The 2020 Mid-Year Economic Update_long

Myers Industries Sales Up 14.6% in 3Q

Company posts net loss of $2.7 million for the quarter.

Myers Industries Inc. (NYSE: MYE), Akron, OH, reported sales for the third quarter were $162.1 million, up 14.6 percent from $141.4 million in the prior-year period. The company posted a net loss of $2.7 million for the quarter, as compared to a profit of $6.5 million in 2013.

Sales in the material handling segment for the third quarter were $112.3 million, up 25 percent from the prior-year period due to the acquisition of Scepter on July 2

Sales in the distribution segment were $49 million for the third quarter, down from $51.7 million primarily due to the segment's Canadian branch closures in the first quarter of 2014 and lower custom sales.

For the first nine months, sales were $465.4 million, up 5.8 percent from the prior-year period. Profit was $3.7 million, down from a profit of $22.7 million in 2013.

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