Myers Industries reports strong profit growth for first quarter

Akron, OH – Myers Industries, Inc. announced its financial results for the first quarter of 2025, showcasing significant improvements in profitability despite a slight dip in overall sales.

For the quarter ending March 31, 2025, Myers reported net sales of $206.8 million, a marginal decrease of 0.2% compared to the same period in 2024. However, the company achieved a 7.5% increase in gross profit, reaching $69.1 million, and expanded its gross margin to 33.4% from 31.0% year-over-year.

Operating income surged by 53% to $16.7 million, while net income nearly doubled to $6.8 million, or $0.18 per diluted share—up from $0.09 in Q1 2024. Adjusted earnings per share rose to $0.22, reflecting a 4.8% increase.

President and CEO Aaron Schapper attributed the improved profitability to the successful integration of the Signature acquisition and strong performance in military product lines under the Scepter brand. He also highlighted the early success of the company’s “Focused Transformation” initiative, aimed at fostering a culture of accountability and continuous improvement.

“We are pleased to report first quarter results of improved profitability on flat sales,” said Schapper. “Our transformation program is gaining momentum, and we are encouraged by the progress we’re seeing across the organization.”

The company also reduced its selling, general, and administrative (SG&A) expenses, contributing to the improved bottom line. Myers repurchased $1 million in shares during the quarter as part of its $10 million 2025 share repurchase program.

Looking ahead, Myers emphasized its strategic advantage in domestic manufacturing, with 15 of its 16 production facilities located in the U.S., positioning the company to offer resilient supply chain solutions amid global uncertainties.

The company reaffirmed its commitment to profitable growth and operational excellence as it continues to execute its transformation strategy.