Myers Industries, Inc. (MYE): Business Model Canvas [Dec-2025 Updated]

You're looking past the headlines to truly understand the engine driving Myers Industries, Inc. right now, especially following their Q3 2025 results and the ongoing Focused Transformation plan. Honestly, the current business model is a study in strategic realignment: they are aggressively targeting $20 million in annualized SG&A savings while anchoring value propositions in over 90% domestic Material Handling production, all built on a trailing twelve-month revenue base of $825.64 million. Before you decide where this company is headed, you need to see the precise structure-the key resources, the customer segments like Industrial and Military, and the revenue streams-that underpin their $205.4 million Q3 sales performance. Dive into the full Canvas below to see the nuts and bolts of their strategy.

Myers Industries, Inc. (MYE) - Canvas Business Model: Key Partnerships

You're looking at the critical external relationships Myers Industries, Inc. (MYE) relies on to execute its strategy, especially as it streamlines its portfolio. These alliances are key to financing operations and reaching customers.

Financial Advisory for Divestiture

Myers Industries, Inc. formally engaged an external financial advisor to manage the strategic review and sale process for its Myers Tire Supply business. This partnership was announced following the third quarter of 2025 results on October 30, 2025. The firm selected to act as the financial advisor for this divestiture process is KeyBanc. The Myers Tire Supply business generated revenue of $189 million over the twelve months ending June 30, 2025. This strategic move is intended to simplify the company's portfolio and sharpen focus on core businesses.

Credit Facility Administration and Financing Partners

The company maintains a relationship with JPMorgan Chase Bank, N.A., which serves as the administrative agent for its revolving credit facility. As of the end of the third quarter of 2025, Myers Industries, Inc. reported total liquidity of $292.7 million. This liquidity included $244.7 million of availability under the revolving credit facility. The aggregate committed principal amount of this facility is noted as $250 million. The net leverage ratio for Myers Industries, Inc. stood at 2.6x as of September 30, 2025.

The key financial metrics related to the credit facility and overall liquidity as of late 2025 are summarized below:

Strategic Suppliers

Myers Industries, Inc. depends on strategic suppliers for the consistent provision of raw plastic and metal materials necessary for its manufacturing operations across its segments, including rotational molding and other product lines. The company competes on product quality and supply chain competency.

E-commerce Platform Reach

Direct-to-consumer reach is significantly bolstered by e-commerce partnerships, with Amazon being a long-standing and crucial channel. Myers Industries, Inc. has utilized the Amazon marketplace since 2013. The company views expanding its e-commerce presence as vital for growing its material handling and distribution segments faster than the market average. For the fourth quarter of 2024, the e-commerce channel generated $36 million in sales, representing a 12% growth rate. The company's total net sales for the full year 2023 were $813.1 million.

The focus on digital channels involves specific initiatives:

• Increasing product listings on Amazon.
• Leveraging the platform to reach a wide customer base.
• Expanding e-commerce sales within the distribution business segment.
• The e-commerce channel growth rate is reported as faster than the industry average.

This digital partnership helps support major brands like Akro-Mils, Scepter, and Jamco. Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Key Activities

The Key Activities for Myers Industries, Inc. center on manufacturing excellence, strategic operational improvement, maintaining a domestic production base, and targeted product innovation for key end-markets.

Manufacturing sustainable plastic and metal products.

Myers Industries, Inc. is actively engaged in the production of polymer and metal goods, with a clear focus on incorporating circular economy principles into its operations. For example, in 2024, the company saw its internal regrind usage in production increase by a notable 256%, amounting to over 2.75 million pounds. Also in 2024, external recycled material purchases grew by 4.7%, moving from 1.16 million pounds to 1.21 million pounds. This manufacturing activity supports the Material Handling segment, which accounted for approximately 76% of total sales in Q1 2025.

Executing the Focused Transformation plan for cost reduction.

