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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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