Short interest for Myers Indus gives investors a sense of the degree to which investors are betting on the decline of Myers Indus's stock. Short interest data is updated every two weeks.

Myers Indus Stock (NYSE:MYE), Short Interest Report

Myers Indus

Myers Industries Inc designs, manufactures, and markets a variety of plastic, metal, and rubber products, including a broad selection of plastic reusable containers, pallets, small parts bins, bulk shipping containers, storage and organization products, OEM parts, custom plastic products, consumer fuel containers and tanks for water, fuel and waste handling. It operates through the following segments: The Material Handling segment, which designs manufactures, and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under-vehicle service on passenger, heavy truck, and off-road vehicles. It generates the majority of its revenue from the Material Handling segment.

Myers Industries

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Myers Industries, Inc (NYSE: MYE) and Signature Systems are planning a $350-million merger.

Myers Industries Buys Industrial Ground Protection Firm Signature Systems For $350M

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Myers Industries Inc

Keybanc analyst Steve Barger maintains Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) with a Overweight and raises the price target from $22 to $30.

Price Target

Analyst Ratings

Keybanc Maintains Overweight on Myers Indus, Raises Price Target to $30

Guidance

Myers Industries Hosts Investor Day; Outlines Strategy To Drive Profitable Growth And Provides Outlook Through FY26

WIIM

Myers Industries shares are trading higher after the company reported better-than-expected Q4 adjusted EPS results and issued FY24 adjusted EPS guidance above estimates.

Myers Industries Sees FY24 Adj EPS of $1.30 - $1.45 Vs. $1.2 Est.

Myers Industries Sees FY24 Sales Growth Of 15% - 20%

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) reported quarterly adjusted earnings of $0.29 per share which beat the analyst consensus estimate of $0.26 by 11.54 percent. This is a 9.38 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $191.08 million which missed the analyst consensus estimate of $196.19 million by 2.61 percent. This is a 10.23 percent decrease over sales of $212.84 million the same period last year.

