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Myers Industries strives to provide transparency with respect to key initiatives, business outlook and future goals, providing the information necessary to make good decisions and continually grow our business.  We are committed to offering relevant news to our customers and shareholders. Search our extensive library to learn more.
3/9/2017

Fourth quarter results in line with Company expectations; Strategic update and long-term outlook provided

Myers Industries, Inc. (NYSE: MYE) today announced results for the fourth quarter and year ended December 31, 2016.

Business Highlights
  • Income per diluted share from continuing operations was a loss of $0.04, compared to $0.00 for the fourth quarter of 2015 and $0.05, compared to $0.45 for the full year of 2015; adjusted income per diluted share from continuing operations was $0.00, compared to $0.06 for the fourth quarter of 2015 and $0.44, compared to $0.57 for the full year of 2015
  • Fourth-quarter and full-year 2016 net sales declined 6.6% and 7.2%, respectively; primarily the result of a reduced capital spending environment in several key customer end markets
  • Selling, general and administrative expenses declined by $8.8 million in 2016 to $138.6 million, representing 24.8% of net sales, compared to 24.5% of net sales in the prior year
  • Working capital improvements and disciplined capital spending resulted in $21 million in free cash flow (cash flow from continuing operations less capital expenditures) for 2016; $16 million returned to shareholders as dividends during 2016
  • Amended and extended loan agreement announced on March 9, 2017 enables greater financial flexibility
  • Announcing enterprise strategy focused on growth opportunities in key niche markets and improving operational efficiency to drive strong cash flow growth; established long-term financial targets
3/7/2017
Myers Industries, Inc. (NYSE: MYE) announced that its Board of Directors has approved a quarterly cash dividend of $0.135 per share payable on April 4, 2017 to shareholders of record as of March 17, 2017.
2/23/2017
Myers Industries, Inc. (NYSE: MYE) today announced that it will report financial results for the fourth quarter and year ended December 31, 2016 on Thursday, March 9, 2017 before the market opens.
2/17/2017
Myers Industries, Inc. (NYSE: MYE) announced today that it will hold its Annual Meeting of Shareholders on Wednesday, April 26, 2017, at 9 a.m. Eastern Time.
Myers Industries, Inc. is an international manufacturer of polymer-based returnable packaging and storage and safety products.
Myers Industries, Inc. is the largest wholesale distributor of tire repair and retread products in North America.