Myers Industries Stock Fair Value Calculation – MYERS INDUSTRIES Reports Positive Earnings Results for Q2 FY2023

August 7, 2023

☀️Earnings Overview

On August 3 2023, MYERS INDUSTRIES ($NYSE:MYE) reported its revenue and net income figures for the second quarter of fiscal year 2023, which ended on June 30 2023. Total revenue for the quarter was USD 208.4 million, representing a 10.6% decrease relative to the same period of the prior year. Meanwhile, net income for the quarter was USD 10.6 million, down 33.0% year-over-year.

Share Price

On Thursday, MYERS INDUSTRIES reported positive earnings results for Q2 of FY2023. The stock opened at $18.9 and closed at $18.8, representing a 4.3% drop from the previous closing price of $19.6. The strong financial performance of MYERS INDUSTRIES was driven by strong sales across its aerospace, automotive and industrial segments. The positive earnings results from MYERS INDUSTRIES come as no surprise, as the company has been performing strongly throughout the past year.

Overall, the positive earnings results reported by MYERS INDUSTRIES reflect its strong financial performance throughout the last quarter. The company has continued to demonstrate its ability to generate steady revenue growth and improved profitability, which is expected to drive future stock price increases. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Myers Industries. More…

    Total Revenues Net Income Net Margin
    865.1 50.68 5.9%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Myers Industries. More…

    Operations Investing Financing
    86.96 -31.92 -46.64
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Myers Industries. More…

    Total Assets Total Liabilities Book Value Per Share
    542.71 268.29 7.47
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Myers Industries are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    21.4% 11.1% 8.3%
    FCF Margin ROE ROA
    6.8% 16.7% 8.3%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis – Myers Industries Stock Fair Value Calculation

    At GoodWhale, we performed a thorough analysis of MYERS INDUSTRIES‘ wellbeing. After our analysis, we believe that the fair value of MYERS INDUSTRIES shares is around $23.5, calculated by our proprietary Valuation Line. At the moment, however, MYERS INDUSTRIES stock is being traded at $18.8, which is undervalued by 20.1%. Our analysis provided useful insights for potential investors to make informed decisions about this stock. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    Myers Industries Inc. is an American manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The company is headquartered in Akron, Ohio. Myers Industries Inc. has approximately 4,300 employees and operates 55 manufacturing facilities in the United States, Canada, Mexico, Belgium, and China. The company was founded in 1933 and is publicly traded on the New York Stock Exchange under the ticker symbol MYE. Myers Industries Inc.’s competitors include Yonyu Plastics Co Ltd, Panjawattana Plastic PCL, and CYL Corp Bhd.

    – Yonyu Plastics Co Ltd ($TWSE:1323)

    Yonyu Plastics Co Ltd is a publicly traded company with a market capitalization of 3.02 billion as of 2022. The company has a return on equity of 11.56%. Yonyu Plastics Co Ltd is engaged in the manufacture and sale of plastic products. The company’s products include plastic pipes, plastic sheets, plastic film, and other plastic products.

    – Panjawattana Plastic PCL ($SET:PJW)

    Panjawattana Plastic is a leading manufacturer of plastic products in Thailand. The company has a market cap of 3.07 billion as of 2022 and a return on equity of 10.99%. Panjawattana Plastic produces a wide range of products including plastic bags, containers, and packaging. The company’s products are used in a variety of industries including food, healthcare, and manufacturing.

    – CYL Corp Bhd ($KLSE:7157)

    CYL Corp Bhd is a company that is involved in the manufacturing and distribution of electrical and electronic products. The company has a market capitalization of 71.5 million as of 2022 and a return on equity of 11.96%. The company’s products include electrical wiring accessories, lighting fixtures, and electrical appliances.

    Summary

    Investors should take note of MYERS INDUSTRIES‘ second quarter of FY2023 earnings report, released on August 3, 2023. Total revenue for the quarter was USD 208.4 million, representing a decline of 10.6% compared to the same period in the prior year. Net income also decreased significantly to USD 10.6 million, down 33.0% from the previous year.

    The stock price reacted to this news by dropping on the same day. This report suggests that investors should do their due diligence before making an investment in MYERS INDUSTRIES as the company is facing some headwinds in terms of profitability.

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