Myers Industries Q1 EPS $0.47 (adj $0.50), revenue +29%; raises FY2022 adjusted EPS outlook to $1.30-$1.50

MYERS INDUSTRIES INC

2022-Q1 EPS reported $0.47 revenue$225,486,000

Net sales $225.5M (+29% YoY); organic sales +23% with 20% from pricing, 3% volume.
Adjusted EPS $0.50 (up 127% from $0.22); net income $17.3M vs $7.3M.
Adjusted EBITDA $31.0M (+82%); gross margin expanded to 31.9% from 28.9%.
Material Handling segment sales $176.6M (+36%), adj op margin 18.0% (up 500bps).
FY2022 adjusted EPS guidance raised to $1.30-$1.50; net sales growth low-to-mid double-digit.

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