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Myers Industries (MYE)
NYSE:MYE
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.19Last Year’s EPS
0.21Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 06, 2025
|% Change Since: 27.70%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture, with strong growth in certain segments like Material Handling and a robust transformation plan to improve efficiency and shareholder value. However, significant challenges remain in the Distribution segment and Buckhorn business, along with increased interest expenses impacting earnings.Company Guidance
During the call, Myers Industries announced several key metrics and initiatives as part of their guidance for fiscal year 2024. They reported a fourth-quarter net sales increase of 6.7% to $203.9 million, with notable growth of 33% in the consumer end market and 13% in the industrial end market. Adjusted gross margin improved by 210 basis points to 32.2%, while adjusted EBITDA increased by 26.2% with a margin of 13.5%. The company is launching a Focused Transformation program aimed at achieving $20 million in annualized cost savings by the end of 2025, primarily through a 10% reduction in SG&A expenses. Additionally, Myers Industries announced a $10 million share repurchase authorization and plans to maintain a CapEx target of around 3% of sales. They are temporarily suspending formal annual guidance to refine their strategic action plan but expressed confidence in continued margin improvements for 2025.Solid Fourth Quarter Results
Fourth quarter net sales were $203.9 million, an increase of 6.7% year-over-year. Adjusted gross margin increased by 210 basis points to 32.2%, and adjusted EBITDA was up 26.2%.
Strong Performance in Material Handling
The Material Handling segment saw a 20.3% increase in net sales compared to the prior year, driven by the Signature acquisition and strong sales of Scepter products, which grew by 48%.
Initiation of Focused Transformation Program
A focused transformation program was announced, aimed at achieving $20 million in annualized cost savings by the end of 2025, primarily in SG&A.
New Share Repurchase Program
A new $10 million share repurchase program was announced, reflecting confidence in the business and commitment to returning cash to shareholders.
E-commerce Growth
The e-commerce channel saw $36 million in sales, growing 12% year-over-year.
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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 |
|---|---|---|---|
| Mar 06, 2025 | $9.64 | $12.34 | +28.01% |
| Nov 04, 2024 | $11.45 | $11.14 | -2.71% |
| Aug 01, 2024 | $14.43 | $15.05 | +4.30% |
| May 07, 2024 | $22.06 | $17.48 | -20.76% |
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 May 01, 2025, TBA Not Confirmed.
What is Myers Industries (MYE) earnings time?
Myers Industries (MYE) earnings time is at May 01, 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 2025 (Q1) is 0.19.
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