Shares fall 17% as company lowers earnings outlook
- Myers Industries shares drop 17% on cautious outlook
- Company guiding toward lower end of earnings outlook
- Weakening demand in three end markets
- Shares have fallen into negative territory year-to-date
- First-quarter sales and earnings decline
Shares of Myers Industries fell 17% after the company announced a cautious outlook for the near term. The company cited weakening demand in three of its end markets, including the cyclical vehicle and consumer markets. Additionally, lower volumes and revenue in the distribution segment were attributed to demand weakness in the automotive aftermarket. First-quarter sales declined to $207.1 million from $215.7 million in the previous year, while earnings per share fell from 35 cents to 9 cents. This decline in sales and earnings has caused shares to fall into negative territory year-to-date.
Factuality Level: 9
Factuality Justification: The article provides factual information about Myers Industries’ stock performance, earnings outlook, reasons for the decline, and financial figures. There are no digressions, misleading information, sensationalism, or bias present in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about Myers Industries’ stock performance, earnings outlook, and reasons for the decline. It stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Myers Industries
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the earnings outlook and stock performance of Myers Industries.
Public Companies: Myers Industries (MYE)
Key People: Mike McGaugh (Chief Executive)
Reported publicly:
www.marketwatch.com 
