NYSE$MYE
Myers Industries Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Myers Industries experienced gross margin expansion through effective cost management and reiterated its full-year fiscal 2023 revenue and earnings outlook.
Myers Industries reported a decrease in net sales to $215.7 million compared to $225.5 million in the prior year period, but demonstrated strength through gross margin expansion to 32.9%. The company's cash flow generation increased, with cash flow from operations at $25.8 million and free cash flow at $16.7 million.
- Net sales decreased to $215.7 million from $225.5 million year-over-year.
- Gross margin increased to 32.9%, up 100 basis points from the prior year.
- GAAP net income per diluted share was $0.35, compared to $0.47 in the prior year period.
- Adjusted earnings per diluted share were $0.38, compared to $0.50 in the prior year period.
Headline financials
Revenue & EPS history
Myers Industries · Revenue · Quarterly
$216M
Revenue by segment
Myers Industries · $216M total across 2 segments · Q1 2023
- Material Handling$153M-13.6%70.7%
- Distribution$63.2M+29.2%29.3%
Forward guidance
The Company reiterated its outlook for fiscal 2023, forecasting net sales growth in the low-to-mid single digit range and net income per diluted share in the range of $1.50 to $1.80; adjusted earnings per diluted share in the range of $1.55 to $1.85.
Tailwinds
- Net sales growth in the low-to-mid single digit range
- Net income per diluted share in the range of $1.50 to $1.80
- Adjusted earnings per diluted share in the range of $1.55 to $1.85
- Capital expenditures to be in the range of $25 to $30 million
- Effective tax rate to approximate 25%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.3%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+4.5%
Avg return
30 days after
53%
34 / 64 earnings
Positive
+28.1%
Q4 2024
Best reaction
-21.9%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.9% | +7.7% | +13.6% | |
| Q4 2025 | +4.2% | -3.4% | -3.1% | |
| Q3 2025 | -3.2% | +1.1% | +3.9% | |
| Q1 2025 | +5.3% | +10.3% | +20.9% | |
| Q4 2024 | +28.1% | +34.6% | +6.6% | |
| Q3 2024 | -3.1% | +3.0% | +5.7% | |
| Q2 2024 | -3.4% | -6.0% | +2.6% | |
| Q1 2024 | -21.9% | -25.9% | -31.4% | |
| Q4 2023 | +10.3% | +9.2% | +13.7% | |
| Q3 2023 | +3.8% | +7.8% | +6.1% | |
| Q2 2023 | -5.5% | -5.7% | -2.7% | |
| Q1 2023 | +2.9% | +1.1% | +5.6% | |
| Q4 2022 | -19.8% | -19.9% | -17.1% | |
| Q3 2022 | +10.8% | +15.2% | +24.9% | |
| Q2 2022 | -9.0% | -12.2% | -23.5% | |
| Q1 2022 | +6.6% | +3.4% | +13.6% | |
| Q4 2021 | +9.1% | +13.3% | +26.2% | |
| Q3 2021 | -3.9% | -4.1% | -10.2% | |
| Q2 2021 | +2.3% | +1.9% | +6.6% | |
| Q1 2021 | -1.1% | -3.1% | -1.5% | |
| Q4 2020 | -18.3% | -17.0% | -14.1% | |
| Q3 2020 | +4.5% | +14.0% | +28.0% | |
| Q2 2020 | +1.4% | +5.7% | +5.1% | |
| Q1 2020 | -5.2% | +3.5% | +32.2% | |
| Q4 2019 | +6.3% | +4.7% | -30.3% | |
| Q3 2019 | -2.6% | -2.2% | -2.9% | |
| Q2 2019 | -9.7% | -9.7% | -4.5% | |
| Q1 2019 | +1.6% | +1.6% | +6.4% | |
| Q4 2018 | +5.8% | +9.3% | -1.3% | |
| Q3 2018 | -0.8% | -1.4% | -2.9% | |
| Q2 2018 | +20.4% | +22.1% | +25.4% | |
| Q1 2018 | +0.9% | +2.0% | -7.0% | |
| Q4 2017 | +4.6% | +9.1% | +18.2% | |
| Q3 2017 | -2.1% | -3.0% | -6.5% | |
| Q2 2017 | +5.3% | -5.9% | +10.6% | |
| Q1 2017 | +7.5% | +7.5% | +18.6% | |
| Q4 2016 | +3.7% | +3.4% | +23.2% | |
| Q3 2016 | +5.6% | +13.9% | +16.7% | |
| Q2 2016 | -8.5% | -6.2% | -0.5% | |
| Q1 2016 | +2.5% | — | — | |
| Q4 2015 | +0.1% | — | — | |
| Q3 2015 | +5.9% | — | — | |
| Q2 2015 | -13.1% | — | — | |
| Q1 2015 | +12.0% | — | — | |
| Q4 2014 | +9.9% | — | — | |
| Q3 2014 | -11.4% | — | — | |
| Q2 2014 | -2.8% | — | — | |
| Q1 2014 | -17.1% | — | — | |
| Q4 2013 | +1.6% | — | — | |
| Q3 2013 | -2.1% | — | — | |
| Q2 2013 | +9.0% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2012 | -4.8% | — | — | |
| Q3 2012 | -3.7% | — | — | |
| Q2 2012 | -5.3% | — | — | |
| Q1 2011 | -2.0% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | +0.2% | — | — | |
| Q2 2011 | -1.8% | — | — | |
| Q4 2010 | -1.8% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q2 2010 | -0.6% | — | — | |
| Q1 2010 | -0.7% | — | — |
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