Myers Industries Q2 net sales up 58% to $187.4M; adj. EPS $0.29; gross margin down 660 bps on resin costs

MYERS INDUSTRIES INC

2021-Q2 EPS reported $0.51 revenue$361,798,000

Net sales $187.4M (+58.3% YoY); organic growth 32% excluding Elkhart acquisition.
Adjusted EPS $0.29 vs $0.23; GAAP EPS $0.30 vs $0.23.
Gross profit margin fell to 29.4% from 36.0% as resin cost increases outpaced price actions.
Material Handling segment organic sales +24% but adj. op. margin dropped 710 bps to 12.4%.
FY2021 outlook: net sales growth mid-40%; adj. diluted EPS $0.90–$1.05; capex $15–$18M.

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