Myers Industries Announces 2026 First Quarter Results

Published: 2026-05-07 07:02:09 ET MYE

Strong Performance and Benefits from Focused Transformation Initiatives Improved Financial Metrics EPS From Continuing Operations and Adjusted EPS Grew 94.7% and 57.1% Year-over-year Respectively Operating Income Margin and Adjusted EBITDA Margin Expanded 450 bps and 420 bps Year-over-year Respectively Free Cash Flow of $23.9 Million, up 28.5% vs Fourth Quarter Myers Tire Supply Reported as Discontinued Operations; Myers Now Reports as One Operating Segment

Published on 05/07/2026 at 07:02 am EDT

Myers Industries Inc. (NYSE: MYE), a leading manufacturer of Products that Protect™, today announced results for the first quarter ended March 31, 2026.

Myers Industries President and CEO Aaron Schapper commented, “We began 2026 on a positive trajectory, delivering improved earnings and strong cash flow as our teams performed well and we benefited from recent actions to improve margins. Our decision to sell Myers Tire Supply better positions us to focus on our mission of providing our customers with Products that Protect™. I am pleased with our performance and confident that we are well on our way to deliver consistent, reliable results and create sustainable shareholder value."

First Quarter 2026 Financial Summary

Quarter Ended March 31,

(Dollars in thousands, except per share data)

2026

2025

% Inc (Dec)

Net sales

164,580

161,667

1.8%

Gross profit

56,545

50,219

12.6%

Gross margin

34.4

31.1

+330 bps

Operating income

24,852

17,201

44.5%

Operating income margin

15.1

10.6

+450 bps

Income from continuing operations

13,799

7,188

92.0%

Income per diluted share from continuing operations

0.37

0.19

94.7%

Adjusted operating income

25,905

18,418

40.7%

Adjusted operating income margin

15.7

11.4

+430 bps

Adjusted income from continuing operations

16,746

10,603

57.9%

Adjusted income per diluted share from continuing operations

0.44

0.28

57.1%

Adjusted EBITDA

35,070

27,608

27.0%

Adjusted EBITDA margin

21.3

17.1

+420 bps

Balance Sheet & Cash Flow

Portfolio Transformation

The Company realigned its organizational structure into a single segment. With the change, the Company revised its financial presentation to improve peer comparability and incorporate shareholder input. To this end, the Company has:

Quarter Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Industrial

61,268

65,486

68,637

65,311

62,917

Infrastructure

37,600

35,065

29,648

32,018

29,763

Vehicle

23,337

18,427

22,714

25,423

27,034

Consumer

23,747

12,913

20,174

26,121

20,823

Food and beverage

18,628

23,228

17,301

14,359

21,130

Total net sales

164,580

155,119

158,474

163,232

161,667

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 March 31, 2026)

2026 Outlook*

Industrial (41% 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 (21% of sales)

Signature Systems® ground protection matting for construction, industrial sites, and event venues

Strong growth

Vehicle (14% of sales)

RV, marine, and automotive components

Stable

Consumer (13% of sales)

Scepter® fuel containers; outdoor furniture and equipment

Stable, affected by normal level of storm response

Food & Beverage (11% of sales)

Buckhorn® seed boxes, intermediate bulk containers, and Tuff Series bulk containers for agricultural and chemical customers

Slightly down

*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, May 7, 2026, at 10:00 a.m. ET. The call is anticipated to last one hour and may be accessed using the online participation registration link. 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 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™ the world from the ground up 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

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Dollars in thousands, except share and per share data)

Quarter Ended

March 31, 2026

March 31, 2025

Net sales

164,580

161,667

Cost of sales

108,035

111,448

Gross profit

56,545

50,219

Selling, general and administrative expenses

27,995

29,285

Depreciation and amortization

3,698

3,752

(Gain) loss on disposal of fixed assets

—

(19

)

Operating income (loss)

24,852

17,201

Interest expense, net

6,692

7,386

Income (loss) from continuing operations before income taxes

18,160

9,815

Income tax expense (benefit)

