Myers Industries Q2 adj EPS $0.39; lowers FY 2024 outlook to $1.05–$1.20

MYERS INDUSTRIES INC

2024-Q2 EPS reported $0.37 revenue$427,338,000

Net sales $220.2M (+5.7% YoY); net income $10.3M (diluted EPS $0.28) vs $10.6M ($0.29) last year.
Adjusted EPS $0.39 (+11.4% YoY); adjusted EBITDA $38.9M (+57.4%).
Full-year adjusted EPS guidance lowered to $1.05–$1.20, citing persistent weakness in RV, Marine, Automotive Aftermarket.
Material Handling segment sales $166.0M (+15.9%) boosted by Signature Systems; Distribution segment sales $54.3M (-16.7%).
Announced consolidation of Atlantic, IA rotational molding plant and three distribution centers; targeting $5M savings in 2025.

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