(Adds Outlook)
Myers Industries Inc. (MYE) said it now expects full-year earnings per share to be at the lower end of its previously provided outlook based on first-quarter results and weakness in automotive aftermarket, vehicle and consumer end markets.
The company had earlier provided full-year adjusted earnings per share outlook in the range of $1.30 to $1.45. Net sales for the year are expected to grow 15 percent - 20 percent.
Q1 Results:
Myers Industries reported a profit for first quarter that decreased from the same period last year
The company's bottom line totaled $3.50 million, or $0.09 per share. This compares with $12.98 million, or $0.35 per share, in last year's first quarter.
Excluding items, Myers Industries Inc. reported adjusted earnings of $7.92 million or $0.21 per share for the period.
The company's revenue for the quarter fell 4.0% to $207.10 million from $215.74 million last year.
Myers Industries Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $3.50 Mln. vs. $12.98 Mln. last year.
-EPS (Q1): $0.09 vs. $0.35 last year.
-Revenue (Q1): $207.10 Mln vs. $215.74 Mln last year.
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