4,361

2,627

Income (loss) from continuing operations

13,799

7,188

Income (loss) from discontinued operations, net of income tax

(15,627

)

(383

)

Net income (loss)

(1,828

)

6,805

Income (loss) per common share from continuing operations:

Basic

0.37

0.19

Diluted

0.37

0.19

Income (loss) per common share from discontinued operations:

Basic

(0.42

)

(0.01

)

Diluted

(0.42

)

(0.01

)

Net income (loss) per common share:

Basic

(0.05

)

0.18

Diluted

(0.05

)

0.18

Weighted average common shares outstanding:

Basic

37,409,060

37,298,967

Diluted

37,707,504

37,414,010

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(Dollars in thousands)

March 31, 2026

December 31, 2025

Assets

Current Assets

Cash

44,592

40,514

Trade accounts receivable, net

106,968

95,435

Other accounts receivable, net

9,153

12,195

Inventories, net

65,346

67,559

Other current assets

5,145

9,816

Assets held for sale - current

68,828

55,940

Total Current Assets

300,032

281,459

Property, plant, & equipment, net

124,264

127,943

Right of use asset - operating leases

20,971

22,199

Goodwill and intangible assets, net

383,911

387,343

Other assets

7,556

8,230

Assets held for sale

—

25,402

Total Assets

836,734

852,576

Liabilities & Shareholders' Equity

Current Liabilities

Accounts payable

64,464

51,270

Accrued expenses

44,710

49,722

Operating lease liability - short-term

6,077

5,974

Finance lease liability - short-term

654

645

Long-term debt - current portion

39,447

34,601

Liabilities held for sale - current

26,905

26,801

Total Current Liabilities

182,257

169,013

Long-term debt

291,910

311,210

Operating lease liability - long-term

14,870

16,130

Finance lease liability - long-term

7,180

7,349

Other liabilities

13,500

14,916

Deferred income taxes

38,139

37,727

Liabilities held for sale

—

2,005

Total Shareholders' Equity

288,878

294,226

Total Liabilities & Shareholders' Equity

836,734

852,576

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

Quarter Ended March 31,

2026

2025

Cash Flows From Operating Activities

Net income (loss)

(1,828

)

6,805

Income (loss) from discontinued operations, net of income taxes

(15,627

)

(383

)

Income (loss) from continuing operations

13,799

7,188

Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used for) operating activities

Depreciation and amortization

9,165

9,190

Amortization of deferred financing costs

664

540

Non-cash stock-based compensation expense

1,238

977

(Gain) loss on disposal of fixed assets

—

(19

)

Other

(2,507

)

564

Cash flows provided by (used for) working capital

Accounts receivable - trade and other, net

(8,559

)

(20,734

)

Inventories

2,072

(6,554

)

Prepaid expenses and other current assets

987

433

Accounts payable and accrued expenses

9,861

18,691

Net cash provided by (used for) operating activities - continuing operations

26,720

10,276

Net cash provided by (used for) operating activities - discontinued operations, net

(516

)

(145

)

Net cash provided by (used for) operating activities

26,204

10,131

Cash Flows From Investing Activities

Capital expenditures

(2,774

)

(8,048

)

Proceeds from sale of property, plant, and equipment

415

Net cash provided by (used for) investing activities - continuing operations

(2,359

)

(7,972

)

Net cash provided by (used for) investing activities - discontinued operations, net

(213

)

(35

)

Net cash provided by (used for) investing activities

(2,572

)

(8,007

)

Cash Flows From Financing Activities

Net borrowings (repayments) on revolving credit facility

—

13,000

Repayments of Term Loan A

(15,000

)

(5,000

)

Payments on finance lease

(160

)

(154

)

Cash dividends paid

(5,147

)

(5,317

)

Proceeds from issuance of common stock

292

295

Shares withheld for employee taxes on equity awards

(676

)

(828

)

Repurchase of common stock

—

(1,008

)

Net cash provided by (used for) financing activities - continuing operations

(20,691

)

988

Net cash provided by (used for) financing activities - discontinued operations, net

