Myers Industries Announces Third Quarter 2025 Results
AKRON, Ohio--( BUSINESS WIRE)--Myers Industries Inc. (NYSE: MYE), a leading manufacturer of products that protect the world from the ground up, today announced results for the third quarter ended September 30, 2025.
Myers Industries President and CEO Aaron Schapper commented, “I am encouraged by the higher gross profit and free cash flow this quarter, indicating Myers' ability to generate value from our core businesses and strengthen operations. We achieved growth in gross profit due to favorable product mix. Infrastructure and Industrial growth was offset by continued softness in Vehicle and Automotive Aftermarket. Scepter's Industrial sales growth more than compensated for the lower weather-driven fuel container sales in the Consumer end market. We made significant improvements in free cash flow, generating $21.5 million during the quarter compared to $10.1 million in the third quarter of 2024. With the idling of two rotational molding production facilities, we have identified $19 million in structural cost reductions, and we remain on track to deliver annualized cost savings of $20 million, primarily in SG&A, by the end of 2025."
Third Quarter 2025 Financial Summary
Quarter Ended September 30,
(Dollars in thousands, except per share data)
2025
2024
% Inc
(Dec)
Net sales
$
205,435
$
205,067
0.2
%
Gross profit
$
68,570
$
65,130
5.3
%
Gross margin
33.4
%
31.8
%
Operating income (loss)
$
17,689
$
(4,764
)
NM
Net income (loss)
$
7,088
$
(10,878
)
NM
Net income (loss) per diluted share
$
0.19
$
(0.29
)
NM
Adjusted operating income
$
20,907
$
20,539
1.8
%
Adjusted net income
$
9,924
$
9,212
7.7
%
Adjusted earnings per diluted share
$
0.26
$
0.25
4.0
%
Adjusted EBITDA
$
30,595
$
30,735
(0.5
)%
Third Quarter 2025 Segment Results
(Dollar amounts in the segment tables below are reported in millions)
Material Handling
Net Sales
Op Income
Op Income
Margin
Adj EBITDA
Adj EBITDA
Margin
Q3 2025 Results
$153.5
$26.6
17.3%
$36.8
24.0%
Q3 2024 Results
$150.7
$0.9
0.6%
$33.5
22.2%
$ Increase (decrease) vs prior year
$2.8
$25.7
$3.4
% Increase (decrease) vs prior year
1.9%
NM
+1,670 bps
10.0%
+180 bps
Items in this table may not recalculate due to rounding
Distribution
Net Sales
Op Income
Op Income
Margin
Adj EBITDA
Adj EBITDA
Margin
Q3 2025 Results
$52.0
$0.8
1.6%
$1.6
3.2%
Q3 2024 Results
$54.4
$2.1
3.9%
$3.2
5.8%
$ Increase (decrease) vs prior year
($2.4)
($1.3)
($1.5)
% Increase (decrease) vs prior year
(4.4)%
(60.6)%
-230 bps
(48.2)%
-260 bps
Items in this table may not recalculate due to rounding
Balance Sheet & Cash Flow
Sale Process Initiated for Myers Tire Supply Business
As a result of the Strategic Review announced in the second quarter of this year, the Company has now initiated a sale process to divest the business. The company has partnered with KeyBanc to act as financial advisor for this process.
2025 End Market Outlook
The following table presents the Company’s current 2025 outlook for each of its end markets. The 2025 outlook is updated from the outlook provided on July 31, 2025.
