Myers Industries announced its financial results for the first quarter of 2025, reporting improved profitability despite flat net sales compared to the same period last year.
The company cited the contribution of its Signature acquisition and strong sales of its Scepter military products as key drivers of the quarter’s performance.
According to a press release, President and CEO Aaron Schapper said the company reduced its selling, general and administrative expenses during the quarter as part of its “Focused Transformation” program, launched earlier this year.
“We are pleased to report first quarter results of improved profitability on flat sales driven by the contribution of our Signature acquisition and strong performance of our Scepter military products,” Schapper said in a statement.
Myers reported a slight decline in net sales for the quarter, with gains in its Infrastructure and Industrial segments, particularly military applications, offset by weaker demand in Food and Beverage and lower sales in the Automotive Aftermarket.
Gross profit increased in the quarter, which the company said was driven by an improved product sales mix and higher Infrastructure sales resulting from the Signature acquisition. Operating income also rose, supported by lower material and manufacturing costs and the absence of $6.5 million in acquisition-related expenses recorded in the first quarter of 2024.
Schapper said the company remains focused on its transformation strategy, which aims to foster a culture of accountability, continuous improvement and profitable growth. “Our ‘Focused Transformation’ program, launched earlier this year, is gaining momentum as we foster a culture of accountability and ignite a renewed drive among employees,” he said.
During the first quarter, Myers repurchased $1 million in shares under its previously announced $10 million 2025 share repurchase program. Schapper said the repurchase reflects the company’s commitment to returning cash to shareholders while executing its operational and strategic priorities.
Myers Industries is a manufacturer of sustainable plastic and metal products, serving consumer, vehicle, food and beverage, industrial, infrastructure, and automotive aftermarket end markets.