Myers Industries Posts Q3 Loss on Discontinued Operations; Shares Fall 12.58%

Myers Industries Inc. (MYE) reported a third-quarter fiscal 2026 loss of $865,000, or $0.02 per share, reversing a year-earlier profit of $7.088 million, or $0.19 per share. Shares fell 12.58% to $28.15 on the New York Stock Exchange following Thursday's announcement. The loss stemmed from discontinued operations, which recorded a $5.576 million deficit, or $0.15 per share, versus a $798,000 profit a year earlier. Income from continuing operations declined to $4.71 million, or $0.13 per share, from $6.29 million, or $0.17 per share. Adjusted income from continuing operations rose to $12.23 million, or $0.32 per share, from $11.59 million, or $0.31. Operating income fell 11.2% to $14.84 million on higher resin costs, unfavorable product mix and unplanned maintenance. Net sales rose 8.1% to $171.34 million, lifted by Infrastructure and Food & Beverage end markets. For full-year 2026, Myers expects moderate growth in Industrial and Consumer markets, strong growth in Infrastructure and Food & Beverage, and a decline in its Vehicle segment, revised from prior stable guidance.