Myers Industries Reports Q3 2026 Revenue Growth Amidst Margin Pressure from Resin Costs
Myers Industries (MYE) reported third-quarter net sales of $171.3 million, an 8.1% increase year-over-year. Growth was primarily driven by the infrastructure and food and beverage segments, with infrastructure revenue reaching $40.8 million due to demand for composite matting and utility projects. Excluding the impact of exiting low-margin products, net sales growth was even stronger at 10.4%. Despite top-line gains, profitability faced headwinds as adjusted gross margins fell to 28.2% and adjusted EBITDA margins dropped by 280 basis points. These declines were attributed to a significant spike in resin costs and unfavorable product mix. However, the company successfully reduced net debt by $28.5 million during the quarter, largely through the sale of Myers Tire Supply, resulting in a significantly improved leverage ratio of 1.86x.
Tickers: $MYE
Topics: Adjusted EPS Debt Reduction Margin Compression Net Sales Growth Resin Costs