Myers Industries Announces 2025 Fourth Quarter and Full Year Results

Fourth Quarter EPS Improved 173% and Adjusted EPS Improved 63% Year-over-year

Material Handling Drives Year-over-year Margin Expansion

Strong Free Cash Flow of $67M in 2025, Up 23% Year-over-year

Annualized Costs Reduced by $20M in 2025, primarily in SG&A, Achieving our Commitment

Meaningful Progress in 2025 on Focused Transformation that Delivers Consistent, Reliable Results and Creates Sustainable Shareholder Value

Myers Industries Inc. (NYSE:MYE), a leading manufacturer of Products that Protect™ the world from the ground up, today announced results for the fourth quarter and full year ended December 31, 2025.

Myers Industries President and CEO Aaron Schapper commented, "2025 was a great year for Myers as the team performed well and we made significant progress on Focused Transformation. As part of our portfolio realignment, we are focusing on our core businesses that protect from the ground up, while progressing with the sale of Myers Tire Supply. We streamlined our manufacturing operations to rationalize capacity and improved our cost structure, delivering on our commitment to reduce annualized costs by $20 million. We improved free cash flow, further strengthened our balance sheet, and continued to deliver on debt and leverage reduction. We enter 2026 with momentum and confidence and are on the right track to deliver consistent, reliable results and create sustainable shareholder value."

Fourth Quarter 2025 Financial Summary

• Net sales: Essentially flat year-over-year as we exited low-margin products with the idling of two rotational molding facilities. Excluding the impact from idling the Alliance, Ohio, facilities, net sales increased 3% year-over-year as higher volume was partially offset by lower price. By end market, Food & Beverage, Infrastructure, and Industrial growth was offset by soft Consumer and Vehicle demand.
• Gross profit and Operating income: Increased due to favorable mix, higher volume, and reduced SG&A, partially offset by unfavorable price.

Fourth Quarter 2025 Segment Results

(Dollar amounts in the segment tables below are reported in millions)

Material Handling

• Operating income and Adjusted EBITDA: Increased primarily due to improved mix, higher volume, and reduced SG&A due to the Focused Transformation program, partially offset by unfavorable pricing.

Distribution

• Operating income and Adjusted EBITDA: Increased due to favorable pricing and SG&A, partially offset by lower volume.

Full Year 2025 Financial Summary

• Net sales: Growth in Industrial and Infrastructure was more than offset by lower demand in Consumer, Vehicle, and Automotive Aftermarket. Excluding the impact from idling the Alliance, Ohio, facilities and the decision to exit certain unprofitable products, net sales decreased 0.6% year-over-year.
• Gross profit and Operating income: Increased due to lower material cost, favorable cost productivity, favorable mix, and benefits from our Focused Transformation program.

Full Year 2025 Segment Results

(Dollar amounts in the segment tables below are reported in millions)

Material Handling

• Operating income: Increased primarily due to a $22 million non-cash charge for goodwill impairment in 2024. Excluding this item, operating income would have improved by $12.6 million.
• Adjusted EBITDA: Increased due to favorable material costs, higher volume, and benefits from our Focused Transformation program, partially offset by unfavorable pricing.

Distribution

• Operating income and Adjusted EBITDA: Decreased due to lower volume and higher operations costs, partially offset by favorable SG&A due to our Focused Transformation program.

Balance Sheet & Cash Flow

• As of December 31, 2025, the Company's total liquidity was $289.8 million, including $244.7 million of availability under the revolving credit facility and $45.1 million in cash on hand.
• For the fourth quarter of 2025, cash flow from operations was $22.6 million, free cash flow was $18.9 million, and capital expenditures were $3.6 million.
• For the full year 2025, cash flow from operations was $86.8 million, free cash flow was $67.2 million, and capital expenditures were $19.6 million.
• Total debt was reduced by $16.0 million in the fourth quarter and $31.0 million in 2025, ending the year with a net leverage ratio of 2.4x.
• $2.5 million shares repurchased in 2025 under the 2025 Share Repurchase Program.

Portfolio Transformation

The transformation of the Company continues to be on track, including the previously announced process to divest Myers Tire Supply (MTS) to create a more focused portfolio to better deliver shareholder value. MTS is expected to qualify for discontinued operations accounting treatment beginning in the first quarter reporting period of 2026.

2026 End Market Outlook

The following table presents the Company's current 2026 outlook for each of its end markets. Due to the planned divestment of Myers Tire Supply, the Company is not providing an outlook for Automotive Aftermarket.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Thursday, March 5, 2026, at 8:30 a.m. ET. The call is anticipated to last one hour and may be accessed using the following online participation registration link: https://events.q4inc.com/analyst/316740658?pwd=hRjcz32B. Upon registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. To access the live webcast or a replay, visit the Company's website www.myersindustries.com and click on the Investor Relations tab. An archived replay of the call will also be available on the site shortly after the event. An archive of the webcast will be available for replay following the meeting using the following link: https://events.q4inc.com/attendee/316740658

Use of Non-GAAP Financial Measures

The Company uses certain non-GAAP measures in this release. Adjusted gross profit, adjusted gross margin, adjusted operating income (loss), adjusted operating income margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA margin, adjusted net income, adjusted earnings per diluted share (adjusted EPS), and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. Myers Industries believes that such information provides an additional measurement and consistent historical comparison of the Company's performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release.

About Myers Industries

Myers Industries Inc., based in Akron, Ohio, is a leading manufacturer of sustainable plastic and metal products that protect the world from the ground up for Consumer, Vehicle, Food & Beverage, Industrial, Infrastructure, and Automotive Aftermarket end markets. Myers Industries has a rich history that is built on strong brands and innovative products. Through years of continuous product development and strategic acquisitions, we have established ourselves as a leading diversified industrial company. We provide critical solutions to our customers, delivering exceptional value. Visit www.myersindustries.com to learn more.

Caution on Forward-Looking Statements

Statements in this release include "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including information regarding the Company's financial outlook, future plans, objectives, business prospects and anticipated financial performance. Forward-looking statements can be identified by words such as "will," "believe," "anticipate," "expect," "estimate," "intend," "plan," or variations of these words, or similar expressions. These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, these statements inherently involve a wide range of uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. The Company's actual actions, results, and financial condition may differ materially from what is expressed or implied by the forward-looking statements.

Specific factors that could cause such a difference on our business, financial position, results of operations and/or liquidity include, without limitation, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company's business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world, including the impacts of U.S. and foreign tariff policies; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; unforeseen events, including natural disasters, unusual or severe weather events and patterns, public health crises, geopolitical crises, and other catastrophic events; our ability to successfully execute our announced intended divestiture of the Myers Tire Supply business; and other risks and uncertainties detailed from time to time in the Company's filings with the SEC, including without limitation, the risk factors disclosed in Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Given these factors, as well as other variables that may affect our operating results, readers should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, nor use historical trends to anticipate results or trends in future periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company expressly disclaims any obligation or intention to provide updates to the forward-looking statements and the estimates and assumptions associated with them.

M-INV