End Markets (TTM Sales as of September 30, 2025)
2025 Outlook
Industrial (30% of sales)
Akro-Mils ®, Buckhorn ® & Jamco ® containers, organizational bins, totes, carts and cabinets; Scepter ® military ammunition containers; OEM parts for general industrial equipment
Moderate growth
Infrastructure (14% of sales)
Signature Systems™ ground protection matting for construction, industrial sites, and event venues
Strong growth
Vehicle (12% of sales)
RV, marine, and automotive components
Down
Consumer (11% of sales)
Scepter ® fuel containers; outdoor furniture and equipment
Down, affected by absence of U.S. landed storms
Food & Beverage (8% of sales)
Buckhorn ® seed boxes, intermediate bulk containers, and Tuff Series bulk containers for agricultural and chemical customers
Stable
Automotive Aftermarket Distribution (25% of sales)
Distribution sales to tire service aftermarket
Down
Conference Call Details
The Company will host an earnings conference call and webcast for investors and analysts on Thursday, October 30, 2025, at 8:30 a.m. ET. The call is anticipated to last less than one hour and may be accessed using the following online participation registration link: https://www.netroadshow.com/events/login/LE9zwo4BXUEngAbx5H8AnNUHwe2NmdCRXTY. Upon registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast. To access the live webcast or a replay, visit the Company's website www.myersindustries.com and click on the Investor Relations tab. An archived replay of the call will also be available on the site shortly after the event. To listen to the telephone replay, callers should dial: (U.S. Local) 1-929-458-6194 or (U.S. Toll-Free) 1-866-813-9403 and use access code 135145.
Use of Non-GAAP Financial Measures
The Company uses certain non-GAAP measures in this release. Adjusted gross profit, adjusted gross margin, adjusted operating income (loss), adjusted operating income margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA margin, adjusted net income, adjusted earnings per diluted share (adjusted EPS), and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. Myers Industries believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in this news release.
About Myers Industries
Myers Industries Inc., based in Akron, Ohio, is a leading manufacturer of sustainable plastic and metal products that protect the world from the ground up for Consumer, Vehicle, Food & Beverage, Industrial, Infrastructure, and Automotive Aftermarket end markets. Myers Industries has a rich history that is built on strong brands and innovative products. Through years of continuous product development and strategic acquisitions, we have established ourselves as a leading diversified industrial company. We provide critical solutions to our customers, delivering exceptional value. Visit www.myersindustries.com to learn more.
Caution on Forward-Looking Statements
Statements in this release include “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including information regarding the Company’s financial outlook, future plans, objectives, business prospects and anticipated financial performance. Forward-looking statements can be identified by words such as “will,” “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” or variations of these words, or similar expressions. These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, these statements inherently involve a wide range of uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. The Company’s actual actions, results, and financial condition may differ materially from what is expressed or implied by the forward-looking statements.
Specific factors that could cause such a difference on our business, financial position, results of operations and/or liquidity include, without limitation, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world, including the impacts of U.S. and foreign tariff policies; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; unforeseen events, including natural disasters, unusual or severe weather events and patterns, public health crises, geopolitical crises, and other catastrophic events; our ability to successfully execute our announced intended divestiture of the Myers Tire Supply business; and other risks and uncertainties detailed from time to time in the Company’s filings with the SEC, including without limitation, the risk factors disclosed in Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Given these factors, as well as other variables that may affect our operating results, readers should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, nor use historical trends to anticipate results or trends in future periods. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company expressly disclaims any obligation or intention to provide updates to the forward-looking statements and the estimates and assumptions associated with them.