Earnings

Myers Indus Q4 Adj EPS $0.29 Beats $0.26 Estimate, Sales $191.08M Miss $196.19M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is estimated to report quarterly loss at $0.51 per share on revenue of $2.29 billion.
&bull; Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) is estimated to report quarterly earnings at $2.22 per share on revenue of $29.33 billion.
&bull; 2seventy bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSVT#NASDAQ">TSVT</a>) is expected to report quarterly loss at $0.99 per share on revenue of $14.71 million.
&bull; CLPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLPS#NASDAQ">CLPS</a>) is expected to report earnings for its first quarter.
&bull; Seres Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRB#NASDAQ">MCRB</a>) is projected to report quarterly loss at $0.50 per share on revenue of $350 thousand.
&bull; Vivid Seats (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEAT#NASDAQ">SEAT</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $183.67 million.
&bull; Nuwellis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) is projected to report quarterly loss at $1.39 per share on revenue of $2.55 million.
&bull; Consolidated Comms Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSL#NASDAQ">CNSL</a>) is likely to report quarterly loss at $0.36 per share on revenue of $276.94 million.
&bull; CECO Environmental (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CECO#NASDAQ">CECO</a>) is likely to report quarterly earnings at $0.24 per share on revenue of $146.61 million.
&bull; 908 Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASS#NASDAQ">MASS</a>) is expected to report quarterly loss at $0.26 per share on revenue of $14.16 million.
&bull; Neuronetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) is projected to report quarterly loss at $0.26 per share on revenue of $19.85 million.
&bull; Broadwind (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWEN#NASDAQ">BWEN</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $50.15 million.
&bull; Global Business Travel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTG#NYSE">GBTG</a>) is projected to report quarterly loss at $0.03 per share on revenue of $541.17 million.
&bull; Riskified (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSKD#NYSE">RSKD</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $84.02 million.
&bull; Angel Oak Mortgage REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOMR#NYSE">AOMR</a>) is expected to report quarterly earnings at $0.18 per share on revenue of $9.00 million.
&bull; L.B. Foster (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSTR#NASDAQ">FSTR</a>) is expected to report quarterly earnings at $0.01 per share on revenue of $129.35 million.
&bull; Rand Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAND#NASDAQ">RAND</a>) is expected to report earnings for its fourth quarter.
&bull; Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) is likely to report earnings for its fourth quarter.
&bull; Sophia Genetics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPH#NASDAQ">SOPH</a>) is projected to report quarterly loss at $0.26 per share on revenue of $17.33 million.
&bull; First Watch Restaurant Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRG#NASDAQ">FWRG</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $237.53 million.
&bull; Compugen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEN#NASDAQ">CGEN</a>) is likely to report quarterly earnings at $0.22 per share on revenue of $20.00 million.
&bull; SmartRent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMRT#NYSE">SMRT</a>) is likely to report quarterly loss at $0.01 per share on revenue of $59.49 million.
&bull; Ferguson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is estimated to report quarterly earnings at $1.85 per share on revenue of $6.77 billion.
&bull; Cipher Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NASDAQ">CIFR</a>) is estimated to report quarterly loss at $0.04 per share on revenue of $41.78 million.
&bull; Axogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXGN#NASDAQ">AXGN</a>) is likely to report quarterly loss at $0.10 per share on revenue of $41.65 million.
&bull; V2X (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVX#NYSE">VVX</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $1.01 billion.
&bull; Wag Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PET#NASDAQ">PET</a>) is likely to report earnings for its fourth quarter.
&bull; Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) is expected to report quarterly earnings at $0.26 per share on revenue of $196.19 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $197.70 million.
&bull; Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) is estimated to report quarterly earnings at $0.88 per share on revenue of $4.39 billion.
&bull; BlackRock Cap Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKCC#NASDAQ">BKCC</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $20.32 million.
&bull; Presto Automation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRST#NASDAQ">PRST</a>) is likely to report earnings for its fourth quarter.
&bull; Kingsway Financial Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFS#NYSE">KFS</a>) is likely to report earnings for its fourth quarter.
&bull; Emergent BioSolutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) is expected to report quarterly loss at $0.19 per share on revenue of $293.53 million.
&bull; Cumberland (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPIX#NASDAQ">CPIX</a>) is likely to report earnings for its fourth quarter.
&bull; TRACON Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCON#NASDAQ">TCON</a>) is likely to report quarterly loss at $0.08 per share on revenue of $1.00 million.
&bull; Entravision Comms (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVC#NYSE">EVC</a>) is projected to report quarterly earnings at $0.07 per share on revenue of $308.47 million.
&bull; Bionano Genomics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNGO#NASDAQ">BNGO</a>) is projected to report quarterly loss at $0.87 per share on revenue of $10.58 million.
&bull; Inspirato (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPO#NASDAQ">ISPO</a>) is likely to report quarterly loss at $3.66 per share on revenue of $73.50 million.
