AKRON, Ohio--(BUSINESS WIRE)-- Myers Industries Inc. (NYSE: MYE), a leading manufacturer of Products that Protect™, today announced results for the second quarter ended June 30, 2026.

Myers Industries President and CEO Aaron Schapper commented, “Our second quarter results reflect continued execution against our Focused Transformation initiatives and the disciplined actions we have taken to improve the quality of the business. We posted outstanding revenue growth, expanded profitability, generated strong cash flow, and remain focused on serving our customers. The results we have achieved through the first half of 2026, combined with our simplified portfolio, operational improvements and growth investments, position us to sustain our momentum and strengthen our confidence to continue delivering consistent financial performance and long-term value for our shareholders.”

Second Quarter 2026 Financial Summary

• Net sales increased 13% excluding the impact from our decision to exit approximately $5 million low-margin products with the idling of two rotational molding facilities in the fourth quarter of 2025. Infrastructure grew 52% and Food & Beverage grew 48%, offset by soft Vehicle and Consumer demand, down 19% and 14%, respectively.
• Gross profit and Operating income increased due to improved volume and mix, price, and lower manufacturing costs from our Focused Transformation program, which collectively more than offset higher material costs.

Balance Sheet & Cash Flow

• Total liquidity was $292.3 million, including $244.7 million of availability under the revolving credit facility and $47.6 million in cash on hand.
  • On July 28, 2026, the company amended its credit agreement to refinance its existing credit facilities with a new $250 million Revolving Credit Facility and a new $250 million Term Loan. Maturity date of the revolver and the new Term Loan extended from 2027 and 2029 respectively, to 2031.
• Cash flow from operations was $32.1 million, free cash flow was $26.5 million, and capital expenditures were $5.6 million.
• Net debt as defined by the credit agreement was reduced by $21.2 million while the net leverage ratio improved to 1.9x from 2.2x in the previous quarter.

2026 End Market Outlook

The following table presents the Company’s current 2026 outlook for each of its end markets.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Thursday, July 30, 2026, at 10:00 a.m. ET. The call is anticipated to last one hour and may be accessed via live webcast or a replay, by visiting the Company's website www.myersindustries.com and clicking on the Investor Relations tab. An archived replay of the call will also be available shortly after the event.

Use of Non-GAAP Financial Measures

The Company uses certain non-GAAP measures in this release. Adjusted gross profit, adjusted gross margin, adjusted operating income (loss), adjusted operating income margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA margin, adjusted net income, adjusted earnings per diluted share (adjusted EPS), and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. Myers Industries believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release.

About Myers Industries

Myers Industries Inc., based in Akron, Ohio, is a leading manufacturer of sustainable plastic and metal Products that Protect™ for Consumer, Vehicle, Food & Beverage, Industrial, and Infrastructure end markets. Myers Industries has a rich history that is built on strong brands and innovative products. Through years of continuous product development and strategic acquisitions, we have established ourselves as a leading diversified industrial company. We provide critical solutions to our customers, delivering exceptional value. Visit www.myersindustries.com to learn more.

Caution on Forward-Looking Statements

Statements in this release include “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including information regarding the Company’s financial outlook, future plans, objectives, business prospects and anticipated financial performance. Forward-looking statements can be identified by words such as “will,” “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” or variations of these words, or similar expressions. These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, these statements inherently involve a wide range of uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. The Company’s actual actions, results, and financial condition may differ materially from what is expressed or implied by the forward-looking statements.

Specific factors that could cause such a difference on our business, financial position, results of operations and/or liquidity include, without limitation, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world, including the impacts of U.S. and foreign tariff policies; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; unforeseen events, including natural disasters, unusual or severe weather events and patterns, public health crises, geopolitical crises, and other catastrophic events; our ability to successfully execute our announced intended divestiture of the Myers Tire Supply business; and other risks and uncertainties detailed from time to time in the Company’s filings with the SEC, including without limitation, the risk factors disclosed in Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Given these factors, as well as other variables that may affect our operating results, readers should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, nor use historical trends to anticipate results or trends in future periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company expressly disclaims any obligation or intention to provide updates to the forward-looking statements and the estimates and assumptions associated with them.

M-INV

Source: Myers Industries, Inc.