M-INV
MYERS INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(Dollars in thousands, except share and per share data)
Quarter Ended
Nine Months Ended
September 30,
2025
September 30,
2024
September 30,
2025
September 30,
2024
Net sales
$
205,435
$
205,067
$
621,768
$
632,405
Cost of sales
136,865
139,937
413,458
427,489
Gross profit
68,570
65,130
208,310
204,916
Selling, general and administrative expenses
44,426
38,486
132,551
129,747
Depreciation and amortization
4,318
4,868
13,225
13,615
Freight out
2,512
4,332
8,117
9,442
(Gain) loss on disposal of fixed assets
(375
)
192
99
253
Impairment charges
—
22,016
—
22,016
Operating income (loss)
17,689
(4,764
)
54,318
29,843
Interest expense, net
7,497
8,091
22,247
23,176
Income (loss) before income taxes
10,192
(12,855
)
32,071
6,667
Income tax expense (benefit)
3,104
(1,977
)
8,473
3,763
Net income (loss)
$
7,088
$
(10,878
)
$
23,598
$
2,904
Net income (loss) per common share:
Basic
$
0.19
$
(0.29
)
$
0.63
$
0.08
Diluted
$
0.19
$
(0.29
)
$
0.63
$
0.08
Weighted average common shares outstanding:
Basic
37,393,620
37,220,456
37,361,228
37,102,761
Diluted
37,582,062
37,220,456
37,504,164
37,250,512
MYERS INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
(Dollars in thousands)
September 30, 2025
December 31, 2024
Assets
Current Assets
Cash
$
47,965
$
32,222
Trade accounts receivable, net
123,271
109,372
Other accounts receivable, net
6,138
12,654
Inventories, net
99,633
97,001
Other current assets
9,787
8,058
Total Current Assets
286,794
259,307
Property, plant, & equipment, net
131,484
137,564
Right of use asset - operating leases
26,429
30,561
Goodwill and intangible assets, net
410,877
421,853
Deferred income taxes
205
205
Other assets
8,282
11,325
Total Assets
$
864,071
$
860,815
Liabilities & Shareholders' Equity
Current Liabilities
Accounts payable
$
81,569
$
71,049
Accrued expenses
53,312
49,196
Operating lease liability - short-term
6,699
6,597
Finance lease liability - short-term
639
621
Long-term debt - current portion
29,528
19,649
Total Current Liabilities
171,747
147,112
Long-term debt
331,698
355,310
Operating lease liability - long-term
19,701
23,700
Finance lease liability - long-term
7,512
7,994
Other liabilities
15,048
15,303
Deferred income taxes
31,742
33,884
Total Shareholders' Equity
286,623
277,512
Total Liabilities & Shareholders' Equity
$
864,071
$
860,815
MYERS INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(Dollars in thousands)
Quarter Ended September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Cash Flows From Operating Activities
Net income (loss)
$
7,088
$
(10,878
)
$
23,598
$
2,904
Adjustments to reconcile net income (loss) to net cash
provided by (used for) operating activities
Depreciation and amortization
9,688
10,196
29,652
28,760
Amortization of deferred financing costs
541
543
1,621
1,318
Amortization of acquisition-related inventory step-up
—
—
—
4,457
Non-cash stock-based compensation expense
950
190
2,700
737
(Gain) loss on disposal of fixed assets
(375
)
192
99
253
Impairment charges
—
22,016
—
22,016
Other
(162
)
386
(2,831
)
550
Cash flows provided by (used for) working capital
Accounts receivable - trade and other, net
(9,570
)
7,434
(2,127
)
15,646
Inventories
2,154
574
(2,296
)
(1,385
)
Prepaid expenses and other current assets
3,601
2,975
(1,723
)
(1,668
)
Accounts payable and accrued expenses
11,843
(16,301
)
15,507
