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Myers Industries (MYE)
NYSE:MYE
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Myers Industries
(NYSE:MYE)
Rating:66Neutral
Price Target:
$16.00
▲(4.37%Upside)
Myers Industries (MYE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$570.45M
Dividend Yield3.54%
Average Volume (3M)266.98K
Price to Earnings (P/E)54.5
Beta (1Y)0.84
Revenue Growth3.92%
EPS Growth-73.64%
CountryUS
Employees2,700
SectorConsumer Cyclical
Sector Strength59
IndustryPackaging & Containers
Share Statistics
EPS (TTM)0.22
Shares Outstanding37,382,290
10 Day Avg. Volume286,870
30 Day Avg. Volume266,975
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)3.11
Price to Sales (P/S)0.00
P/FCF Ratio16.52
Enterprise Value/Market Cap1.59
Enterprise Value/Revenue0.27
Enterprise Value/Gross Profit3.29
Enterprise Value/Ebitda2.51
Forecast
1Y Price Target
$21.00Price Target Upside36.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Myers Industries Business Overview & Revenue Model
Company DescriptionMyers Industries, Inc. is a diversified manufacturing and distribution company based in the United States. The company operates in two main segments: Material Handling and Distribution. In the Material Handling segment, Myers Industries designs and manufactures a wide range of plastic and rubber products for industrial, agricultural, automotive, commercial, and consumer markets. These products include storage and safety products, pallets, bulk containers, and specialty molded parts. The Distribution segment focuses on the distribution of tire, wheel, and under-vehicle service equipment. It serves customers primarily in the automotive aftermarket.
How the Company Makes MoneyMyers Industries generates revenue through the sale of its manufactured products and distribution services. In the Material Handling segment, revenue is derived from the manufacture and sale of products such as plastic containers, storage products, and other specialty items. This segment primarily serves the agriculture, food processing, and industrial sectors, contributing a substantial portion of the company’s earnings. The Distribution segment makes money by distributing tire service supplies and equipment, which includes tools, accessories, and other products essential for tire dealers and automotive service centers. This segment's revenue is driven by the automotive aftermarket demand, which is influenced by factors such as vehicle maintenance trends and the overall health of the automotive industry. Key revenue streams include direct sales to businesses, distributors, and through partnerships with other manufacturers and service providers.
Myers Industries Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 47.40%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. While there were notable improvements in margins, cost control, and successful acquisition integration, challenges persist with flat revenue growth, declines in the Distribution segment, and economic uncertainty affecting the vehicle market.Q1-2025 Updates
Positive Updates
Improved Margins and Cost Control
Margins improved as the company managed costs effectively. SG&A expenses were reduced as a percentage of sales, leading to an increase in EPS.
Successful Integration of Signature Acquisition
The Signature acquisition contributed to a 3.6% increase in Material Handling sales. The acquisition also delivered $12 million in cost synergies, exceeding the original $8 million target.
Resilience to Tariff Impacts
With a predominantly domestic supply chain and less than 15% of Distribution products sourced from China, the company expects minimal direct impact from tariffs.
Focused Transformation Program
The company is implementing a Focused Transformation program aimed at achieving $20 million in annualized cost savings by year-end 2025, primarily in SG&A.
Strong Liquidity Position
The company maintained total liquidity of $267 million, including $231.7 million of availability under the revolving credit facility.
Negative Updates
Flat Revenue Growth
First quarter revenue was flat year-over-year, with growth in Material Handling offset by softness in the Distribution segment.
Distribution Segment Decline
Distribution net sales decreased by 10.3% due to lower volume and pricing, impacting the segment's adjusted EBITDA.
Free Cash Flow Challenges
Operating cash flow was lower this quarter due to an increase in working capital related to accounts receivable timing and inventory build-up.
Economic Uncertainty in Vehicle Market
The vehicle end market, including RV and marine, is expected to decline due to economic uncertainty, tariff impacts, and high interest rates.