—

Net cash provided by (used for) financing activities

(20,691

)

988

Foreign exchange rate effect on cash

408

(32

)

Net increase (decrease) in cash - continuing operations

4,078

3,260

Beginning Cash

40,514

28,626

Ending Cash

44,592

31,886

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 March 31,

2026

2025

Adjusted gross profit reconciliation:

Gross profit

56,545

50,219

Restructuring expenses and other adjustments

636

108

Adjusted gross profit

57,181

50,327

Adjusted operating income (loss) reconciliation:

Operating income (loss)

24,852

17,201

Restructuring expenses and other adjustments

653

1,217

Environmental reserves, net

400

—

Adjusted operating income (loss)

25,905

18,418

Adjusted EBITDA reconciliation:

Income (loss) from continuing operations

13,799

7,188

Income tax expense (benefit)

4,361

2,627

Interest expense, net

6,692

7,386

Operating income (loss)

24,852

17,201

Depreciation and amortization

9,165

9,190

Restructuring expenses and other adjustments

653

1,217

Environmental reserves, net

400

—

Adjusted EBITDA

35,070

27,608

Free cash flow reconciliation:

Net cash provided by (used for) operating activities - continuing operations

26,720

10,276

Capital expenditures

(2,774

)

(8,048

)

Free cash flow

23,946

2,228

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 March 31,

2026

2025

Adjusted income (loss) from continuing operations reconciliation:

Income (loss) from continuing operations

13,799

7,188

Income tax expense (benefit)

4,361

2,627

Income (loss) before income taxes

18,160

9,815

Restructuring expenses and other adjustments

653

1,217

Intangible amortization

3,265

3,296

Environmental reserves, net

400

—

Adjusted income (loss) before income taxes

22,478

14,328

Income tax expense, as adjusted (1)

(5,732

)

(3,725

)

Adjusted income (loss) from continuing operations

16,746

10,603

Adjusted income (loss) per diluted share from continuing operations reconciliation:

Income (loss) per diluted share from continuing operations

0.37

0.19

Restructuring expenses and other adjustments

0.02

0.03

Intangible amortization

0.09

Environmental reserves, net

0.01

—

Adjusted effective income tax rate impact

(0.04

)

(0.03

)

Adjusted income (loss) per diluted share from continuing operations (2)

0.44

0.28

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.

MYERS INDUSTRIES, INC.

FIVE QUARTER COMPARATIVE CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Dollars in thousands, except per share data)

Quarter Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Net sales

164,580

155,119

158,474

163,232

161,667

Cost of sales

108,035

106,403

109,217

112,179

111,448

Gross profit

56,545

48,716

49,257

51,053

50,219

Selling, general and administrative expenses

27,995

24,740

28,711

27,353

29,285

Depreciation and amortization

3,698

3,746

3,716

3,756

3,752

(Gain) loss on disposal of fixed assets

—

505

112

105

(19

)

Operating income (loss)

24,852

19,725

16,718

19,839

17,201

Interest expense, net

6,692

7,174

7,497

7,364

7,386

Income (loss) from continuing operations before income taxes

18,160

12,551

9,221

12,475

9,815

Income tax expense (benefit)

4,361

1,223

2,931

2,858

2,627

Income (loss) from continuing operations

13,799

11,328

6,290

9,617

7,188

Income (loss) from discontinued operations, net of income tax

(15,627

)

798

(383

)

Net income (loss)

(1,828

)

11,330

7,088

9,705

6,805

Income (loss) per common share from continuing operations:

Basic

0.37

0.30

0.17

0.26

0.19

Diluted

0.37

0.30

0.17

0.26

0.19

Income (loss) per common share from discontinued operations:

Basic

(0.42

)

—

0.02

—

(0.01

)

Diluted

(0.42

)

—

0.02

—

(0.01

)

Net income (loss) per common share:

Basic

(0.05

)

0.30

0.19

0.26

0.18

Diluted

(0.05

)

0.30

0.19

0.26

0.18

Weighted average common shares outstanding:

Basic

37,409,060

37,390,627

37,393,620

37,391,097

37,298,967

Diluted

37,707,504

37,646,478

37,582,062

37,412,937

37,414,010

MYERS INDUSTRIES, INC.

