Myers Industries reported a revenue beat for the third quarter of 2026, with net sales increasing 8.1% year-over-year. However, profitability was significantly impacted by a spike in resin costs and an unfavorable product mix, leading to a miss on adjusted earnings estimates.
Key Highlights
- Net sales rose to $171.3 million, exceeding analyst estimates, driven by 38% growth in the Infrastructure segment and 12% growth in Food & Beverage.
- Adjusted gross margin contracted 380 basis points to 27.3% due to volatile raw material costs and unplanned maintenance expenses.
- Adjusted EPS of $0.32 fell short of the $0.45 consensus estimate, though the company noted that pricing actions and resin stabilization should drive sequential improvement in the fourth quarter.
- The company completed the strategic divestiture of Myers Tire Supply during the quarter to focus exclusively on high-margin engineered products.