(21,644
)
Net cash provided by (used for) operating activities
25,758
17,327
64,200
51,944
Cash Flows From Investing Activities
Capital expenditures
(4,245
)
(7,178
)
(15,935
)
(17,302
)
Acquisition of business, net of cash acquired
—
—
—
(348,312
)
Proceeds from sale of property, plant, and equipment
500
28
661
112
Net cash provided by (used for) investing activities
(3,745
)
(7,150
)
(15,274
)
(365,502
)
Cash Flows From Financing Activities
Net borrowings (repayments) from revolving credit facility
(5,000
)
(8,000
)
—
(15,000
)
Proceeds from Term Loan A
—
—
—
400,000
Repayments of Term Loan A
(5,000
)
(5,000
)
(15,000
)
(10,000
)
Repayments of senior unsecured notes
—
—
—
(38,000
)
Payments on finance lease
(155
)
(150
)
(464
)
(442
)
Cash dividends paid
(5,056
)
(5,025
)
(15,439
)
(15,392
)
Proceeds from issuance of common stock
293
295
866
3,053
Shares withheld for employee taxes on equity awards
(44
)
(53
)
(929
)
(2,027
)
Repurchase of common stock
(506
)
—
(2,021
)
—
Deferred financing fees
—
—
—
(9,172
)
Net cash provided by (used for) financing activities
(15,468
)
(17,933
)
(32,987
)
313,020
Foreign exchange rate effect on cash
130
121
(196
)
(42
)
Net increase (decrease) in cash
6,675
(7,635
)
15,743
(580
)
Beginning Cash
41,290
37,345
32,222
30,290
Ending Cash
$
47,965
$
29,710
$
47,965
$
29,710
MYERS INDUSTRIES, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)
(Dollars in thousands)
Quarter Ended September 30, 2025
Material
Handling
Distribution
Segment
Total
Corporate &
Other
Total
Net sales
$
153,540
$
51,967
$
205,507
$
(72
)
$
205,435
Net income (loss)
7,088
Net income margin
3.5
%
Gross profit
68,570
Add: Restructuring expenses and other adjustments
1,102
Adjusted gross profit
69,672
Gross margin as adjusted
33.9
%
Operating income (loss)
26,573
840
27,413
(9,724
)
17,689
Operating income margin
17.3
%
1.6
%
13.3
%
n/a
8.6
%
Add: Restructuring expenses and other adjustments
1,472
71
1,543
1,675
3,218
Adjusted operating income (loss) (1)
28,045
911
28,956
(8,049
)
20,907
Adjusted operating income margin
18.3
%
1.8
%
14.1
%
n/a
10.2
%
Add: Depreciation and amortization
8,769
732
9,501
187
9,688
Adjusted EBITDA
$
36,814
$
1,643
$
38,457
$
(7,862
)
$
30,595
Adjusted EBITDA margin
24.0
%
3.2
%
18.7
%
n/a
14.9
%
(1) Includes gross profit adjustments of $1,102 and SG&A adjustments of $2,116
Quarter Ended September 30, 2024
Material
Handling
Distribution
Segment
Total
Corporate &
Other
Total
Net sales
$
150,718
$
54,384
$
205,102
$
(35
)
$
205,067
Net income (loss)
(10,878
)
Net income margin
-5.3
%
Gross profit
65,130
Add: Restructuring expenses and other adjustments
1,211
Adjusted gross profit
66,341
Gross margin as adjusted
32.4
%
Operating income (loss)
886
2,131
3,017
(7,781
)
(4,764
)
Operating income margin
0.6
%
3.9
%
1.5
%
n/a
-2.3
%
Add: Executive severance costs
—
—
—
1,405
1,405
Add: Restructuring expenses and other adjustments
1,396
220
1,616
417
2,033
Add: Acquisition and integration costs
—
—
—
349
349
Add: Impairment charges
22,016
—
22,016
—
22,016
Less: Environmental reserves, net (2)
—
—
—
(500
)
(500
)
Adjusted operating income (loss) (1)
24,298
2,351
26,649
(6,110
)
20,539
Adjusted operating income margin
16.1
%
4.3
%
13.0
%
n/a
10.0
%
Add: Depreciation and amortization
9,158
823
9,981
215
10,196
Adjusted EBITDA
$
33,456
$
3,174
$
36,630
$
(5,895
)
$
30,735
Adjusted EBITDA margin
22.2
%
5.8
%
17.9
