Loading...
•
Sep 30, 2020
Myers Industries Q3 2020 Earnings Report
Increased demand and focused execution drove sales growth and margin expansion.
Key Takeaways
Myers Industries reported a strong third quarter, exceeding expectations with sales growth and margin expansion. Net sales increased by 5.4% to $132.3 million, and gross margin improved to 35.6%. The company also unveiled a new strategic vision aimed at transforming Myers into a high-growth innovator of engineered plastic solutions.
GAAP EPS was $0.24, compared to $0.15 in Q3 2019.
Adjusted EPS was $0.30, compared to $0.15 in Q3 2019.
Net sales increased 5.4% to $132.3 million compared to $125.5 million in Q3 2019.
Gross margin increased to 35.6%, compared to 31.5% in Q3 2019.
Myers Industries
Myers Industries
Myers Industries Revenue by Segment
Revenue by Segment
Material Handling Revenue
CapyFin.comDistribution Revenue
CapyFin.com Forward Guidance
The Company has revised its outlook for 2020 revenue. The Company now expects full-year revenue to decline in the low-to-mid single digits, which is a slight improvement from its previous guidance of a decline in the mid-to-high single digit range. The Company does not expect the events that drove sales in the consumer end market to recur in the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income