Myers Industries (NYSE: MYE) reported Q3 EPS of $0.11, in-line with the analyst estimate of $0.11. Revenue for the quarter came in at $144.08 million versus the consensus estimate of $139.08 million.

2017 Outlook

The Company has revised its fiscal year 2017 outlook. The Company now anticipates that total revenue will be up low single digits on a constant currency basis in 2017 as compared to the prior year due to continued strength in the food and beverage and consumer end markets. This compares to the Company’s previous expectations for flat sales compared to the prior year. Capital expenditures are now expected to be in the range of $7 to $9 million, net interest expense in the range of $7 to $8 million, depreciation and amortization in the range of $32 to $34 million, and an effective tax rate (normalized) of approximately 36%.

Third Quarter 2017 Business Highlights

• Net sales increased 8.6% (or 8.1% excluding currency fluctuation) compared to the third quarter of 2016
• Gross profit margin of 28.3% compared to 27.1% in the third quarter of 2016
• GAAP net income per diluted share from continuing operations of $0.11, compared to $0.01 in the third quarter of 2016
• Adjusted net income per diluted share from continuing operations of $0.11, compared to $0.04 in the third quarter of 2016
• Generated cash from continuing operations of $12.5 million and free cash flow of $9.7 million
• Company raises full-year net sales outlook to low single-digit growth vs. previous outlook of flat sales year-over-year

For earnings history and earnings-related data on Myers Industries (MYE) click here.