&bull; Marinus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNS#NASDAQ">MRNS</a>) is expected to report quarterly loss at $0.62 per share on revenue of $8.01 million.
&bull; Allient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNT#NASDAQ">ALNT</a>) is expected to report quarterly earnings at $0.32 per share on revenue of $132.56 million.
&bull; Bristow Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTOL#NYSE">VTOL</a>) is projected to report quarterly earnings at $0.54 per share on revenue of $329.20 million.
&bull; Greenlight Capital Re (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLRE#NASDAQ">GLRE</a>) is estimated to report earnings for its fourth quarter.
&bull; Rigel Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIGL#NASDAQ">RIGL</a>) is estimated to report quarterly loss at $0.03 per share on revenue of $34.10 million.
&bull; Plus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTV#NASDAQ">PSTV</a>) is projected to report quarterly loss at $1.07 per share on revenue of $1.06 million.
&bull; Socket Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCKT#NASDAQ">SCKT</a>) is estimated to report quarterly loss at $0.06 per share on revenue of $4.91 million.
&bull; Nyxoah (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYXH#NASDAQ">NYXH</a>) is expected to report quarterly loss at $0.40 per share on revenue of $1.95 million.
&bull; Park-Ohio Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PKOH#NASDAQ">PKOH</a>) is likely to report quarterly earnings at $0.55 per share on revenue of $386.45 million.
&bull; W&amp;T Offshore (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTI#NYSE">WTI</a>) is expected to report quarterly earnings at $0.01 per share on revenue of $138.42 million.
&bull; Cadre Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDRE#NYSE">CDRE</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $121.79 million.
&bull; Semler Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMLR#NASDAQ">SMLR</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $14.50 million.
&bull; Agiliti (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGTI#NYSE">AGTI</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $291.41 million.
&bull; Nuvei (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVEI#NASDAQ">NVEI</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $319.51 million.
&bull; Franco-Nevada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) is estimated to report quarterly earnings at $0.84 per share on revenue of $283.00 million.
&bull; Mayville Engineering (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEC#NYSE">MEC</a>) is projected to report quarterly earnings at $0.13 per share on revenue of $152.30 million.
&bull; Aquestive Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQST#NASDAQ">AQST</a>) is likely to report quarterly loss at $0.08 per share on revenue of $11.63 million.
&bull; Orthofix Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OFIX#NASDAQ">OFIX</a>) is expected to report earnings for its fourth quarter.
&bull; MeridianLink (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLNK#NYSE">MLNK</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $74.86 million.
&bull; Ross Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) is likely to report earnings for its fourth quarter.
&bull; Cerus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) is expected to report quarterly loss at $0.02 per share on revenue of $49.27 million.
&bull; American Public Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APEI#NASDAQ">APEI</a>) is projected to report quarterly earnings at $0.14 per share on revenue of $150.47 million.
&bull; Cricut (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRCT#NASDAQ">CRCT</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $249.68 million.
&bull; Crexendo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXDO#NASDAQ">CXDO</a>) is projected to report quarterly earnings at $0.04 per share on revenue of $13.80 million.
&bull; Aeva Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEVA#NYSE">AEVA</a>) is likely to report quarterly loss at $0.15 per share on revenue of $1.57 million.
&bull; LSB Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXU#NYSE">LXU</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $127.21 million.
&bull; PlayAGS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGS#NYSE">AGS</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $92.57 million.
&bull; Full House Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLL#NASDAQ">FLL</a>) is likely to report quarterly loss at $0.14 per share on revenue of $63.13 million.
&bull; CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is expected to report quarterly earnings at $0.82 per share on revenue of $839.04 million.
&bull; HashiCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>) is expected to report quarterly earnings at $0.01 per share on revenue of $149.29 million.
&bull; Banco BBVA Argentina (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAR#NYSE">BBAR</a>) is estimated to report earnings for its fourth quarter.
&bull; NeuroPace (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NPCE#NASDAQ">NPCE</a>) is expected to report quarterly loss at $0.31 per share on revenue of $17.46 million.
&bull; Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) is projected to report earnings for its fourth quarter.
&bull; Ooma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $61.46 million.
&bull; ChargePoint Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) is likely to report quarterly loss at $0.13 per share on revenue of $119.59 million.
&bull; ODDITY Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODD#NASDAQ">ODD</a>) is expected to report earnings for its fourth quarter.
&bull; NewtekOne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEWT#NASDAQ">NEWT</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $63.35 million.
&bull; Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $262.95 million.
&bull; Weyco Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEYS#NASDAQ">WEYS</a>) is projected to report earnings for its fourth quarter.
&bull; Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) is likely to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For March 5, 2024