Company Guidance
In the call, Myers Industries provided guidance on several key metrics for 2025. First-quarter net sales were $206.8 million, remaining flat year-over-year, with growth in Material Handling, attributed to the Signature acquisition, offset by softness in the Distribution segment. Adjusted gross margin expanded by 80 basis points to 33.5%, driven by favorable product mix and cost management. Adjusted operating income increased to $18.7 million, improving the margin by 100 basis points to 9% of sales. The company also reported an adjusted EBITDA margin expansion of 170 basis points. Myers aims for annualized cost savings of $20 million by year-end 2025, primarily in SG&A, and has launched a $10 million share repurchase plan, with $1 million already repurchased. The company maintains a CapEx target of around 3% of sales and total liquidity of $267 million, aiming to support growth initiatives and return cash to shareholders. Looking ahead, Myers anticipates moderate growth in industrial applications, strong growth in infrastructure, and stable sales in consumer and food & beverage sectors, while the vehicle market is expected to decline due to economic uncertainties.Myers Industries Financial Statement Overview
Summary
Myers Industries demonstrates a stable financial profile with moderate profitability and effective cash management. While revenue growth has been challenging, the company maintains a reasonable balance sheet with manageable leverage. Continued focus on improving margins and revenue growth will be key to enhancing financial performance.Income Statement
The income statement shows moderate profitability with a gross profit margin of 33.0% and a net profit margin of 1.3% for TTM. Revenue growth has been inconsistent, showing a -7.1% decline from 2022 to 2023 and a slight decrease in TTM. EBIT and EBITDA margins are 6.0% and 10.2% respectively, indicating reasonable operational efficiency but with room for improvement in net profitability.65
Positive
Balance Sheet
The balance sheet indicates a stable financial position with a debt-to-equity ratio of 1.52, showing moderate leverage. The return on equity (ROE) is 3.8% for TTM, reflecting modest returns for shareholders. The equity ratio stands at 31.4%, suggesting a balanced capital structure, though maintaining a cautious eye on debt levels is advised.70
Positive
Cash Flow
Cash flow analysis reveals solid operational cash generation with an operating cash flow to net income ratio of 6.58. Free cash flow growth is healthy, though it declined from 2022 to 2023. The free cash flow to net income ratio is 4.03, highlighting effective cash management and potential for reinvestment or debt reduction.75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 835.93M | 836.28M | 813.07M | 899.55M | 761.43M | 510.37M |
| Gross Profit | 275.81M | 270.81M | 259.09M | 283.37M | 211.42M | 171.96M |
| EBITDA | 85.13M | 83.07M | 95.19M | 105.16M | 49.30M | 53.55M |
| Net Income | 10.50M | 7.20M | 48.87M | 60.27M | 33.54M | 36.77M |
Balance Sheet | ||||||
| Total Assets | 883.84M | 860.82M | 541.63M | 542.63M | 484.55M | 400.01M |
| Cash, Cash Equivalents and Short-Term Investments | 35.30M | 32.22M | 30.29M | 23.14M | 17.66M | 28.30M |
| Total Debt | 421.09M | 413.87M | 95.49M | 132.36M | 130.04M | 95.69M |
| Total Liabilities | 606.42M | 583.30M | 248.83M | 286.21M | 275.22M | 210.91M |
| Stockholders Equity | 277.42M | 277.51M | 292.80M | 256.43M | 209.32M | 189.10M |
Cash Flow | ||||||
| Free Cash Flow | 42.34M | 54.86M | 63.32M | 48.33M | 27.05M | 33.09M |
| Operating Cash Flow | 69.15M | 79.29M | 86.17M | 72.62M | 44.91M | 46.51M |
| Investing Cash Flow | -25.99M | -372.50M | -22.76M | -50.38M | -50.29M | -75.55M |
| Financing Cash Flow | -40.79M | 295.10M | -56.52M | -16.32M | -5.19M | -18.32M |
Myers Industries Technical Analysis
Positive
15.33
Price Trends
13.12
Positive
12.12
Positive
11.97
Positive
Market Momentum
0.63
Positive
67.52
Neutral
72.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYE, the sentiment is Positive. The current price of 15.33 is above the 20-day moving average (MA) of 14.71, above the 50-day MA of 13.12, and above the 200-day MA of 11.97, indicating a bullish trend. The MACD of 0.63 indicates Positive momentum. The RSI at 67.52 is Neutral, neither overbought nor oversold. The STOCH value of 72.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MYE.
Myers Industries Risk Analysis
Myers Industries disclosed 27 risk factors in its most recent earnings report. Myers Industries reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Myers Industries Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $579.41M | 19.24 | 19.64% | 6.24% | 6.21% | 1.47% | |
70 Outperform | $1.21B | 38.61 | 4.64% | 0.54% | 3.80% | -20.92% | |
66 Neutral | $2.79B | ― | -69.06% | 8.58% | 4.42% | 70.21% | |
66 Neutral | $570.45M | 54.52 | 3.69% | 3.54% | 3.92% | -73.64% | |
65 Neutral | $2.43B | ― | -13.85% | ― | -5.29% | 18.22% | |
63 Neutral | $16.67B | 10.96 | -6.97% | 3.00% | 1.72% | -24.21% | |
56 Neutral | $304.08M | ― | -3.89% | ― | 10.11% | 6.77% |
* Consumer Cyclical Sector Average
Performance Comparison
MYE
Myers Industries
15.31
2.23
17.05%
OI
O-I Glass
15.61
4.45
39.87%
TRS
Trimas
29.96
4.84
19.27%
PACK
Ranpak Holdings
3.67
-3.12
-45.95%
KRT
Karat Packaging Inc
29.28
2.08
7.65%
AMBP
Ardagh Metal Packaging
4.70
1.54
48.73%
Myers Industries Corporate Events
Stock BuybackBusiness Operations and StrategyFinancial Disclosures
Myers Industries Reports Strong Q1 2025 Results
Positive
May 1, 2025
On May 1, 2025, Myers Industries announced its first-quarter results, highlighting improvements in gross profit, operating income, and earnings per share despite flat sales. The company attributed these gains to its Signature acquisition and strong performance in its Scepter military products. Myers Industries also reported a reduction in SG&A expenses, reflecting progress in its ‘Focused Transformation’ efforts, which aim to enhance financial performance and foster a culture of accountability. The company activated a $10 million share repurchase program and emphasized its U.S.-based manufacturing as a strategic advantage in providing supply chain options and mitigating tariff impacts.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.