Myers Industries, Inc. (MYE)

Myers Industries reported net sales of $179.2 million for the second quarter ended June 30, 2026, up 9.8 percent from a year earlier 2.

The company says the rise came from higher volume of $14.4 million and higher pricing of $1.5 million 2.

Gross margin, the share of each sales dollar left after production costs, was 34.3 percent against 31.3 percent a year earlier 2.

These figures leave out Myers Tire Supply, the tire and automotive distribution business now being sold, which the company reports apart from the rest 2.

The company expects to complete that divestiture in 2026 2.

On October 22, 2026, the company adopted an amended senior officer severance plan, and its filing says the multiplier for the chief executive within the change in control protection period rose from 2.5x to 3x 4.

Myers Industries was founded in 1933 in Akron, Ohio, and grew from a small storefront distributing tire service supplies into a maker of plastic, metal and rubber products 1.

It went public in 1971 1.

Net sales were $813.1 million in 2023, $836.3 million in 2024 and $825.7 million in 2025 1.

On February 8, 2024, the company acquired Signature Systems, a maker of composite ground protection matting whose annual sales were about $110 million at the time 1.

The same year it recorded a non-cash charge of $22.0 million for the full goodwill of its rotational molding unit, goodwill being the extra price paid for a business above its assets 1.

In 2025 net sales slipped 1.3 percent, as lower pricing of $14.5 million outweighed the rest 1.

Gross margin still rose to 33.4 percent from 32.4 percent, helped by cost productivity and lower material costs 1.

On March 6, 2025, it launched a Focused Transformation program with a target of $20 million of annualized cost savings 2.

On July 31, 2025, it announced a plan to idle two rotational molding plants and move that work to other sites 2.

In mid-2025 it began a strategic review of Myers Tire Supply, which led to the sale process 2.

Bids received in the first quarter of 2026 led to impairment charges of $19.5 million on that business 2.

What it makes

Myers makes durable plastic reusable containers, pallets, small parts bins, bulk shipping containers, fuel containers and composite ground protection matting 1.

It runs fourteen manufacturing facilities and four distribution centers in the U.S. and Canada, and had about 2,200 employees at the end of 2025 1.

Where the sales come from

In the second quarter of 2026, industrial sales were $66.3 million, up 2 percent, and infrastructure sales were $48.6 million, up 52 percent 3.

Food and beverage rose 48 percent, while vehicle fell 19 percent and consumer fell 14 percent 3.

Net sales grew 13 percent when the exit of about $5 million of low-margin products is set aside 3.

Myers Tire Supply, being sold

This unit is the largest U.S. distributor of tools and supplies for tire and under vehicle service, and the old Distribution segment made $203.9 million of 2025 net sales 1.

People, plants and problems

Aaron Schapper is president and chief executive, and Samantha Rutty is executive vice president and chief financial officer 4.

In Europe, Scepter International Poland began production and made first shipments of military ammunition containers in the second quarter of 2026 2.

A subsidiary was told by the EPA in 2015 that it may be a responsible party for cleanup at the New Idria Mercury Mine 1.

The umbrella, in words

The brands are Akro-Mils, Ameri-Kart, Buckhorn, Elkhart Plastics, Jamco, Scepter, Signature Systems and Trilogy Plastics 1.

The company owns Signature Systems, acquired on February 8, 2024 1.

Its common stock is listed on the New York Stock Exchange under MYE 1.

The company expects the sale of Myers Tire Supply to be completed in 2026 2.

On July 28, 2026, it refinanced its credit facilities with a new $250 million revolver and a new $250 million term loan, both maturing in 2031 3.

It expects up to $9.4 million of restructuring costs to finish idling the two rotational molding plants 2.

Its outlook for 2026 is strong growth in infrastructure (23 percent of sales), and moderate growth in industrial (40 percent) and food and beverage (12 percent) 3.

It expects vehicle and consumer sales to be stable 3.

No clue on file points to a new direction yet.