Myers Industries Q4 Profit Climbs; Sees Sales Growth In FY23

(RTTNews) - Myers Industries, Inc. (MYE), a manufacturer of polymer and metal products, Tuesday reported that its fourth-quarter net income climbed 85.1 percent to $13.43 million from last year's $7.26 million.

Net income per share was $0.36, a growth of 80 percent from prior year's $0.20.

Adjusted net income was $11.80 million or $0.32 per share, compared to $8.37 million or $0.23 per share a year earlier.

Net sales increased 6.6 percent to $212.84 million from last year's $199.58 million.

Looking ahead for fiscal 2023, the company expects earnings per share in the range of $1.51 to $1.81 and adjusted earnings per share in the range of $1.55 to $1.85. Net sales growth is projected in the low-to-mid single digit range.

In fiscal 2022, earnings were $1.64 per share, adjusted earnings were $1.68 and net sales were $900 million.

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