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Myers Industries (MYE)
NYSE:MYE
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.1Last Year’s EPS
$0.29Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 0.19%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong performance from certain segments like Signature Systems and Scepter, contributing to growth in gross margin and adjusted EBITDA. However, significant challenges remain with demand headwinds, a noncash goodwill impairment charge, and a decline in the Distribution Segment. The company also lowered its full-year guidance, indicating caution in the near term.Company Guidance
During the Myers Industries Q3 2024 earnings call, the guidance highlighted several key metrics and strategic initiatives. The company reported net sales of $205.1 million, an increase of 3.7% from the previous year, driven primarily by the acquisition of Signature Systems and strong performance by Scepter, whose sales rose by 60%. Despite these gains, demand headwinds were noted in several end markets, including recreational vehicles, marine, and automotive aftermarket, prompting Myers to introduce cost-cutting initiatives expected to yield $15 million in annualized savings. Additionally, the company paid down $13 million in debt and is focused on reducing its leverage ratio to approximately 2x by the end of 2025. Consequently, Myers revised its full-year guidance to $0.92 to $1.02 adjusted earnings per diluted share, down from the previous range. Adjusted EBITDA for the quarter was $30.7 million, with an adjusted EBITDA margin of 15%, reflecting the high-margin profile of the Signature acquisition.Strong Performance of Signature Systems and Scepter
Signature Systems contributed significantly to gross margin expansion due to its differentiated product line. Scepter's sales increased by about 60% driven by military contracts and hurricane relief efforts.
Debt Reduction
Paid down $13 million in debt during the quarter, including $5 million of Term A loan and $8 million of the revolver.
Growth in Military Sales
Scepter is on track to exceed the 2024 forecast of $25 million in military sales, showing strong growth potential.
Adjusted EBITDA Growth
Adjusted EBITDA increased to $30.7 million from $25.6 million in the prior year, with a margin improvement to 15%.
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MYE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MYE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $11.58 | $11.26 | -2.76% |
| Aug 01, 2024 | $14.58 | $15.21 | +4.32% |
| May 07, 2024 | $22.30 | $17.67 | -20.76% |
| Mar 05, 2024 | $18.72 | $19.98 | +6.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Myers Industries (MYE) report earnings?
Myers Industries (MYE) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Myers Industries (MYE) earnings time?
Myers Industries (MYE) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MYE EPS forecast?
MYE EPS forecast for the fiscal quarter 2024 (Q4) is $0.1.
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