%
n/a
15.0
%
(1) Includes gross profit adjustments of $1,211, impairment charges of $22,016 and SG&A adjustments of $2,076
(2) Includes environmental charges of $200 net of probable insurance recoveries of $700
MYERS INDUSTRIES, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)
(Dollars in thousands)
Nine Months Ended September 30, 2025
Material
Handling
Distribution
Segment
Total
Corporate &
Other
Total
Net sales
$
469,839
$
152,202
$
622,041
$
(273
)
$
621,768
Net income (loss)
23,598
Net income margin
3.8
%
Gross profit
208,310
Add: Restructuring expenses and other adjustments
1,598
Adjusted gross profit
209,908
Gross margin as adjusted
33.8
%
Operating income (loss)
83,426
(878
)
82,548
(28,230
)
54,318
Operating income margin
17.8
%
-0.6
%
13.3
%
n/a
8.7
%
Add: Restructuring expenses and other adjustments
2,631
3,051
5,682
3,981
9,663
Add: Pension termination
1,585
—
1,585
—
1,585
Less: Recovery of purchased credit deteriorated assets
(3,175
)
—
(3,175
)
—
(3,175
)
Adjusted operating income (loss) (1)
84,467
2,173
86,640
(24,249
)
62,391
Adjusted operating income margin
18.0
%
1.4
%
13.9
%
n/a
10.0
%
Add: Depreciation and amortization
26,644
2,368
29,012
640
29,652
Adjusted EBITDA
$
111,111
$
4,541
$
115,652
$
(23,609
)
$
92,043
Adjusted EBITDA margin
23.6
%
3.0
%
18.6
%
n/a
14.8
%
(1) Includes gross profit adjustments of $1,598 and SG&A adjustments of $6,475
Nine Months Ended September 30, 2024
Material
Handling
Distribution
Segment
Total
Corporate &
Other
Total
Net sales
$
468,951
$
163,543
$
632,494
$
(89
)
$
632,405
Net income (loss)
2,904
Net income margin
0.5
%
Gross profit
204,916
Add: Restructuring expenses and other adjustments
4,163
Add: Acquisition-related inventory step-up
4,457
Adjusted gross profit
213,536
Gross margin as adjusted
33.8
%
Operating income (loss)
51,843
4,915
56,758
(26,915
)
29,843
Operating income margin
11.1
%
3.0
%
9.0
%
n/a
4.7
%
Add: Executive severance costs
—
—
—
1,405
1,405
Add: Restructuring expenses and other adjustments
3,860
975
4,835
417
5,252
Add: Acquisition and integration costs
305
—
305
4,132
4,437
Add: Acquisition-related inventory step-up
4,457
—
4,457
—
4,457
Add: Impairment charges
22,016
—
22,016
—
22,016
Less: Insurance recovery of legal fees
(702
)
—
(702
)
—
(702
)
Less: Environmental reserves, net (2)
—
—
—
(700
)
(700
)
Adjusted operating income (loss) (1)
81,779
5,890
87,669
(21,661
)
66,008
Adjusted operating income margin
17.4
%
3.6
%
13.9
%
n/a
10.4
%
Add: Depreciation and amortization
25,706
2,426
28,132
628
28,760
Adjusted EBITDA
$
107,485
$
8,316
$
115,801
$
(21,033
)
$
94,768
Adjusted EBITDA margin
22.9
%
5.1
%
18.3
%
n/a
15.0
%
(1) Includes gross profit adjustments of $8,620, impairment charges of $22,016 and SG&A adjustments of $5,529
(2) Includes environmental charges of $1,000 net of probable insurance recoveries of $1,700
MYERS INDUSTRIES, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
ADJUSTED OPERATING INCOME, ADJUSTED EBITDA AND FREE CASH FLOW (UNAUDITED)
(Dollars in thousands)
Quarter Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Adjusted operating income (loss) reconciliation:
Operating income (loss)
$
17,689
$
(4,764
)
$
54,318
$
29,843
Restructuring expenses and other adjustments
3,218
2,033
9,663
5,252
Pension termination
—
—
1,585
—
Acquisition and integration costs
—
349
—
4,437
Acquisition-related inventory step-up
—
—
—
4,457
