Myers Industries Q2 revenue rises on Infrastructure and Food & Beverage strength

Overview

• U.S. industrial products maker's Q2 revenue rose 9.8% yr/yr

• Adjusted EPS for Q2 increased 60.6% yr/yr

• Growth driven by transformation initiatives, improved volume and mix, and lower manufacturing costs

Outlook

• Myers Industries expects moderate growth in Industrial and Food Beverage end markets

• Company sees strong growth in Infrastructure segment for 2026

• Vehicle and Consumer segments expected to remain stable in 2026

Result Drivers

• TRANSFORMATION INITIATIVES - Company said Focused Transformation program drove commercial improvements, better volume and mix, and lower manufacturing costs

• END MARKET PERFORMANCE - Strong growth in Infrastructure and Food Beverage offset weaker Vehicle and Consumer demand

• PORTFOLIO SIMPLIFICATION - Exiting low-margin products and idling two facilities contributed to improved sales mix and margin expansion

Company press release: ID:nBw9z6947a

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the non-paper containers packaging peer group is "buy"

• Wall Street's median 12-month price target for Myers Industries Inc is $37.00, about 12.5% above its July 29 closing price of $32.89

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads

• July 29 - Industrial products maker Fortive lifts profit view on strong automation business

• July 28 - Illinois Tool Works Q2 revenue beats on segment growth; raises outlook

• July 28 - Crane Company Q2 sales rise 26%, beat estimates; outlook raised

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)