Myers Industries Revenue Jumps 24.5% to $277.8 Million, Lifting 2026 Outlook
Key Facts
Myers Industries reported revenue of $277.8 million for the quarter ended September 30, 2026, up 24.5% year over year, and raised its full-year revenue growth outlook. Revenue compared with $223.1 million in the third quarter of 2025, while the company posted organic growth of 6.5% during the quarter. Chief Executive Thomas Logan said orders continued their upward trend, driven in part by increased nuclear energy-related orders. Results showed improvement in net income and adjusted earnings, while the company revised its annual forecasts unevenly, raising revenue and cash flow expectations while lowering earnings and margin expectations. The divergence puts the pace of converting orders into revenue and the impact of acquisitions among the key factors to watch in the company’s performance.
GAAP net income was $7.8 million, up 151.6% from $3.1 million in the year-earlier period. Adjusted EBITDA rose to $64.8 million from $52.4 million, an increase of 23.7%. GAAP diluted earnings per share were $0.03, compared with $0.01 a year earlier. Adjusted earnings per share held at $0.12, the same level reported in the third quarter of 2025. The company said in a statement that its calculation of adjusted earnings per share for the current period includes stock-based compensation expense.
Orders were $340 million excluding the Paragon acquisition and CerTrak’s July results, up 62% from $209 million in the third quarter of 2025. Including the acquisition and CerTrak’s July results, the total reached $386 million, up 85% year over year. Logan said nuclear energy-related orders rose 105% during the quarter, while organic revenue grew 6.5%. The gap between order growth and revenue growth highlights differing paces for the two metrics during the period, with the reported order figures using different calculation bases. Orders excluding the two acquisitions were $229 million in the second quarter, up 10% year over year from $208 million in the comparable period.
Myers Industries raised its forecast for total revenue growth in 2026 to about 24%–25%, from its previous range of 22.0%–24.0%, with the new estimate including the effects of foreign exchange rates and acquisitions. It also increased its organic revenue growth forecast to 7%–8% from 5.0%–7.0%. For the fourth quarter, Logan said the company expects organic growth in the mid- to high-teens. Investing.com analysts had estimated revenue of $275.35 million and adjusted earnings per share of $0.12 before the results; actual revenue came in above that estimate. Second-quarter revenue was $266.8 million, up 19.7% from $222.9 million in the second quarter of 2025.
By contrast, the company cut its 2026 adjusted EBITDA forecast to $285–292 million from $285–300 million. It also narrowed its adjusted EBITDA margin range to 24.7%–25.2% from 25.0%–26.0%. The company lowered its adjusted earnings per share forecast range to $0.50–$0.54 from $0.48–$0.55. This was offset by an increase in its adjusted free cash flow forecast to $170–185 million from $155–175 million. The company also raised its expected adjusted free cash flow conversion rate to 60%–63% of adjusted EBITDA, compared with 54%–58% previously.
Adjusted free cash flow was $47 million in the third quarter and reached $107 million from the start of the year through September 30. Logan said the company expects to reduce net leverage to about 2.6 times by the end of 2026. Myers Industries says it has a presence at more than 98% of commercial nuclear power plants worldwide, and that about 80% of its nuclear energy-related revenue comes from reactors currently in operation. This puts the existing nuclear fleet at the center of its business context, alongside the increase in nuclear energy-related orders during the quarter. The company is scheduled to hold a call to discuss its third-quarter results on October 28, 2026, at 10:00 a.m. Eastern time.