The 2020 Mid-Year Economic Update_long

Myers Industries Sales Down 2.9% in 1Q

Poor weather conditions and transportation issues negatively impacted sales.

Myers Industries Inc. (NYSE: MYE), Akron, OH, reported sales for the first quarter were $208.8 million, down 2.9 percent from $215 million in the prior-year period. Profit for the quarter was $.7 million.

“Extremely poor weather conditions and transportation issues during most of the first quarter negatively impacted sales” John C. Orr, president and CEO, said. ”We continue to anticipate that our full year 2014 results will show another year of improved earnings.

Sales in the distribution segment were $39.7 million for the first quarter, down 6 percent from the prior year.

Sales in the material handling segment for the first quarter rose 13 percent to $90.6 million as a result of strong sales to the food processing and agricultural end markets.

Sales in the lawn and garden segment for the third quarter were $49.8 million, down 17 percent from the first quarter of 2013. Extremely poor weather conditions and transportation issues severely impacted the segment's sales and operations.

Sales in the engineered products segment were $32.7 million for the first quarter of 2014 compared to $37 million for the first quarter of 2013. 

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