, without limitation, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world, including the impacts of U.S. and foreign tariff policies; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; unforeseen events, including natural disasters, unusual or severe weather events and patterns, public health crises, geopolitical crises, and other catastrophic events; our ability to successfully execute our announced intended divestiture of the Myers Tire Supply business; and other risks and uncertainties detailed from time to time in the Company’s filings with the SEC, including without limitation, the risk factors disclosed in Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Given these factors, as well as other variables that may affect our operating results, readers should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, nor use historical trends to anticipate results or trends in future periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company expressly disclaims any obligation or intention to provide updates to the forward-looking statements and the estimates and assumptions associated with them. M-INV Source: Myers Industries, Inc.   MYERS INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Dollars in thousands, except share and per share data)       Quarter Ended     Six Months Ended       June 30, 2026     June 30, 2025     June 30, 2026     June 30, 2025   Net sales   $ 179,202     $ 163,232     $ 343,782     $ 324,899   Cost of sales     117,739       112,179       225,774       223,627   Gross profit     61,463       51,053       118,008       101,272   Selling, general and administrative expenses     26,557       27,353       54,552       56,638   Depreciation and amortization     3,658       3,756       7,356       7,508   (Gain) loss on disposal of fixed assets     76       105       76       86   Operating income (loss)     31,172       19,839       56,024       37,040   Interest expense, net     6,267       7,364       12,959       14,750   Income (loss) from continuing operations before income taxes     24,905       12,475       43,065       22,290   Income tax expense (benefit)     6,156       2,858       10,517       5,485   Income (loss) from continuing operations     18,749       9,617       32,548       16,805   Income (loss) from discontinued operations, net of income tax     1,283       88       (14,344 )     (295 ) Net income (loss)   $ 20,032     $ 9,705     $ 18,204     $ 16,510   Income (loss) per common share from continuing operations:                         Basic   $ 0.50     $ 0.26     $ 0.87     $ 0.45   Diluted   $ 0.50     $ 0.26     $ 0.86     $ 0.45   Income (loss) per common share from discontinued operations:                         Basic   $ 0.03     $ —     $ (0.38 )   $ (0.01 ) Diluted   $ 0.03     $ —     $ (0.38 )   $ (0.01 ) Net income (loss) per common share:                         Basic   $ 0.53     $ 0.26     $ 0.49     $ 0.44   Diluted   $ 0.53     $ 0.26     $ 0.48     $ 0.44   Weighted average common shares outstanding:                         Basic     37,551,351       37,391,097       37,480,205       37,345,032   Diluted     37,791,663       37,412,937       37,742,984       37,429,514                                                                                   MYERS INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (Dollars in thousands)       June 30, 2026     December 31, 2025   Assets             Current Assets             Cash   $ 47,635     $ 40,514   Trade accounts receivable, net     108,713       95,435   Other accounts receivable, net     7,113       12,195   Inventories, net     77,018       67,559   Other current assets     4,651       9,816   Assets held for sale - current     68,415       55,940   Total Current Assets     313,545       281,459   Property, plant, & equipment, net     123,375       127,943   Right of use asset - operating leases     19,311       22,199   Goodwill and intangible assets, net     380,441       387,343   Other assets     8,368       8,230   Assets held for sale     —       25,402   Total Assets   $ 845,040     $ 852,576   Liabilities & Shareholders' Equity             Current Liabilities             Accounts payable   $ 76,211     $ 51,270   Accrued expenses     46,906       49,722   Operating lease liability - short-term     5,980       5,974   Finance lease liability - short-term     667       645   Long-term debt - current portion     39,479       34,601   Liabilities held for sale - current     25,716       26,801   Total Current Liabilities     194,959       169,013   Long-term debt     272,402       311,210   Operating lease liability - long-term     13,374       