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Financial Performance - Net sales for the quarter ended September 30, 2025 were $205.4 million, an increase of $0.4 million or 0.2% compared to the same quarter in 2024[131] - The Material Handling Segment net sales increased by $2.8 million or 1.9% for the quarter ended September 30, 2025, driven by higher volume[132] - The Distribution Segment net sales decreased by $2.4 million or 4.4% for the quarter ended September 30, 2025, primarily due to lower volume[133] - For the nine months ended September 30, 2025, total net sales were $621.8 million, a decrease of $10.6 million or 1.7% compared to the same period in 2024[142] - The Material Handling Segment net sales for the nine months ended September 30, 2025 increased by $0.9 million or 0.2%, supported by incremental sales from the acquisition of Signature[143] - The Distribution Segment net sales decreased by $11.3 million or 6.9% for the nine months ended September 30, 2025, primarily due to lower pricing and volume[144] Profitability - Gross profit for the quarter ended September 30, 2025 was $68.6 million, an increase of $3.4 million or 5.3% compared to the same quarter in 2024, with a gross margin of 33.4%[134] - Gross profit for the nine months ended September 30, 2025 was $208.3 million, an increase of $3.4 million or 1.7% compared to the same period in 2024, with a gross margin of 33.5%[145] - Income before income taxes increased significantly to $32.1 million for the nine months ended September 30, 2025, compared to $6.7 million in the same period in 2024[152] Expenses - Selling, general and administrative (SG&A) expenses for the quarter ended September 30, 2025 were $44.4 million, an increase of $5.9 million or 15.4% compared to the same period in 2024[135] - SG&A expenses for the nine months ended September 30, 2025 were $132.6 million, an increase of $2.8 million or 2.2% compared to the same period in 2024[146] Interest and Taxes - Net interest expense for the quarter ended September 30, 2025 was $7.5 million, a decrease of $0.6 million or 7.3% compared to the same quarter in 2024[140] - Net interest expense decreased by $0.9 million, or 4.0%, to $22.2 million for the nine months ended September 30, 2025, due to higher average outstanding borrowings[151] - The effective tax rate decreased to 26.4% for the nine months ended September 30, 2025, down from 56.4% in the prior year[152] Cash Flow - Net cash provided by operating activities was $64.2 million for the nine months ended September 30, 2025, up from $51.9 million in the prior year[154] - Net cash used for investing activities was $15.3 million for the nine months ended September 30, 2025, a significant decrease from $365.5 million in the same period in 2024[155] - Cash used by financing activities was $33.0 million for the nine months ended September 30, 2025, compared to cash provided of $313.0 million in the prior year[156] Financial Position - The Company had $48.0 million in cash and $244.7 million available under the Amended Loan Agreement as of September 30, 2025[153] - The Company was in compliance with all debt covenants as of September 30, 2025, with an interest coverage ratio of 4.04 and a net leverage ratio of 2.64[162] Impairment - The Company recorded a $22.0 million non-cash impairment charge for the full carrying value of goodwill in the rotational molding reporting unit during the nine months ended September 30, 2024[150]

Financial Data and Key Metrics Changes - Third quarter net sales were $205.4 million, slightly higher year over year, driven by infrastructure and industrial growth, offset by soft demand in automotive and consumer sales [4][12] - Earnings per share were $0.19, with adjusted EPS at $0.26, reflecting a year-over-year increase [5] - Free cash flow doubled compared to last year, reaching $21.5 million, attributed to improved cash flow management [16] Business Line Data and Key Metrics Changes - Material handling net sales increased by 1.9%, driven by strong sales of military products and composite matting, despite lower demand for fuel containers [15] - Distribution net sales decreased by 4.4% due to lower volumes, with adjusted EBITDA margin falling by 260 basis points [15] - Adjusted gross margin improved by 150 basis points to 33.9%, while adjusted operating margin increased by 20 basis points to 10.2% [13] Market Data and Key Metrics Changes - Industrial market expected to see moderate growth, particularly in military products, with military sales up 119% year to date [17] - Infrastructure products are anticipated to drive strong growth due to ongoing spending on large construction projects [18] - Consumer sales are projected to decline due to a lack of storm-related activity, with no storms recorded this year [18] Company Strategy and Development Direction - The company is focused on its Focus Transformation Program, aiming to optimize its portfolio and improve margins through the divestiture of the MTS business [6][7] - A culture of execution and accountability is being established, with KPIs implemented to measure progress and align incentives with long-term objectives [7][8] - The company is targeting $20 million in annualized cost savings by the end of 2025, having already identified $19 million [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to improve performance and navigate the current economic environment, despite challenges in certain markets [5][20] - The outlook for the industrial sector remains positive, particularly for military products, while consumer markets face headwinds [17][18] - The company is committed to maintaining a disciplined approach to capital allocation and working capital management [16] Other Important Information - The company welcomed a new CFO, Sam Ruddy, who brings extensive financial leadership experience [10] - The company reduced debt by $10 million, bringing total debt to $369 million, with a net leverage ratio of 2.6 times [16] Q&A Session Summary Question: Growth trajectory of Signature and additional opportunities - Management is pleased with Signature's growth, driven by infrastructure construction market tailwinds and plans for new product offerings [23][24] Question: Expectations for SG&A costs in Q4 - SG&A costs are expected to decrease, with unusual items impacting Q3; transformation savings are anticipated to contribute to reductions [30] Question: Drivers of free cash flow increase - Focus on working capital management and lighter capital spending contributed to the increase in free cash flow, with expectations for a solid Q4 [32]