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-03-05. Here's what investors need to know before the announcement.
Analysts estimate that Myers Indus will report an earnings per share (EPS) of $0.26. 
Myers Indus bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.05, which was followed by a 6.55% increase in the share price the next day.
Here's a look at Myers Indus's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.43</td>
<td>0.39</td>
<td>0.36</td>
<td>0.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.38</td>
<td>0.35</td>
<td>0.38</td>
<td>0.32</td>
</tr>
<tr>
<td>Price Change %</td>
<td>7.000000000000001%</td>
<td>-1.0%</td>
<td>5.0%</td>
<td>-5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709560954_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Myers Indus were trading at $19.22 as of March 01. Over the last 52-week period, shares are down 3.84%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MYE/earnings">To track all earnings releases for Myers Indus visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Myers Indus

Myers Industries, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mye#NYSE">MYE</a>) and Signature Systems are planning <a href="http://www.benzinga.com/pressreleases/24/01/b36450299/myers-industries-announces-acquisition-of-signature-systems">a $350-million merger</a>.
The transaction will be financed through a new $350 million credit facility.&nbsp;
Signature has projected 2023 revenue, operating income, and Adjusted EBITDA of approximately $122 million, $24 million and $44 million, respectively.
The transaction is expected to close in the first quarter of 2024 and deliver EPS accretion of 20 cents - 30 cents in 2025, 40 cents - 50 cents in 2026 and additional meaningful EPS accretion beyond 2026.
Annualized run-rate operational and cost synergies of $8 million are expected to be fully obtained by 2025.
&ldquo;This acquisition is a catalyst in the transformation of Myers Industries and firmly moves us into Horizon Two of our Three Horizon strategy,&rdquo; said CEO Mike McGaugh.
Moelis &amp; Company LLC advised Myers on the transaction.
Myers held <a href="https://www.benzinga.com/pressreleases/23/11/b35532050/myers-industries-announces-third-quarter-2023-results">$24.8 million in cash and equivalents</a> as of Sep. 30.
Myers manufactures&nbsp;a wide range of polymer products for industrial, agricultural, automotive, commercial and consumer markets.
Price Action: MYE shares are trading higher by 0.15% at $19.58 on the last check Tuesday.

Signature Systems, a global ground protection leader, bolsters Myers' margin and profitability profile, and provides an attractive platform for continued growth
The Signature Systems acquisition enhances Myers' traditional strength of free cash flow generation and advances Myers from Horizon 1 to Horizon 2 in its strategic growth plan
Acquisition delivers $8 million in annualized operational and cost synergies implemented by 2025
US GAAP EPS projected to be flat to slightly dilutive in 2024, with $0.20 - $0.30 per share accretion in 2025, $0.40 - $0.50 per share accretion in 2026 and additional meaningful accretion beyond 2026
Myers Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) ("Myers" or the "Company"), a leading manufacturer and distributor of industrial products, today announced that it has entered into an Agreement and Plan of Merger through which it will acquire Signature Systems ("Signature"), a leader in composite ground protection solutions.
"Signature Systems is a meaningful catalyst in the transformation of Myers Industries. Signature aligns extremely well with our targeted acquisition criteria: Signature has a leading market position, with branded and differentiated products, serving fast-growing end markets. Signature provides Myers an attractive complementary platform for long-term growth driven by world-wide investments in infrastructure over the next decade," said Mike McGaugh, CEO of Myers. "The addition of Signature Systems immediately strengthens our profitability and cash flow profile and will support Myers in achieving our Horizon 1 goals of one billion dollars in revenue at a 15% EBITDA margin. We are especially pleased to be acquiring a high-margin business with an established growth track record, as well as a favorable sustainability profile. Signature builds on our current technology capabilities, and we are excited about the opportunities to drive even greater shareholder and customer value by applying the Commercial and Operational Excellence best practices of the Myers Business System."
Based in Flower Mound, TX with production operations in Orlando, FL, Signature's products are complementary to those sold by Myers. The company is a leading manufacturer and distributor of high-quality, branded composite ground protection products and is also a leading provider of turf protection solutions for stadiums and event venues in North America. Signature has projected 2023 revenue, operating income, and Adjusted EBITDA of approximately $122 million, $24 million and $44 million, respectively.
Signature CEO Jeff Condino said, "We look forward to joining the Myers Industries team and for Signature to represent an important and complementary addition to the combined Company. Signature's business continues to benefit from powerful tailwinds in infrastructure investments. Our highly engineered ground protection products are well positioned for continued growth due to the conversion from wood products to composite matting solutions. Our vision for the future of Signature aligns with Myers long-term strategy and we are confident that our cultures are equally well aligned."
Myers will acquire Signature for a total consideration of approximately $350 million, subject to customary adjustments. The transaction is expected to close in the first quarter of 2024 and to be neutral to slightly dilutive to US GAAP EPS in 2024, but then deliver EPS accretion of $0.20-$0.30 in 2025, $0.40 - $0.50 in 2026 and additional meaningful EPS accretion beyond 2026. Annualized run-rate operational and cost synergies of $8 million are expected to be fully captured by 2025.
The transaction will be financed through a new $350 million credit facility. Projected net leverage ratio, as defined in the credit facility, is within Myers' strategy of having a net leverage ratio of approximately 3x at the time of acquisition, with combined free cashflow expected to allow for paydown to under 2x within two years of closing.
Mr. McGaugh concluded, "We are excited to welcome the Signature team to Myers. This acquisition is a catalyst in the transformation of Myers Industries and firmly moves us into Horizon Two of our Three Horizon strategy. We anticipate disclosing full year 2023 pro-forma financial results for the new combined Company during the first quarter of 2024 and are looking forward to discussing these results and unveiling our new long-term re-positioning of the Company at an Investor Day event in March of 2024 in New York City."
A slide presentation with additional background information and transaction details is now available in the Events &amp; Presentations section of Myers' investor relations website.
Moelis &amp; Company LLC served as exclusive financial advisor to Myers with respect to the transaction, while Vorys, Sater, Seymour and Pease LLP and Davis Polk &amp; Wardwell LLP provided legal counsel. William Blair &amp; Company LLC served as exclusive financial advisor and Honigman LLP served as legal counsel to Signature.
Use of Non-GAAP Financial Measures
Myers refers to certain non-GAAP measures in this release. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and EBITDA margin 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 believes that such information provides an additional measurement and consistent historical comparison of the Company's performance.

