Myers Industries Q3 net loss of $10.9M on $22M goodwill impairment; guides FY24 adj. EPS $0.92-$1.02

MYERS INDUSTRIES INC

2024-Q3 EPS reported $0.08 revenue$632,405,000

Net sales $205.1M (+3.7% YoY) driven by Signature Systems acquisition; Distribution segment sales fell 16.8%.
Adjusted EPS $0.25 vs $0.38 prior year; adjusted EBITDA $30.7M (+19.8%) helped by Signature performance.
Full-year guidance reduced: adj. EPS $0.92-$1.02 (prior $1.05-$1.20), net sales growth 0%-5% (prior 5%-10%).
Additional $15M annualized cost savings targeted by 2025, plus new Distribution President Jeff Baker appointed.

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