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An announcement from Myers Industries ( (MYE) ) is now available.
Myers Industries reported third quarter 2024 financial results, highlighting improved gross margins and adjusted EBITDA due to strong performance from Signature Systems and the military sector. Despite facing demand challenges in some markets like Food and Beverage, the company focused on cost reduction, aiming for $15 million in savings by 2025. Net sales rose to $205.1 million, but the company saw a net loss of $10.9 million, impacted by a $22 million non-cash goodwill impairment charge. Myers revised its full-year earnings guidance to $0.92-$1.02 per share, reinforcing commitment to operational improvements amidst macro-economic pressures.
See more insights into MYE stock on TipRanks’ Stock Analysis page.
