Myers Industries Inc. announced results for the first quarter ended March 31.
Myers Industries President and CEO Aaron Schapper commented, “We began 2026 on a positive trajectory, delivering improved earnings and strong cash flow as our teams performed well and we benefited from recent actions to improve margins. Our decision to sell Myers Tire Supply better positions us to focus on our mission of providing our customers with ‘Products that Protect.’ I am pleased with our performance and confident that we are well on our way to deliver consistent, reliable results and create sustainable shareholder value.”
First Quarter 2026 Financial Summary
- Net sales increased 5% excluding the impact from the company’s decision to exit approximately $5 million low-margin products with the idling of two rotational molding facilities in the fourth quarter of 2025. Infrastructure grew 26% and Consumer grew 14%, offset by soft Vehicle and Food & Beverage demand, down 14% and 12%, respectively.
- Gross profit and Operating income increased due to favorable mix, lower material costs, and lower manufacturing costs from the Focused Transformation program.
Balance Sheet & Cash Flow
- Total liquidity was $289.3 million, including $244.7 million of availability under the revolving credit facility and $44.6 million in cash on hand.
- Cash flow from operations was $26.7 million, free cash flow was $23.9 million, and capital expenditures were $2.8 million.
- Net debt as defined by the credit agreement was reduced by $18.3 million with a net leverage ratio of 2.2x.
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