Mar. 6 at 11:59 AM
$MYE Myers Industries reports Q4 adjusted EPS 19c vs. last year
Reports Q4 revenue
$203.9M vs.
$191.1M last year. New CEO Aaron Schapper commented, "During my first two months with Myers, I have met with many members of our organization and have been impressed with and encouraged by their dedication and desire to drive improvement...Going forward, we will prioritize high-value opportunities while implementing a strategic and disciplined cost optimization plan. I am excited about the opportunity we have at Myers to improve our businesses and position the company for growth.
In closing 2024, we reported solid Q4 financial results with margin growth led by our Signature and Scepter brands, demonstrating the valuable assets we have within our portfolio. Building on these results, we are launching our 'Focused Transformation' program with a target to implement
$20M of annualized cost savings, primarily in SG&A, by year-end 2025. Equally important, we will conduct a comprehensive review of the Myers portfolio, focusing on where we can add the most value while highlighting the unique differentiators that set us apart from our peers. I look forward to sharing a more detailed plan for performance improvement soon."
