Myers Industries, Inc.

What they do

Myers Industries designs, manufactures, and markets plastic reusable containers, pallets, bulk shipping containers, storage products, OEM parts, custom plastic products, composite ground protection matting, consumer fuel containers, and tanks for water, fuel, and waste. It also distributes tools, equipment, and supplies for tire, wheel, and under-vehicle service, and manufactures tire repair and retreading products. Operations are primarily in the U.S., Canada, and Central America, with manufacturing and distribution facilities across these regions.

Revenue drivers

• Material Handling segment — Largest segment, generating $622.1 million in 2025 net sales (about 75% of total). Products include reusable plastic containers, pallets, and custom plastic products sold to industrial, food processing, retail, and other markets.
• Distribution segment — Generated $203.9 million in 2025 net sales (about 25% of total). Distributes tire service equipment and supplies, serving retail and truck tire dealers, fleets, and repair centers.
• End markets (2026 Q2) — Industrial revenue was $66.3 million, Infrastructure $48.6 million, Consumer $22.5 million, Food & Beverage $21.3 million, and Vehicle $20.5 million in Q2 2026.

Recent performance

For Q2 2026, net sales grew 9.8% year-over-year to $179.2 million, with gross margin expanding 300 bps to 34.3% and operating income margin up 520 bps to 17.4%. Income from continuing operations rose 95% to $18.7 million, and diluted EPS from continuing operations was $0.50. For full-year 2025, revenue was $825.7 million (down 1.3% from 2024), net income was $34.9 million (up from $7.2 million in 2024), and operating cash flow was $86.8 million.

Strategy

Management is executing a 'Focused Transformation' program to drive commercial excellence, improve financial metrics, and simplify the portfolio. In Q1 2026, the company transitioned to a single-segment structure following the announced sale of Myers Tire Supply. They idled two rotational molding facilities in Q4 2025 to exit low-margin products, and are investing in Europe to support military product-line growth. The company aims to sustain momentum through improved mix, price, and lower manufacturing costs.

Risks

• Tariffs and trade policy — Changes in U.S. trade policy, including tariffs, could increase costs or disrupt supply chains, impacting margins and demand.
• Raw material costs — Significant increases in the cost of raw materials, such as plastic resins tied to oil prices, could compress margins if not offset by pricing.
• Customer demand softness — Vehicle and Consumer end markets declined 19% and 14% respectively in Q2 2026, indicating potential ongoing weakness in these areas.
• Integration and divestiture risk — The sale of Myers Tire Supply and the transition to a single-segment structure may not achieve expected benefits and could disrupt operations.

Outlook

Management expresses confidence in sustaining momentum through the second half of 2026, citing strong Q2 results and a simplified portfolio. They highlight growth investments in Europe and infrastructure and food & beverage end markets as opportunities. The company expects continued benefits from productivity improvements and cost efficiency initiatives to drive consistent financial performance.