Myers Industries, Inc. reported a total net sales of $825.7 million for the fiscal year ending December 31, 2025, reflecting a decrease of $10.5 million or 1.3% compared to the previous year. The decline was attributed to lower pricing, which accounted for $14.5 million, and a decrease in volume of $1.6 million, alongside unfavorable currency translation effects of $0.8 million. However, this decrease was partially offset by $6.4 million in incremental sales from the acquisition of Signature Systems, which was completed on February 8, 2024. The Material Handling Segment saw a slight increase in sales to $622.1 million, while the Distribution Segment experienced a decline to $203.9 million, primarily due to lower volume and pricing.
The company's gross profit increased by $5.2 million, or 1.9%, to $276.1 million, resulting in a gross margin of 33.4%, up from 32.4% in 2024. This improvement was driven by favorable cost productivity and lower material costs, despite the challenges posed by reduced sales volume and pricing. Selling, general, and administrative expenses decreased by 0.9% to $172.4 million, attributed to lower salaries, benefits, and facility costs, although this was offset by higher incentive compensation and costs associated with the Signature acquisition.
Operationally, Myers Industries maintained a workforce of approximately 2,200 employees as of December 31, 2025, with 1,700 in the Material Handling Segment and 400 in Distribution. The company also reported a backlog of orders estimated at $105 million, indicating a stable demand for its products. The acquisition of Signature Systems, which generated approximately $110 million in annual sales, aligns with Myers' strategic goal to enhance its position in the engineered plastic solutions market.
Looking ahead, Myers Industries expressed confidence in navigating the current economic landscape, which includes challenges such as inflation, supply chain disruptions, and fluctuating commodity prices. The company believes its strong balance sheet, liquidity, and diverse product offerings will support its growth initiatives. Additionally, the ongoing strategic review of the Myers Tire Supply business may lead to potential divestitures, although no assurances were made regarding the completion of any transactions. The company remains focused on optimizing its operations and enhancing shareholder value through strategic growth initiatives.
About MYERS INDUSTRIES INC
Myers Industries, Inc. designs, manufactures, and markets plastic, metal, and rubber products, including reusable containers, pallets, storage solutions, and ground protection mats. It operates through two segments: Material Handling, serving industrial, automotive, and consumer markets, and Distribution, providing tire, wheel, and under-vehicle service equipment. With a global presence, the company focuses on sustainable, innovative solutions to improve efficiency, safety, and profitability for diverse customers.
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