A critical activity is the execution of the Focused Transformation initiative, designed to enhance efficiency and profitability across the organization. The commitment is to realize $20 million in annualized cost savings, primarily within Selling, General, and Administrative (SG&A) expenses, by the end of 2025. The progress toward this goal is being tracked closely, as you can see here:

This disciplined cost optimization is vital for improving financial performance, especially as Q3 2025 net sales were $205.435 million.

Managing a predominantly U.S.-based manufacturing footprint.

Myers Industries, Inc. manages its production with a strong domestic bias, which helps build supply chain resilience and mitigate tariff impacts. As of Q1 2025, fifteen of the company's sixteen manufacturing sites were located within the U.S. This domestic focus is expected to cover a significant portion of the Material Handling segment's sales, with over 90% of that segment's 2025 revenue projected to be manufactured domestically.

Product development for military, infrastructure, and industrial markets.

Product development and portfolio enhancement are key activities, often driven by strategic acquisitions like Signature Systems, which bolstered infrastructure offerings. The company is seeing strong demand in specific areas, leading to focused product launches and sales targets. You should note the following:

• Aiming to exceed $40 million in military product sales for 2025.
• Infrastructure sector is showing strong growth potential.
• New product introductions, such as the Schwig's Garden Box™, launched in July 2025 by Elkhart Plastics.
• Scepter military products contributed to higher gross profit in Q3 2025.

The Industrial sector represented 30% of Q1 2025 sales, and the Infrastructure sector accounted for 13% of Q1 2025 sales, showing where development resources are being directed.

Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Key Resources

You're looking at the core assets Myers Industries, Inc. (MYE) relies on to run its business as of late 2025. These aren't just line items on a balance sheet; they are the tangible and intangible foundations supporting their Material Handling and Distribution segments.

Operationally, the company maintains a significant domestic manufacturing footprint. This is a key differentiator, especially when customers are focused on supply chain security. As of early 2025, the company confirmed that 15 of its 16 manufacturing sites were located within the U.S.. This domestic concentration helps insulate a large portion of their revenue from international logistics shocks.

Financially, the balance sheet as of the third quarter of 2025 shows a very solid liquidity position, which gives management flexibility for capital allocation, including the ongoing strategic review of the Myers Tire Supply business. Here's a quick look at the key figures supporting that strength:

The strength of Myers Industries, Inc. is also deeply tied to its established market presence through its product portfolio. These brands are the direct connection to the customer value proposition across industrial, infrastructure, and consumer markets.

The company leverages several strong product brands:

• Scepter, notably strong in military applications.
• Signature, which drives growth in the Infrastructure segment.
• Akro-Mils, serving the Industrial market with organizational bins and totes.
• Jamco, also contributing to Industrial segment sales.

Finally, a less visible but critical resource is the company's proprietary knowledge base. Myers Industries, Inc. possesses intellectual property related to polymer and metal solutions. This encompasses the engineering and manufacturing know-how behind their durable, sustainable products used across construction, agriculture, and military sectors. Honestly, this IP is what allows them to maintain margin expansion through favorable product mix, even when volume is soft in other areas.

Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Value Propositions

You're looking at how Myers Industries, Inc. (MYE) delivers unique value to its customers, which is heavily rooted in domestic manufacturing and targeted product performance. This isn't just about making plastic things; it's about providing reliability where failure isn't an option.

Supply chain resilience via over 90% domestic Material Handling production.

Myers Industries leans hard into North American production for its Material Handling segment. This is a direct value proposition for customers worried about overseas shipping delays or tariffs. As of the first quarter of 2025, the company expected more than 90% of revenue from this segment to be manufactured within the U.S.. To support this, fifteen of their sixteen manufacturing sites are located in the U.S.. This domestic footprint offers sourcing optionality and insulation from international trade disruptions.

Critical, protective plastic and metal solutions for diverse end markets.

The company serves a range of demanding sectors with its protective solutions. The performance across these diverse markets in the third quarter of 2025 shows where the value is landing. For instance, the Material Handling segment delivered a strong adjusted EBITDA margin of 24.0% in Q3 2025. Conversely, the Distribution segment, which includes the softer Automotive Aftermarket, saw an adjusted EBITDA margin of just 3.2% in the same period.

