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1. Company Snapshot

1.a. Company Description

Myers Industries, Inc.engages in distribution of tire service supplies in Ohio.It operates through The Material Handling and Distribution segments.


The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.It serves industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational, and marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer markets, and other markets under Akro-Mils, Jamco, Buckhorn, Ameri-Kart, Scepter, Elkhart Plastics, and Trilogy Plastics brands directly, as well as through distributors.The Distribution segment engages in the distribution of tools, equipment, and supplies for tire, wheel, and undervehicle service on passenger, heavy truck, and off-road vehicles; and manufacture and sale of tire repair materials and custom rubber products, as well as reflective highway marking tapes.


This segment serves retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire re-treaders, truck stop operations, and government agencies.The company was founded in 1933 and is headquartered in Akron, Ohio.

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1.b. Last Insights on MYE

The recent 3 months performance of Myers Industries, Inc. was negatively impacted by the resignation of CFO Grant Fitz, effective April 3, 2025, and the subsequent appointment of Daniel Hoehn to the interim role. This leadership change may create uncertainty and disrupt the company's financial planning and execution. Additionally, the lack of recent earnings release data makes it challenging to assess the company's current financial performance.

1.c. Company Highlights

2. Myers Industries' Q3 2025 Earnings: A Step in the Right Direction

Myers Industries reported net sales of $205.4 million for the third quarter of 2025, a slight increase year-over-year. The company's adjusted EPS came in at $0.26, beating estimates of $0.25, while the actual EPS was $0.19. The adjusted gross margin expanded by 150 basis points to 33.9% due to higher volume, favorable mix, and lower material costs. New CFO Samantha Rutty noted that the improvement in adjusted gross margin was a result of the company's focus on optimizing its portfolio and improving performance. Adjusted operating margin improved 20 basis points to 10.2%, despite higher SG&A expenses.

Publication Date: Nov -23

📋 Highlights
  • Net Sales Growth:: Q3 2025 net sales reached $205.4 million, slightly higher YoY, driven by Infrastructure and industrial growth despite weak Automotive Aftermarket and consumer demand.
  • Improved Earnings:: Earnings per share (EPS) rose to $0.19, with adjusted EPS climbing to $0.26, reflecting year-over-year improvement in profitability.
  • Free Cash Flow Surge:: Free cash flow doubled to $21.5 million, aided by working capital focus and reduced capital spending, with $22 million in cash flow generated in Q3.
  • Margin Expansion:: Adjusted gross margin increased 150 basis points to 33.9%, and operating margin improved 20 basis points to 10.2% despite higher SG&A expenses.
  • Strategic Cost Savings:: Progress on cost reduction targets, achieving $20 million in annualized savings by 2025, with $10 million debt reduction and $500,000 in share repurchases.

Segment Performance and Outlook

The company's Infrastructure and industrial growth offset soft demand in Automotive Aftermarket and vehicle end-markets, as well as lower consumer sales due to a lack of weather-driven events. Myers updated its market outlook for 2025, expecting industrial growth driven by demand for military products, strong infrastructure spending, and stable food and beverage sales. However, vehicle end-markets are expected to be down due to economic uncertainty, and consumer sales are expected to be lower due to less storm-related activity.

Transformation Program Progress

Myers made progress on its focused transformation program, completing a strategic review of its MTS business and deciding to sell it. This divestiture will help optimize the company's portfolio and improve margins. The company is confident in its ability to drive continuous improvement and create long-term value for shareholders. With a strong backlog and improving margins, Myers is well-positioned for future growth.

Valuation and Growth Prospects

With a P/E Ratio of 23.17 and an EV/EBITDA of 10.19, the market is pricing in a certain level of growth for Myers Industries. Analysts estimate revenue growth of 1.0% for next year. The company's ROIC is 6.77%, and ROE is 9.91%, indicating a decent return on capital and equity. The Dividend Yield is 3.12%, providing a relatively stable source of return for investors. With a strong free cash flow quarter and a focus on working capital, Myers is well-positioned to drive future growth.

3. NewsRoom

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Intech Investment Management LLC Sells 5,269 Shares of Myers Industries, Inc. $MYE

Dec -01

Source: defenseworld.net

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Myers Industries Appoints Kari Brashear as Chief Legal Officer, Corporate Secretary, and Senior VP of Business Development

Nov -13

Source: businesswire.com

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Myers Industries, Inc. $MYE Shares Acquired by Y Intercept Hong Kong Ltd

Nov -03

Source: defenseworld.net

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Myers Industries, Inc. (MYE) Q3 2025 Earnings Call Transcript

Oct -30

Source: seekingalpha.com

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Myers (MYE) Q3 Earnings and Revenues Beat Estimates

Oct -30

Source: zacks.com

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Myers Industries Announces Third Quarter 2025 Results

Oct -30

Source: businesswire.com

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Myers Industries Announces Reporting Date and Conference Call for 2025 Third Quarter Results

Oct -02

Source: businesswire.com

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Myers Industries Doesn't Deserve A Downgrade Here

Sep -29

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.63%)

6. Segments

Material Handling

Expected Growth: 7%

Myers Industries' Material Handling segment growth is driven by increasing demand for storage and logistics solutions, e-commerce growth, and investments in automation and digitalization. Additionally, the segment benefits from a strong presence in the aftermarket and a diversified customer base across industries, contributing to its 7% growth.

Distribution

Expected Growth: 9%

Myers Industries, Inc.'s 9% distribution growth is driven by increasing demand for plastic reusable containers and pallets, expansion in e-commerce and grocery retail, and strategic acquisitions. Additionally, the company's focus on operational efficiency, cost savings, and product innovation also contribute to its growth momentum.

Inter-company Sales

Expected Growth: 6%

Myers Industries, Inc.'s 6% inter-company sales growth is driven by increasing demand for its material handling and distribution products, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on operational efficiency and cost savings initiatives have contributed to the growth. Furthermore, the company's diversified customer base and product offerings have helped to mitigate risks and drive sales growth.

7. Detailed Products

Material Handling Solutions

Myers Industries, Inc. offers a range of material handling solutions, including plastic reusable containers, pallets, and bulk containers, designed to optimize supply chain efficiency and reduce costs.

Returnable Packaging

The company provides returnable packaging solutions, including reusable containers, totes, and crates, designed to reduce waste and minimize environmental impact.

Custom Molding

Myers Industries, Inc. offers custom molding services, producing plastic parts and components for various industries, including automotive, industrial, and consumer products.

Akers Packaging

The company provides a range of packaging solutions, including corrugated boxes, paper products, and specialty packaging, designed to protect and transport goods.

Distribution and Fulfillment

Myers Industries, Inc. offers distribution and fulfillment services, including warehousing, order fulfillment, and logistics management.

8. Myers Industries, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Myers Industries, Inc. is moderate due to the availability of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the concentration of buyers in the market, giving them significant negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the availability of multiple suppliers and the company's ability to switch suppliers if needed.

Threat Of New Entrants

The threat of new entrants is moderate due to the moderate barriers to entry and the availability of resources and technology.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several competitors in the market, leading to a highly competitive environment.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 18.06%
Debt Cost 8.99%
Equity Weight 81.94%
Equity Cost 10.56%
WACC 10.27%
Leverage 22.04%

11. Quality Control: Myers Industries, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 5.7/10

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.33$

Current Price

18.33$

Potential

-0.00%

Expected Cash-Flows