Myers Industries, a manufacturer of polymer products for numerous markets including the RV industry, recently announced that net sales for the second quarter of 2018 decreased 4.5 percent.
“Second-quarter adjusted earnings were in line with our expectations, despite softer than anticipated demand in our consumer end market. Net sales were down 4.5 percent due primarily to continued weakness in the RV market and softer than anticipated spring seasonal demand in our consumer end market,” said Dave Banyard, president and CEO of Myers Industries. “We expanded our gross margin to 35 percent and increased adjusted operating income by 6 percent as volume declines were more than offset by cost discipline, selective price increases and execution of our distribution segment transformation.”
Second quarter 2019 net sales decreased $6.3 million, or 4.5 percent, to $134.3 million, compared to the second quarter of 2018. The decrease was the result of a sales decline in the material handling segment. Gross profit decreased $1.1 million to $46.9 million, compared to the second quarter of 2018.