Myers Industries Announces First Quarter 2025 Results

About this update from Myers Industries, Inc.

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(NYSE: MYE), a leading manufacturer of products that protect the world from the ground up, today announced results for the first quarter ended March 31, 2025.","length":224,"tagName":"p"},{"type":"text","content":"Myers Industries’ President and CEO Aaron Schapper commented, "We are pleased to report first quarter results of improved profitability on flat sales driven by the contribution of our Signature acquisition and strong performance of our Scepter military products. Further, we reduced our SG&A across the businesses. Our 'Focused Transformation' program, launched earlier this year, is gaining momentum as we foster a culture of accountability and ignite a renewed drive among employees. I have been encouraged by conversations with our teams as we identify opportunities and actions to drive enterprise-wide improvements. During the quarter, we activated our previously announced $10 million 2025 Share Repurchase Program, demonstrating our commitment to return cash to shareholders. Finally, the fact that fifteen of our sixteen manufacturing sites are located within the U.S. enables us to provide our customers with supply chain sourcing optionality and a level of insulation from potential tariff impacts. As we move forward, we remain committed to transforming our organization by building a culture rooted in accountability, continuous improvement, and a profitable growth mindset."","length":1209,"tagName":"p"},{"type":"text","content":" First Quarter 2025 Financial Summary ","length":36,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:top;padding-left:0.0px;width:55%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"10","rowspan":"1","style":"vertical-align:bottom;border-bottom:solid black 1.0pt;padding-left:0.0px;","val":[{"type":"text","content":" Quarter Ended March 31, 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outdoor furniture and equipment ","length":51,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;vertical-align:middle;width:33%;","val":[{"type":"text","content":"Stable, affected by hurricane responses","length":39,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:5.0px;width:67%;","val":[{"type":"text","content":" Food & Beverage (8% of sales) ","length":33,"tagName":"p","attribs":{}},{"type":"text","content":" Buckhorn ® seed boxes, intermediate bulk containers, and Tuff Series bulk containers for agricultural and chemical customers ","length":123,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;vertical-align:middle;width:33%;","val":[{"type":"text","content":"Stable","length":6,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:5.0px;width:67%;","val":[{"type":"text","content":" Automotive Aftermarket Distribution (25% of sales) ","length":50,"tagName":"p","attribs":{}},{"type":"text","content":" Distribution sales to tire service aftermarket ","length":46,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;padding-left:0.0px;text-align:center;list-style-position:inside;vertical-align:middle;width:33%;","val":[{"type":"text","content":"Slightly down","length":13,"tagName":"p","attribs":{}}]}]}],"length":892},{"type":"text","content":"Myers products are largely produced domestically. In 2025, we expect more than 90% of revenue from the Material Handling segment to be manufactured from our fifteen manufacturing sites within the U.S. We consistently monitor the effect of end-market dynamics, including price and volume; however, we expect minimal direct impact from current tariffs.","length":350,"tagName":"p"},{"type":"text","content":" Conference Call Details ","length":23,"tagName":"p"},{"type":"text","content":"The Company will host an earnings conference call and webcast for investors and analysts on Thursday, May 1, 2025, at 8:30 a.m. ET. The call is anticipated to last less than one hour and may be accessed using the following online participation registration link: https://www.netroadshow.com/events/login?show=ddf14a59&confId=80083 . Upon registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. To access the live webcast or a replay, visit the Company's website www.myersindustries.com and click on the Investor Relations tab. An archived replay of the call will also be available on the site shortly after the event. To listen to the telephone replay, callers should dial: (U.S. Local) 1-929-458-6194 or (U.S. Toll-Free) 1-866-813-9403 and use access code 714936.","length":940,"tagName":"p"},{"type":"text","content":" Use of Non-GAAP Financial Measures ","length":34,"tagName":"p"},{"type":"text","content":"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.","length":830,"tagName":"p"},{"type":"text","content":" About Myers Industries ","length":22,"tagName":"p"},{"type":"text","content":"Myers Industries Inc., based in Akron, Ohio, is a leading manufacturer of sustainable plastic and metal products that protect the world from the ground up for consumer, vehicle, food & beverage, industrial, infrastructure, and automotive aftermarket 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.","length":632,"tagName":"p"},{"type":"text","content":" Caution on Forward-Looking Statements ","length":37,"tagName":"p"},{"type":"text","content":"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 inherent 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.","length":1334,"tagName":"p"},{"type":"text","content":"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; 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, 2024. 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.","length":2107,"tagName":"p"},{"type":"text","content":"M-INV","length":5,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"9","rowspan":"1","style":"padding-left:0.0px;text-align:center;list-style-position:inside;","val":[{"type":"text","content":" MYERS INDUSTRIES, INC. 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