MYE Earnings Prediction
The chart below shows how MYE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MYE sees a +4.04% change in stock price 10 days leading up to the earnings, and a -0.81% change 10 days following the report. On the earnings day itself, the stock moves by -3.62%. This data can give you a slight idea of what to expect for the next quarter's release.
MYE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
205.07M
3.67%
-6.89%
Gross Margin
32.05%
-0.43%
-6.78%
Operating Margin
8.95%
-11.39%
-20.37%
Net Margin
-5.30%
-182.30%
-213.49%
EPS
-0.29
-185.29%
-203.57%
No Data Available
MYE Earnings Analysis
Myers Industries, Inc. Corporation (MYE.N) Earnings Conference Call
Positive
Net Sales Increase: Net sales increased to $205.1 million, which is an increase of $7.3 million or 3.7% compared to the third quarter of 2023.
Gross Profit Increase: Quarterly adjusted gross profit was $66.3 million, an increase of $3.7 million, or 5.8%, compared to Q3 of last year.
Gross Margin Improvement: Adjusted gross margin was 32.4% compared to 31.7% in 2023, driven largely by the acquisition of Signature and favorable product mix.
EBITDA Increase Quarter-over-Quarter: Third quarter adjusted EBITDA was up to $30.7 million versus $25.6 million in the prior year quarter.
Debt Reduction Strategy: The company paid down $13 million of debt, including $5 million for the Term Loan A amortization and $8 million for the revolver.
Negative
Net Sales Increase: Net sales were $205.1 million, which increased $7.3 million or 3.7% compared to the third quarter of 2023, with the increased driven by both the Signature acquisition and strong demand for our Scepter products in both the military end market and for fuel containers, offset by lower pricing and volumes across the other segments.
Quarterly Gross Profit Increase: Our quarterly adjusted gross profit was $66.3 million, an increase of $3.7 million, or 5.8%, compared to Q3 of last year.
SG&A Expense Increase: Selling, general and administrative expenses increased $4 million, or 9.1% to $47.7 million due to the acquisition of Signature, partially offset by cost savings initiatives and reduced variable compensation.
Operating Income Decline: Operating income in the third quarter decreased to a loss of $4.8 million as compared to $18.7 million in Q3 of 2023.
Goodwill Impairment Charge: In the quarter, we recognized a $22 million non-cash charge for goodwill impairment related to the rotational molding business within our Material Handling Segment.
MYE FAQs
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MYE Earning Call Sentiment
Myers Industries, Inc. (MYE) Q3 2024 Earnings Call Transcript
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MYE.N
-1.72%Positive
The earnings call presents a mixed picture: while there are positive developments like cost-cutting initiatives, increased adjusted EBITDA, and a focus on high-margin products, these are offset by lowered EPS guidance, cautious customer spending, and headwinds in key segments. The Q&A reveals uncertainties, particularly in the distribution business. The lowered guidance and customer spending concerns dampen the positives, leading to a neutral sentiment prediction for the stock price over the next two weeks.