Here's a quick look at how those segments stacked up in Q3 2025:

Total net sales for Myers Industries in Q3 2025 were $205.4 million.

High-performance military logistics products (Scepter).

The Scepter brand provides high-performance polymer solutions specifically for military logistics, a critical area where product failure is not an option. These solutions are trusted by NATO allied forces globally. A key value driver here is weight reduction; Scepter's polymer packaging can be up to 41% lighter than traditional steel alternatives. This weight efficiency directly translates into improved mobility and reduced fuel consumption for military operations. In Q3 2025, Industrial sales growth, particularly from Scepter military products, helped offset softness in other areas.

Cost-competitive products driven by $20 million in annualized SG&A savings.

Myers Industries is actively driving cost competitiveness through its Focused Transformation initiative. The commitment is clear: deliver $20 million in annualized cost savings, primarily within Selling, General, and Administrative (SG&A) expenses, by the end of 2025. By the third quarter of 2025, the company had already identified $19 million in structural cost reductions through actions like idling two rotational molding production facilities. These savings help keep product pricing competitive while improving internal efficiency.

The transformation efforts are designed to achieve specific financial outcomes:

• Commitment to implement $20 million of annualized cost savings by year-end 2025.
• Structural cost reductions identified reached $19 million as of Q3 2025.
• The company is focused on eliminating redundancy and elevating decision-making.
• The initiative is also tied to a $10 million 2025 Share Repurchase Program.

Myers Industries, Inc. (MYE) - Canvas Business Model: Customer Relationships

You're looking at how Myers Industries, Inc. manages its diverse customer base across its two main segments-Material Handling and Distribution-as of late 2025. The relationship strategy is clearly segmented based on the customer type and the nature of the transaction, moving from deep, direct engagement to scalable, self-service channels.

For the industrial and military clients, the relationship is built on direct sales and what we expect are long-term contractual agreements, given the nature of the products. The Industrial sector was a significant contributor, making up 30% of net sales in the first quarter of 2025. Furthermore, the focus on defense is clear; military product sales are projected to exceed $40 million for the full year of 2025, suggesting strong, committed order books for those specific relationships. This B2B focus is where the Material Handling segment shines, which saw its net sales increase by 3.6% year-over-year in Q1 2025, with its adjusted EBITDA margin hitting 23% in that period.

Here's a quick look at the segment revenue contribution based on Q1 2025 data, which helps frame where the direct sales effort is concentrated:

Dedicated sales teams are definitely deployed for the larger, more complex accounts, particularly within the infrastructure and agricultural spaces. The Infrastructure sector represented 13% of Q1 2025 sales, showing strong demand supported by ongoing projects. The company noted that new customers, likely secured through these dedicated teams, contributed over 20% of revenue so far in 2025, which is a pace ahead of 2024. This suggests successful penetration into new, large-scale accounts.

The self-service component is critical for the consumer and aftermarket segments, which largely fall under the Distribution business. While the Distribution segment saw net sales decrease by 10.3% year-over-year in Q1 2025, the strategy pivots heavily toward e-commerce to capture growth in these areas. Myers Industries, Inc. views its online channel as expanding faster than the industry average. This digital approach supports brands like Scepter and helps manage the aftermarket relationships, even as the Myers Tire Supply revenue stood at $189 million for the twelve months ending June 30, 2025.

The e-commerce strategy is focused on scalability and reach:

• Leveraging the Amazon marketplace, where they have sold since 2013.
• Expanding product listings across major online retail platforms.
• Driving growth in the Distribution segment through online channels.
• Supporting key power brands like Akro-Mils and Scepter digitally.

To be fair, the overall strategy balances these direct and self-service approaches with operational discipline; the company is on track to deliver $20 million in annualized cost savings, primarily in SG&A, by the end of 2025, which helps maintain competitive pricing for all customer types.

Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Channels

You're looking at how Myers Industries, Inc. gets its products to market as of late 2025. The channel strategy is clearly bifurcated, moving toward a more focused portfolio following significant strategic actions.

Direct Sales Force to Industrial, Military, and Infrastructure Customers

The direct sales effort targets high-value, project-based customers within the Industrial and Infrastructure segments. This channel is key for specialized products like Signature Systems™ ground protection matting and Scepter® military ammunition containers. The focus here is on securing large contracts, evidenced by the company expecting military product sales to exceed $40,000,000 for the full year 2025. The Infrastructure segment is noted for strong growth, which is typically supported by direct engagement with construction and event venue clients.

The Material Handling segment, which houses these direct-to-customer sales, showed strong performance, with its adjusted EBITDA margin reaching 24.0% in the third quarter of 2025, compared to 22.2% year-over-year.

E-commerce Platforms, Notably Amazon, for Consumer Product Distribution

Myers Industries, Inc. is actively expanding its e-commerce strategy, viewing online channels like Amazon as crucial for reaching a wider customer base faster than the market average, especially for Material Handling and Distribution products. The company has used Amazon since 2013. For the 2024 Amazon Prime Day event, customers had access to 70 Myers products from key brands. This channel supports the distribution of consumer-facing items, though the Consumer end market itself saw lower sales in Q3 2025 due to the absence of U.S.-landed storms pressuring fuel container demand.

Third-Party Distributors for the Distribution Segment (Myers Tire Supply, pending divestiture)

This channel is currently undergoing a major transition, as the Board of Directors approved a strategic review of the Myers Tire Supply business, with KeyBanc selected as the financial advisor to manage the potential divestiture. This distribution arm, which serves the Automotive Aftermarket, faced headwinds. For the trailing twelve months ending June 30, 2025, Myers Tire Supply generated sales of $189,000,000. In the third quarter of 2025, the overall Distribution segment net sales decreased by 4.4% year-over-year, and its adjusted EBITDA margin was soft at 3.2%.

Here's a look at the segment performance that informs the channel strategy shift:

Retail Channels for Consumer Fuel and Storage Containers

Retail channels are the primary outlet for consumer products, such as Scepter® fuel cans. While the company does not break out retail sales specifically, the performance of the Consumer end market directly reflects the health of these channels. The Consumer end market was noted as being down in Q3 2025 because of the lack of U.S.-landed storms, which typically drives demand for fuel containers through retail outlets.

The overall channel health reflects a company streamlining its focus:

• Infrastructure Sales Growth: Supported by direct sales and project-based channels.
• Military Sales Target: Expected to exceed $40,000,000 for FY 2025.
• E-commerce Expansion: Growing faster than the industry average, with 70 products listed on Amazon for Prime Day 2024.
• Distribution Segment Sales Decline: Q3 2025 net sales fell 4.4% YoY.
• Capital Expenditure Alignment: The company targets CapEx near 3% of sales, indicating disciplined investment across remaining channels.

Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Customer Segments

You're looking at how Myers Industries, Inc. (MYE) segments its customer base as of late 2025. This isn't just a list; it's where the revenue is actually coming from, and you can see where the near-term pressure points are.

The overall company reported third-quarter 2025 net sales of $205.4 million, with the adjusted gross margin expanding to 33.9%, which shows the strength in certain areas is helping offset softness elsewhere.

Here's how the key customer segments stack up based on recent performance and stated goals:

The Industrial and Military segment, anchored by Scepter products, is clearly a growth engine. The company is aiming for military product sales to exceed $40 million for the full year 2025. This strength in the Material Handling business helped drive margin expansion in the third quarter.

The Infrastructure and Construction segment is seeing the benefit of the Signature Systems acquisition, which closed in early 2024. This acquisition is baked into the 2025 financial outlook, with management projecting $0.20 to $0.30 in EPS accretion for the year. This segment is positioned for long-term growth driven by worldwide infrastructure investments.