16,130   Finance lease liability - long-term     7,007       7,349   Other liabilities     12,349       14,916   Deferred income taxes     38,581       37,727   Liabilities held for sale     —       2,005   Total Shareholders' Equity     306,368       294,226   Total Liabilities & Shareholders' Equity   $ 845,040     $ 852,576     MYERS INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollars in thousands)       Quarter Ended June 30,     Six Months Ended June 30,       2026     2025     2026     2025   Cash Flows From Operating Activities                         Net income (loss)   $ 20,032     $ 9,705     $ 18,204     $ 16,510   Income (loss) from discontinued operations, net of income taxes     1,283       88       (14,344 )     (295 ) Income (loss) from continuing operations     18,749       9,617       32,548       16,805   Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used for) operating activities                         Depreciation and amortization     9,064       9,375       18,229       18,565   Amortization of deferred financing costs     642       540       1,306       1,080   Non-cash stock-based compensation expense     1,683       571       2,921       1,548   (Gain) loss on disposal of fixed assets     76       105       76       86   Other     (227 )     (276 )     (2,734 )     288   Cash flows provided by (used for) working capital                         Accounts receivable - trade and other, net     59       25,521       (8,500 )     4,787   Inventories     (11,816 )     3,977       (9,744 )     (2,577 ) Prepaid expenses and other current assets     375       (5,376 )     1,362       (4,943 ) Accounts payable and accrued expenses     13,466       (16,416 )     23,327       2,275   Net cash provided by (used for) operating activities - continuing operations     32,071       27,638       58,791       37,914   Net cash provided by (used for) operating activities - discontinued operations, net     1,470       673       954       528   Net cash provided by (used for) operating activities     33,541       28,311       59,745       38,442   Cash Flows From Investing Activities                         Capital expenditures     (5,606 )     (3,561 )     (8,380 )     (11,609 ) Proceeds from sale of property, plant, and equipment     1,180       85       1,595       161   Net cash provided by (used for) investing activities - continuing operations     (4,426 )     (3,476 )     (6,785 )     (11,448 ) Net cash provided by (used for) investing activities - discontinued operations, net     (116 )     (46 )     (329 )     (81 ) Net cash provided by (used for) investing activities     (4,542 )     (3,522 )     (7,114 )     (11,529 ) Cash Flows From Financing Activities                         Net borrowings (repayments) on revolving credit facility     —       (8,000 )     —       5,000   Repayments of Term Loan A     (20,000 )     (5,000 )     (35,000 )     (10,000 ) Payments on finance lease     (161 )     (155 )     (321 )     (309 ) Cash dividends paid     (5,192 )     (5,066 )     (10,339 )     (10,383 ) Proceeds from issuance of common stock     329       278       621       573   Shares withheld for employee taxes on equity awards     (63 )     (57 )     (739 )     (885 ) Repurchase of common stock     —       (507 )     —       (1,515 ) Net cash provided by (used for) financing activities - continuing operations     (25,087 )     (18,507 )     (45,778 )     (17,519 ) Net cash provided by (used for) financing activities - discontinued operations, net     —       —       —       —   Net cash provided by (used for) financing activities     (25,087 )     (18,507 )     (45,778 )     (17,519 ) Foreign exchange rate effect on cash     485       (294 )     893       (326 ) Net increase (decrease) in cash - continuing operations     3,043       5,361       7,121       8,621   Beginning Cash     44,592       31,886       40,514       28,626   Ending Cash   $ 47,635     $ 37,247     $ 47,635     $ 37,247   MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED GROSS PROFIT, ADJUSTED OPERATING INCOME, ADJUSTED EBITDA AND FREE CASH FLOW (UNAUDITED) (Dollars in thousands)       Quarter Ended June 30,     Six Months Ended June 30,       2026     2025     2026     2025   Adjusted gross profit reconciliation:                         Gross profit   $ 61,463     $ 51,053     $ 118,008     $ 101,272   Restructuring expenses and other adjustments     626       388       1,262       496   Adjusted gross profit   $ 62,089     $ 51,441     $ 119,270     $ 101,768                             Adjusted operating income (loss) reconciliation:                         Operating income (loss)   $ 31,172     $ 19,839     $ 56,024     $ 37,040   Restructuring expenses and other adjustments     858       2,290       1,511       3,507   Acquisition non-income tax reserve release     (2,037 )     —       (2,037 )     —   Pension termination     —       1,585       —       1,585   Recovery of purchased credit deteriorated assets     —       (3,175 )     —       (3,175 ) Environmental reserves, net     —       —       400       —   Adjusted operating income (loss)   $ 29,993     $ 20,539     $ 55,898     $ 38,957                             Adjusted EBITDA reconciliation:                         Income (loss) from continuing operations   $ 18,749     $ 9,617     $ 32,548     $ 16,805   Income tax expense (benefit)     6,156       2,858       10,517       5,485   Interest expense, net     6,267       7,364       12,959       14,750   Operating income (loss)     31,172       19,839       56,024       37,040   Depreciation and amortization     9,064       9,375       18,229       18,565   Restructuring expenses and other adjustments     858       2,290       1,511       3,507   Acquisition non-income tax reserve release     (2,037 )     —       (2,037 )     —   Pension termination     —       1,585       —       1,585   Recovery of purchased credit deteriorated assets     —       (3,175 )     —       (3,175 ) Environmental reserves, net     —       —       400       —   Adjusted EBITDA   $ 39,057     $ 29,914     $ 74,127     $ 57,522                             Free cash flow reconciliation:                         Net cash provided by (used for) operating activities - continuing operations   $ 32,071     $ 27,638     $ 58,791     $ 37,914   Capital expenditures     (5,606 )     (3,561 )     (8,380 )     (11,609 ) Free cash flow   $ 26,465     $ 24,077     $ 50,411     $ 26,305     MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS AND ADJUSTED INCOME (LOSS) PER DILUTED SHARE FROM CONTINUING OPERATIONS (UNAUDITED) (Dollars in thousands, except per share data)       Quarter Ended June 30,     Six Months Ended June 30,         2026     2025     2026     2025     Adjusted income (loss) from continuing operations reconciliation:                           Income (loss) from continuing operations   $ 18,749     $ 9,617     $ 32,548     $ 16,805     Income tax expense (benefit)     6,156       2,858       10,517       5,485     Income (loss) before income taxes     24,905       12,475       43,065       22,290     Restructuring expenses and other adjustments     858       2,290       1,511       3,507     Acquisition non-income tax reserve release     (2,037 )     —       (2,037 )     —     Pension termination     —       1,585       —       1,585     Recovery of purchased credit deteriorated assets     —       (3,175 )     —       (3,175 )   Intangible amortization     3,265       3,296       6,530       6,592     Environmental reserves, net     —       —       400       —     Adjusted income (loss) before income taxes     26,991       16,471       49,469       30,799     Income tax expense, as adjusted (1)     (6,883 )     (4,282 )     (12,615 )     (8,007 )   Adjusted income (loss) from continuing operations   $ 20,108     $ 12,189     $ 36,854     $ 22,792                                 Adjusted income (loss) per diluted share from continuing operations reconciliation:                           Income (loss) per diluted share from continuing operations   $ 0.50     $ 0.26     $ 0.86     $ 0.45     Restructuring expenses and other adjustments     0.02       0.06       0.04       0.09     Acquisition non-income tax reserve release     (0.05 )     —       (0.05 )     —     Pension termination     —       0.04       —       0.04     Recovery of purchased credit deteriorated assets     —       (0.08 )     —       (0.08 )   Intangible amortization     0.09       0.09       0.17       0.18     Environmental reserves, net     —       —       0.01       —     Adjusted effective income tax rate impact     (0.02 )     (0.04 )     (0.06 )     (0.07 )   Adjusted income (loss) per diluted share from continuing operations (2)   $ 0.53     $ 0.33     $ 0.98     $ 0.61                                 Items in this table may not recalculate due to rounding     (1) Income taxes are calculated using the normalized effective tax rate for each period. The rate used in 2026 is 25.5% and in 2025 is 26.0%. (2) Adjusted income (loss) per diluted share from continuing operations is calculated using the weighted average common shares outstanding for the respective period.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260730910461/en/

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