Myers Industries Q1 EPS $0.09 ($0.21 adj) vs $0.35 prior; guides to low end of FY range

MYERS INDUSTRIES INC

2024-Q1 EPS reported $0.09 revenue$207,102,000

Net sales $207.1M, down 4.0% YoY; GAAP net income $3.5M vs $13.0M.
Adjusted EPS $0.21 vs $0.38; adjusted EBITDA $25.1M vs $25.9M.
Material Handling segment sales flat ($152.2M); Distribution sales down 13.1% to $54.9M.
Signature Systems acquisition contributed record quarter; management targets $7-9M additional annualized cost cuts.
Full-year outlook maintained but guided to low end of prior EPS range ($1.30-$1.45 adj).

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