Myers Industries Inc. (NYSE:MYE) reports 2Q18 Profit Surge

Myers Industries Inc. (NYSE:MYE) headquartered in Akron, Ohio, announced income from continuing operation for the second quarter of $ 8.61 million or $ 0.26 per share, compared to income $ 2.48 million or $ 0.08 per share for the year-ago quarter.

The company recorded second quarter adjusted income from continuing operation of $ 9.05 million or $ 0.27 per share, while analysts from Thomson Reuters expected income of $ 0.25 per share.

Top line figures for the second quarter rose 4% to $ 140.56 million from $ 135.25 million in the same quarter last year, where as analysts anticipated $ 144.30 million.

For fiscal year 2018, the Company continues to anticipate that total revenue will be up low-to-mid-single digits on a constant currency basis compared to the prior year based on strong backlog, tempered by the non-recurrence of some large, one-time orders delivered in the second half of 2017.

President and CEO, Dave Banyard commented, We are pleased with the continued improvement in our business during the second quarter, which demonstrated another consecutive quarter of year-over-year growth in both sales and earnings. Our focus on niche market strategies drove double-digit sales growth across three of our key end markets, including consumer, vehicle, and food and beverage.

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