Financial Performance - Myers reported quarterly earnings of $0.26 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and showing an increase from $0.25 per share a year ago, representing an earnings surprise of +4.00% [1] - The company posted revenues of $205.44 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.34%, and showing a slight increase from year-ago revenues of $205.07 million [2] Stock Performance - Myers shares have increased approximately 57.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 17.2% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.23 on revenues of $198.8 million, and for the current fiscal year, it is $1.01 on revenues of $814.2 million [7] - The Zacks Rank for Myers is currently 5 (Strong Sell), indicating expectations of underperformance in the near future due to unfavorable estimate revisions prior to the earnings release [6] Industry Context - The Rubber - Plastics industry, to which Myers belongs, is currently ranked in the bottom 9% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Q3 2025 Financial Highlights - Net sales increased slightly by 0.2% to $205.4 million compared to $205.1 million in Q3 2024[11] - Adjusted operating income increased by 1.8% to $20.9 million compared to $20.5 million in Q3 2024[11] - Adjusted net income increased by 7.7% to $9.9 million[11] - Adjusted diluted EPS increased by 4.0% to $0.26[11] - Free cash flow generation was strong at $21.5 million, up $11.4 million from last year[11] Segment Performance - Material Handling net sales increased by 1.9% to $153.5 million in Q3 2025 compared to $150.7 million in Q3 2024[24] - Material Handling adjusted operating income increased significantly by 15.4% to $28.0 million with an adjusted operating income margin of 18.3%[24] - Distribution net sales decreased by 4.4% to $52.0 million in Q3 2025 compared to $54.4 million in Q3 2024[26] - Distribution adjusted operating income decreased significantly by 61.3% to $0.9 million with an adjusted operating income margin of 1.8%[26] Strategic Initiatives and Outlook - The company remains on track to deliver $20 million in targeted cost reductions, primarily in SG&A, by the end of 2025[11] - The company is making steady progress on its 'Focused Transformation' plan, including the intent to sell Myers Tire Supply (MTS)[11] - The company is targeting capital expenditure of approximately 3% of sales, focusing on high-growth opportunities with superior returns[13]