Recovery of purchased credit deteriorated assets
—
—
(3,175
)
—
Impairment charges
—
22,016
—
22,016
Insurance recovery of legal fees
—
—
—
(702
)
Executive severance costs
—
1,405
—
1,405
Environmental reserves, net
—
(500
)
—
(700
)
Adjusted operating income (loss)
$
20,907
$
20,539
$
62,391
$
66,008
Adjusted EBITDA reconciliation:
Net income (loss)
$
7,088
$
(10,878
)
$
23,598
$
2,904
Income tax expense (benefit)
3,104
(1,977
)
8,473
3,763
Interest expense, net
7,497
8,091
22,247
23,176
Operating income (loss)
17,689
(4,764
)
54,318
29,843
Depreciation and amortization
9,688
10,196
29,652
28,760
Restructuring expenses and other adjustments
3,218
2,033
9,663
5,252
Pension termination
—
—
1,585
—
Acquisition and integration costs
—
349
—
4,437
Acquisition-related inventory step-up
—
—
—
4,457
Recovery of purchased credit deteriorated assets
—
—
(3,175
)
—
Impairment charges
—
22,016
—
22,016
Insurance recovery of legal fees
—
—
—
(702
)
Executive severance costs
—
1,405
—
1,405
Environmental reserves, net
—
(500
)
—
(700
)
Adjusted EBITDA
$
30,595
$
30,735
$
92,043
$
94,768
Free cash flow reconciliation:
Net cash provided by (used for) operating activities
$
25,758
$
17,327
$
64,200
$
51,944
Capital expenditures
(4,245
)
(7,178
)
(15,935
)
(17,302
)
Free cash flow
$
21,513
$
10,149
$
48,265
$
34,642
MYERS INDUSTRIES, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER DILUTED SHARE (UNAUDITED)
(Dollars in thousands, except per share data)
Quarter Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Adjusted net income (loss) reconciliation:
Net income (loss)
$
7,088
$
(10,878
)
$
23,598
$
2,904
Income tax expense (benefit)
3,104
(1,977
)
8,473
3,763
Income (loss) before income taxes
10,192
(12,855
)
32,071
6,667
Restructuring expenses and other adjustments
3,218
2,033
9,663
5,252
Pension termination
—
—
1,585
—
Acquisition and integration costs
—
349
—
4,437
Acquisition-related inventory step-up
—
—
—
4,457
Recovery of purchased credit deteriorated assets
—
—
(3,175
)
—
Impairment charges
—
22,016
—
22,016
Insurance recovery of legal fees
—
—
—
(702
)
Executive severance costs
—
1,405
—
1,405
Environmental reserves, net
—
(500
)
—
(700
)
Adjusted income (loss) before income taxes
13,410
12,448
40,144
42,832
Income tax expense, as adjusted (1)
(3,486
)
(3,236
)
(10,437
)
(11,136
)
Adjusted net income (loss)
$
9,924
$
9,212
$
29,707
$
31,696
Adjusted earnings per diluted share reconciliation:
Net income (loss) per common diluted share
$
0.19
$
(0.29
)
$
0.63
$
0.08
Restructuring expenses and other adjustments
0.09
0.05
0.26
0.14
Pension termination
—
—
0.04
—
Acquisition and integration costs
—
0.01
—
0.12
Acquisition-related inventory step-up
—
—
—
0.12
Recovery of purchased credit deteriorated assets
—
—
(0.08
)
—
Impairment charges
—
0.59
—
0.59
Insurance recovery of legal fees
—
—
—
(0.02
)
Executive severance costs
—
0.04
—
0.04
Environmental reserves, net
—
(0.01
)
—
(0.02
)
Adjusted effective income tax rate impact
(0.01
)
(0.14
)
(0.05
)
(0.20
)
Adjusted earnings per diluted share (2)
$
0.26
$
0.25
$
0.79
$
0.85
Items in this table may not recalculate due to rounding
(1) Income taxes are calculated using the normalized effective tax rate for each year. The rate used in 2025 is 26% and in 2024 is 26%.
(2) Adjusted earnings per diluted share is calculated using the weighted average common shares outstanding for the respective period.