FIVE QUARTER COMPARATIVE RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

ADJUSTED GROSS PROFIT, ADJUSTED OPERATING INCOME, ADJUSTED EBITDA AND FREE CASH FLOW (UNAUDITED)

(Dollars in thousands)

Quarter Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Adjusted gross profit reconciliation:

Gross profit

56,545

48,716

49,257

51,053

50,219

Restructuring expenses and other adjustments

636

749

1,102

388

108

Adjusted gross profit

57,181

49,465

50,359

51,441

50,327

Adjusted operating income (loss) reconciliation:

Operating income (loss)

24,852

19,725

16,718

19,839

17,201

Restructuring expenses and other adjustments

653

1,499

3,147

2,290

1,217

Pension termination

—

1,585

—

Recovery of purchased credit deteriorated assets

—

(3,175

)

—

Environmental reserves, net

400

200

—

Adjusted operating income (loss)

25,905

21,424

19,865

20,539

18,418

Adjusted EBITDA reconciliation:

Income (loss) from continuing operations

13,799

11,328

6,290

9,617

7,188

Income tax expense (benefit)

4,361

1,223

2,931

2,858

2,627

Interest expense, net

6,692

7,174

7,497

7,364

7,386

Operating income (loss)

24,852

19,725

16,718

19,839

17,201

Depreciation and amortization

9,165

9,149

9,087

9,375

9,190

Restructuring expenses and other adjustments

653

1,499

3,147

2,290

1,217

Pension termination

—

1,585

—

Recovery of purchased credit deteriorated assets

—

(3,175

)

—

Environmental reserves, net

400

200

—

Adjusted EBITDA

35,070

30,573

28,952

29,914

27,608

Quarter Ended

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Free cash flow reconciliation:

Net cash provided by (used for) operating activities - continuing operations

26,720

21,908

26,011

27,638

10,276

Capital expenditures

(2,774

)

(3,280

)

(4,176

)

(3,561

)

(8,048

)

Free cash flow

23,946

18,628

21,835

24,077

2,228

MYERS INDUSTRIES, INC.

FIVE QUARTER COMPARATIVE 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

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

March 31, 2025

Adjusted income (loss) from continuing operations reconciliation:

Income (loss) from continuing operations

13,799

11,328

6,290

9,617

7,188

Income tax expense (benefit)

4,361

1,223

2,931

2,858

2,627

Income (loss) before income taxes

18,160

12,551

9,221

12,475

9,815

Restructuring expenses and other adjustments

653

1,499

3,147

2,290

1,217

Pension termination

—

1,585

—

Recovery of purchased credit deteriorated assets

—

(3,175

)

—

Intangible amortization

3,265

3,278

3,295

3,296

Environmental reserves, net

400

200

—

Adjusted income (loss) before income taxes

22,478

17,528

15,663

16,471

14,328

Income tax expense, as adjusted (1)

(5,732

)

(4,238

)

(4,072

)

(4,282

)

(3,725

)

Adjusted income (loss) from continuing operations

16,746

13,290

11,591

12,189

10,603

Adjusted income (loss) per diluted share from continuing operations reconciliation:

Income (loss) per diluted share from continuing operations

0.37

0.30

0.17

0.26

0.19

Restructuring expenses and other adjustments

0.02

0.04

0.08

0.06

0.03

Pension termination

—

0.04

—

Recovery of purchased credit deteriorated assets

—

(0.08

)

—

Intangible amortization

0.09

Environmental reserves, net

0.01

—

Adjusted effective income tax rate impact

(0.04

)

(0.08

)

(0.03

)

(0.04

)

(0.03

)

Adjusted income (loss) per diluted share from continuing operations (2)

0.44

0.35

0.31

0.33

0.28

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 for the quarters ended March 31, 2026 and December 31, 2025 is 25.5% and the rate used for the quarters ended September 30, 2025, June 30, 2025 and March 31, 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.

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