Press Releases

News

Press Releases

Myers Industries strives to provide transparency with respect to our key initiatives, business performance and future goals. We are committed to offering relevant news to our customers and shareholders. Search our extensive library to learn more.

Myers Industries Names Michael McGaugh as President and CEO

3/16/2020

Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced the Board of Directors has named Michael McGaugh as the Company’s new President and Chief Executive Officer, effective April 6, 2020.

Myers Industries Announces Quarterly Dividend

3/5/2020

Myers Industries, Inc. (NYSE: MYE) today announced that its Board of Directors has approved a quarterly cash dividend of $0.135 per share payable on April 2, 2020 to shareholders of record as of March 18, 2020.

Myers Industries Reports 2019 Fourth Quarter and Full Year Results

3/3/2020

Earnings growth in 2019 despite lower sales;
Continued margin improvement; generated free cash flow of $37 million

March 3, 2020, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter and Full Year 2019 Financial Highlights

GAAP income per diluted share from continuing operations was $0.16 for the fourth quarter and $0.68 for the full year, compared with income of $0.09 and a loss of $0.05 (after $33.3 million of pre-tax charges related to the Company’s Lawn and Garden business, which was sold in 2015), respectively, for the fourth quarter and full year of 2018

Adjusted income per diluted share from continuing operations was $0.12 for the fourth quarter and $0.78 for the full year, compared with $0.13 and $0.76, respectively, for the fourth quarter and full year of 2018

Net sales for the fourth quarter decreased 15.6% to $116.8 million, compared with $138.4 million for the fourth quarter of 2018; net sales for the full year decreased 9.0% to $515.7 million, compared with $566.7 million for the full year of 2018

Gross margin increased to 33.6% for the fourth quarter and 33.2% for the full year, compared with 30.4% and 31.6%, respectively for the fourth quarter and full year of 2018

Generated cash flow from continuing operations of $47.0 million and free cash flow of $36.7 million for the full year of 2019

Completed acquisition of Tuffy Manufacturing for $18 million in August 2019

Myers Industries Announces Reporting Date and Conference Call for 2019 Fourth Quarter and Full Year Results; Announces 2020 Annual Meeting Date

2/18/2020

Myers Industries, Inc. (NYSE: MYE) today announced that it will report financial results for the fourth quarter and full year ended December 31, 2019 on Tuesday, March 3, 2020 before the market opens. The Company will host a conference call the same day at 8:30 a.m. Eastern Time to review its performance.

Material Handling Segment

Myers Industries, Inc. is an international manufacturer of polymer-based returnable packaging and storage and safety products.

Distribution Segment

Myers Industries, Inc. is the largest wholesale distributor of tire repair and retread products in North America.