Financial Performance - Net sales for Q3 2025 were $205.4 million, a slight increase of 0.2% compared to $205.1 million in Q3 2024[3]. - Gross profit increased by 5.3% to $68.6 million, up from $65.1 million in the same quarter last year, resulting in a gross margin of 33.4%[3]. - Operating income turned positive at $17.7 million, compared to a loss of $4.8 million in Q3 2024, primarily due to a prior year goodwill impairment charge[3][9]. - Adjusted net income rose by 7.7% to $9.9 million, with adjusted earnings per diluted share increasing to $0.26 from $0.25[3]. - Net income for the quarter ended September 30, 2025, was $7,088 thousand, compared to a net loss of $10,878 thousand in the same quarter of 2024, marking a significant turnaround[21]. - Net sales for the nine months ended September 30, 2025, were $621.768 million, a slight decrease from $632.405 million in the same period of 2024[25]. - Net income for the nine months ended September 30, 2025, was $23.598 million, compared to $2.904 million in 2024, resulting in a net income margin of 3.8%[25]. Cash Flow and Liquidity - Free cash flow improved significantly to $21.5 million, compared to $10.1 million in Q3 2024, reflecting better working capital management[2]. - Cash flows from operating activities for the nine months ended September 30, 2025, totaled $64,200 thousand, up from $51,944 thousand in the same period of 2024, representing a year-over-year increase of 23.5%[21]. - Free cash flow for the nine months ended September 30, 2025, was $48.265 million, an increase from $34.642 million in 2024[26]. - The net cash provided by financing activities for the nine months ended September 30, 2025, was $(32,987) thousand, compared to $313,020 thousand in the same period of 2024, indicating a significant decrease in cash inflow[21]. - Total liquidity stood at $292.7 million, including $244.7 million available under the revolving credit facility and $48.0 million in cash[10]. Segment Performance - The Material Handling segment reported net sales of $153.5 million, a 1.9% increase from $150.7 million in Q3 2024, with an operating income margin of 17.3%[4]. - The Distribution segment experienced a decline in net sales to $52.0 million, down 4.4% from $54.4 million in Q3 2024, with a significant drop in operating income margin[5]. Cost Management and Restructuring - The company has identified $19 million in structural cost reductions and aims for annualized savings of $20 million by the end of 2025[2]. - The company incurred restructuring expenses and other adjustments totaling $9.663 million for the nine months ended September 30, 2025[26]. Assets and Liabilities - Total assets increased to $864,071 thousand as of September 30, 2025, compared to $860,815 thousand at December 31, 2024, reflecting a growth of 0.3%[20]. - Long-term debt decreased to $331,698 thousand as of September 30, 2025, from $355,310 thousand at December 31, 2024, indicating a reduction of approximately 6.6%[20]. - Accounts payable increased to $81,569 thousand as of September 30, 2025, from $71,049 thousand at December 31, 2024, reflecting a rise of 14.1%[20]. - The company’s total current assets rose to $286,794 thousand as of September 30, 2025, up from $259,307 thousand at December 31, 2024, representing a growth of 10.6%[20]. Adjusted Metrics - Adjusted EBITDA for the quarter was $30,595 thousand, with an adjusted EBITDA margin of 14.9%, compared to $30,735 thousand and a margin of 15.0% in the prior year[23]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $92.043 million, down from $94.768 million in 2024, with an adjusted EBITDA margin of 14.8%[26]. - Adjusted operating income for the nine months ended September 30, 2025, was $62.391 million, compared to $66.008 million in 2024, reflecting an adjusted operating income margin of 10.0%[26]. - Adjusted net income for the nine months ended September 30, 2025, was $29.707 million, compared to $31.696 million in 2024[27]. - Adjusted earnings per diluted share for the nine months ended September 30, 2025, was $0.79, down from $0.85 in 2024[27].

Core Points - Myers Industries has announced the reporting date and conference call for its 2025 third quarter results [1] Company Summary - The company is set to release its third quarter results for 2025 [1] - A conference call will be held to discuss these results [1]

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Core Points - Myers Industries has appointed Helmuth Ludwig to its Board of Directors, indicating a strategic move to enhance its leadership team [1] Company Summary - The appointment of Helmuth Ludwig is expected to bring valuable experience and insights to Myers Industries, potentially influencing its future direction and growth strategies [1]

Financial Data and Key Metrics Changes - Revenue declined by 27% due to mine suspensions and closures, notably at Grosvenor, Integra, and Moranbah North [6] - Underlying EBITDA was £13,200,000, reflecting cost efficiencies and operational improvements [7] - Operating cash flow remained steady at £16,900,000, comparable to the prior year [7] - Year-end net cash position was £29,100,000, demonstrating strong liquidity management [8] Business Line Data and Key Metrics Changes - The order book grew to £314,000,000, driven by winning two significant new projects [3] - The company maintained a focus on safety performance, achieving a total recordable injury frequency rate (TRIFR) of 5.09, down from 9.85 [9] Market Data and Key Metrics Changes - The company operates in three major underground coal regions in Australia: Central Queensland, Hunter Valley, and Illawarra [4] - The order book increase was supported by new contracts at Peabody Energy's Centurion mine and GM3 Zappin mine [12] Company Strategy and Development Direction - The company aims to build its capital position to align with organic and inorganic growth strategies [3] - A pipeline of contract opportunities worth approximately £900,000,000 is in place, resulting from a renewed approach to winning work [12] - The company is focused on enhancing competitive advantages through system and process improvements and cost savings [3] Management's Comments on Operating Environment and Future Outlook - The outlook for FY '26 is positive despite ongoing industry headwinds [12] - The company is committed to maintaining a strong financial position while pursuing growth opportunities [30] - Management expressed confidence in navigating challenges related to the "same job, same pay" issues in the industry [20] Other Important Information - The company achieved zero life-changing events in FY '25 and remains committed to safety [10] - Sustainability reporting will commence next year, enhancing transparency around environmental progress [11] - There were Board changes during the year, with Peter Barker appointed as a non-executive chair [11] Q&A Session Summary Question: What is the process for laying off and rehiring workers at Moranbah North? - Management indicated that they have been flexible with workforce scale in partnership with Anglo, maintaining a presence at Moranbah North even during essential services [16][17] Question: How easy is it to rehire skilled workers after layoffs? - Management expressed confidence in being able to rehire experienced workers as the market has changed, and they have redeployed staff to other projects [18][19] Question: What is the CapEx profile for next year? - Management does not expect any large increases in CapEx for FY '26, aiming to maintain a strong financial position [29][30]