Myers Industries shares rise despite slight earnings miss By Investing.com

Myers Industries, known for polymer products, reported mixed Q3 earnings: adjusted EPS of 26 cents vs. expected 28 cents, and revenue of $205.4M vs. projected $206M. Despite slight revenue and EPS misses, shares rose 1.5% post-earnings. The company showed growth in key areas: 0.2% overall revenue increase, 4% EPS growth, and 5% gross profit jump. The Material Handling division's 2% revenue rise offset weakness in vehicle and consumer markets. However, the Distribution segment's 4% sales drop is a concern. Myers is on track to cut $20M in expenses and generated over $21M in free cash flow, more than double last year. The company maintains its fiscal 2025 outlook, expecting moderate industrial growth and solid infrastructure boost, but forecasting declines in vehicle, consumer, and automotive aftermarket businesses.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.