Myers Industries Backs FY21 Adj. EPS, Boosts Sales Outlook - Quick Facts

While reporting financial results for the first quarter on Thursday, polymer products maker Myers Industries, Inc. (MYE) maintained its earnings and adjusted earnings guidance for the full year 2021, but now expects it at the higher end of the range. However, it raised annual net sales growth outlook.

For fiscal 2021, the company continues to project earnings in a range of $0.87 to $1.02 per share and adjusted earnings in a range of $0.90 to $1.05 per share. Net sales are now projected to grow in the high 30 percent range, including impact of the Elkhart Plastics acquisition, higher than the prior forecast for a growth in the mid-to-high 20 percent, including impact of the Elkhart acquisition.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.96 per share on a revenue growth of 24.90 percent to $637.37 million for the year. Analysts' estimates typically exclude special items.

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