Myers Industries Announces Acquisition Of Signature Systems For A Total Consideration Of Approximately $350M, Financed Through A New $350M Credit Facility

Keybanc analyst Steve Barger maintains Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) with a Overweight and raises the price target from $21 to $22.

Keybanc Maintains Overweight on Myers Indus, Raises Price Target to $22

Keybanc analyst Steve Barger maintains Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) with a Overweight and lowers the price target from $27 to $21.

Keybanc Maintains Overweight on Myers Indus, Lowers Price Target to $21

2023 Outlook
Based on current exchange rates, market outlook, and business forecast, the Company revised its outlook for fiscal 2023, and currently forecasts:
<ul>
<li>Net sales decline in the mid to high single digit range</li>
<li>Net income per diluted share in the range of $1.20 to $1.28</li>
<li>Lowered adjusted earnings per diluted share range of $1.35 to $1.40</li>
<li>Capital expenditures to be in the range of $25 to $30 million</li>
<li>Effective tax rate to approximate 25%</li>
</ul>

Myers Industries Expects FY23 Net Sales To Decline In The Mid To High Single Digit Range (Prior Decline In The Mid-Single Digit Range); Sees Adjusted EPS Of $1.35 To $1.40 (Prior $1.55 To $1.85) Vs. $1.56 Consensus

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) reported quarterly earnings of $0.38 per share which missed the analyst consensus estimate of $0.43 by 11.63 percent. This is a 7.32 percent decrease over earnings of $0.41 per share from the same period last year. The company reported quarterly sales of $197.80 million which missed the analyst consensus estimate of $220.74 million by 10.39 percent. This is a 13.27 percent decrease over sales of $228.06 million the same period last year.

