Myers Industries is trading 12.67% down at $28.12 after its October 29 third-quarter report showed adjusted EPS of $0.32, below the $0.45 analyst estimate, while revenue beat expectations at $171.34 million.
- Resin costs, unfavorable product mix and unplanned maintenance pressured profitability; gross margin fell 380 basis points to 27.3%.
- Management expects significant sequential margin improvement in Q4 as resin costs stabilize and pricing actions take effect.