You have to watch the more cyclical areas, though. The Food & Beverage/Agriculture segment saw pressure from cyclical seed box demand toward the end of 2024. Similarly, the Vehicle market, covering RV, marine, and heavy truck needs, was noted as facing softness throughout the first three quarters of 2025.

Overall, Myers Industries, Inc. is executing a transformation, targeting $20 million in annualized cost savings by the end of 2025, primarily in SG&A, to help navigate these mixed end-market results.

Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Cost Structure

You're looking at the cost side of Myers Industries, Inc. (MYE) as of late 2025. The focus here is on where the money goes, especially with the ongoing transformation efforts to sharpen the cost profile.

The largest component of costs relates directly to making the products. For the third quarter ended September 30, 2025, the Cost of Goods Sold (COGS), which encompasses raw material and manufacturing costs, was substantial. Using the reported figures for that quarter, the COGS was approximately \$136.87 million, derived from Net Sales of \$205.435 million and Gross Profit of \$68.570 million.

Myers Industries, Inc. has been aggressive in streamlining operations, which directly impacts these costs. A key initiative involves structural cost reductions. The company has identified \$19 million in structural cost reductions through actions like idling two rotational molding production facilities to improve utilization and reduce overhead.

The overall goal for this efficiency drive is significant. Myers Industries remains on track to deliver \$20 million in annualized cost savings by the end of 2025. A major area targeted for these savings is the Selling, General, and Administrative (SG&A) expenses, which is a common focus for corporate streamlining efforts.

For capital deployment, the company maintains a disciplined approach. Capital expenditures (CapEx) are budgeted to remain around 3% of sales, focusing investment on high-growth opportunities that offer superior returns. For instance, in the third quarter of 2025, actual Capital Expenditures were reported at \$4.2 million.

Here's a quick look at some of the key financial metrics relevant to the cost structure as of the third quarter of 2025:

The company's cost management strategy is clearly articulated through these targets and actions. You can see the commitment to operational rigor in the stated goals:

• Structural cost reductions identified: \$19 million.
• Total annualized cost savings target by year-end 2025: \$20 million.
• Primary focus area for savings: SG&A expenses.
• Capital expenditures target: Around 3% of sales.
• Q1 2025 CapEx was \$8.1 million on sales of \$206.8 million, which is about 3.9%.

To be fair, the actual CapEx in Q3 2025 at \$4.2 million on sales of \$205.435 million is closer to 2.0%, suggesting spending might be managed below the 3% target depending on project timing. Finance: draft 13-week cash view by Friday.

Myers Industries, Inc. (MYE) - Canvas Business Model: Revenue Streams

You're looking at the top-line mechanics for Myers Industries, Inc. (MYE) as of late 2025, focusing strictly on where the money comes from.

The total revenue picture for the third quarter of 2025 shows $205.4 million in net sales. For the trailing twelve months ending with Q3 2025, the annualized revenue stands at $825.64 million.

Revenue streams are clearly segmented, with the Material Handling business being the dominant contributor, while the Distribution segment is undergoing a strategic reassessment, signaled by the initiation of a sale process for Myers Tire Supply.

Material Handling product sales drive the majority of the top line, encompassing revenue from Infrastructure, Industrial, and Consumer end markets. The Infrastructure and Industrial end markets, including military products, showed higher demand, helping to offset softness elsewhere.

Here's the quick math on the segment breakdown for Q3 2025:

Sales from the Distribution segment, which includes the Automotive Aftermarket business, showed a decline. For Q3 2025, the Distribution segment reported net sales of $52.0 million, representing a 4.4% year-over-year decrease. This softness is tied to the Automotive Aftermarket.

The revenue composition by end market within the segments includes:

• Infrastructure demand driving Material Handling growth.
• Industrial sales growth, particularly from Scepter's industrial products, contributing to Material Handling revenue.
• Lower weather-driven fuel container sales impacting the Consumer end market within Material Handling.
• Automotive Aftermarket softness affecting the Distribution segment sales.

Finance: draft 13-week cash view by Friday.