Myers Indus Q3 EPS $0.38 Misses $0.43 Estimate, Sales $197.80M Miss $220.74M Estimate

Myers Industries Sees FY23 Capital Expenditures $25M-$30M

Myers Industries Sees FY23 EPS $1.55-$1.85 Vs $1.66 Est

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) reported quarterly earnings of $0.35 per share which missed the analyst consensus estimate of $0.39 by 10.26 percent. This is a 22.22 percent decrease over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $208.45 million which missed the analyst consensus estimate of $222.80 million by 6.44 percent. This is a 10.60 percent decrease over sales of $233.16 million the same period last year.

Myers Indus Q2 Adj EPS $0.35 Misses $0.39 Estimate, Sales $208.45M Miss $222.80M Estimate

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) reported its Q1 earnings results on Thursday, May 4, 2023 at 06:30 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Myers Indus beat estimated earnings by 5.56%, reporting an EPS of $0.38 versus an estimate of $0.36.
Revenue was down $9.75 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.03 which was followed by a 5.21% drop in the share price the next day.
Here's a look at Myers Indus's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
<th>Q1 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.29</td>
<td>0.32</td>
<td>0.38</td>
<td>0.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.32</td>
<td>0.41</td>
<td>0.45</td>
<td>0.50</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>220.63M</td>
<td>224.80M</td>
<td>217.54M</td>
<td>203.96M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>212.84M</td>
<td>228.06M</td>
<td>233.16M</td>
<td>225.49M</td>
</tr>
</tbody>
</table>

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Guidance</h3>
Myers Indus management provided guidance for FY 2023, expecting earnings between $1.55 and $1.85 per share.
To track all earnings releases for Myers Indus <a href="https://www.benzinga.com/quote/MYE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Myers Indus: Q1 Earnings Insights

Myers Industries Reiterates FY23 Revenue And Earnings Outlook; Adjusted EPS $1.55-$1.85, Consensus $1.70

Myers Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) reported quarterly adjusted earnings of $0.38 per share which beat the analyst consensus estimate of $0.36 by 5.56 percent. This is a 24 percent decrease over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $215.70 million which missed the analyst consensus estimate of $229.65 million by 6.07 percent. This is a 4.34 percent decrease over sales of $225.49 million the same period last year.

Myers Indus Q1 Adj EPS $0.38 Beats $0.36 Estimate, Sales $215.70M Miss $229.65M Estimate

Myers Industries (MYE) has shared an update. On March 5, 2024, the Company disclosed its fourth-quarter earnings for the period ending December 31,...

Myers Industries Reports Q4 Earnings and Schedules Call

Myers Industries, Inc. 2023 Q4 - Results - Earnings Call Presentation

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Myers Indus (NYSE:<a href="https://investorplace.com/stock-quotes/mye-stock-quote/">MYE</a>) just reported results for the fourth quarter of 2023.<ul><li>Myers Indus reported earnings per share of 29 cents. This was above the analyst estimate for EPS of 26 cents.</li><li>The company reported revenue of $191.08 million.</li><li>This was 2.61% worse than the analyst estimate for revenue of $196.19 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/03/mye-stock-earnings-myers-indus-for-q4-of-2023/">MYE Stock Earnings: Myers Indus Beats EPS, Misses Revenue for Q4 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

MYE Stock Earnings: Myers Indus Beats EPS, Misses Revenue for Q4 2023

Myers Industries, Inc. (MYE) Q4 2023 Earnings Call Transcript

WW and SABR among Consumer Discretionary movers

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Press Releases

Myers Industries Announces Third Quarter 2023 Results

Myers Industries Announces Meghan Beringer as Senior Director of Investor Relations

Myers Industries Announces Acquisition of Signature Systems

Myers Industries Announces Reporting Date and Conference Call for 2023 Fourth Quarter and Full Year Results; Announces 2024 Annual Meeting Date

Myers Industries Completes Acquisition of Signature Systems

Myers Industries Announces Quarterly Dividend

Myers Industries Announces Fourth Quarter and Full Year 2023 Results

Myers Industries Hosts Investor Day and Unveils its Horizon Two Strategy Outlook

Myers Industries Announces Reporting Date and Conference Call for 2024 First Quarter Results

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Myers Indus Stock (NYSE:MYE), Short Interest Report

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