Myers Industries (Myers Industries) Interest Expense : $-6.3 Mil (TTM As of Dec. 2023)

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What is Myers Industries Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Myers Industries's interest expense for the three months ended in Dec. 2023 was $ -1.4 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-6.3 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Myers Industries's Operating Income for the three months ended in Dec. 2023 was $ 18.5 Mil. Myers Industries's Interest Expense for the three months ended in Dec. 2023 was $ -1.4 Mil. Myers Industries's Interest Coverage for the quarter that ended in Dec. 2023 was 13.45. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Myers Industries Interest Expense Historical Data

The historical data trend for Myers Industries's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Myers Industries Interest Expense Chart

Myers Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-4.08

-4.69

-4.21

-5.73

-6.35

Myers Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-1.65	-1.65	-1.79	-1.54	-1.37

Myers Industries Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-6.3 Mil.

Myers Industries (NYSE:MYE) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Myers Industries's Interest Expense for the three months ended in Dec. 2023 was $-1.4 Mil. Its Operating Income for the three months ended in Dec. 2023 was $18.5 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $63.0 Mil.

Myers Industries's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	18.486	/	-1.374
	=	13.45

The higher the ratio, the stronger the company's financial strength is.

Myers Industries (Myers Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Myers Industries Inc (NYSE:MYE) » Definitions » Interest Expense

Comparable Companies

PACK TRS KRT VKSC YHGJ MGIH DSS OCTO AMBP OI BALL AVY PKG AMCR IP WRK DUB:SK3 CCK TSX:CCL.A GPK

Traded in Other Exchanges

MJF:Germany

Address

1293 South Main Street, Akron, OH, USA, 44301

Website

https://www.myersindustries.com

Myers Industries Inc is a plastic manufacturer of returnable packaging, storage and safety products and specialty molding. It manufactures a range of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. It operates through the following segments: The Material Handling segment, which designs manufactures and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under-vehicle service on passenger, heavy truck, and off-road vehicles.

Executives

Yvette Dapremont Bright	director	739 WESTVIEW STREET, PHILADELPHIA PA 19119
Michael P. Mcgaugh	director, officer: President and CEO	1293 SOUTH MAIN STREET, AKRON OH 44301
Fitz E Grant	officer: EVP & CFO	C/O BLINK CHARGING CO., 407 LINCOLN ROAD, SUITE 704, MIAMI BEACH FL 33139
Lori A. Lutey	director	3101 PACKERLAND DRIVE, GREEN BAY WI 54313
Jeffrey Kramer	director	C/O SCHWEITZER-MAUDUIT INTERNT'L, INC., SUITE 600, ALPHARETTA GA 30022
Liebau Frederic Jack Jr	director	P.O. BOX 2200, PASADENA CA 91102-2200
William A Foley	director	P O BOX 10060, TOLEDO OH 436990060
Monica P. Vinay	officer: Interim CFO, VP and Treasurer	1293 SOUTH MAIN STREET, AKRON OH 44301
Bruce M Lisman	director	C/O MERCHANTS BANK, 275 KENNEDY DR, S. BURLINGTON VT 05403
Ronald M Defeo	director	600 GRANT STREET, SUITE 5100, PITTSBURGH PA 15219
Jim Gurnee	officer: VP Sales/Marketing/Commercial	1293 S MAIN ST, AKRON OH 44301
Paul Allan Johnson	officer: VP, Distribution Segment	1293 SOUTH MAIN STREET, AKRON OH 44301
Jeffrey Jon Baker	officer: VP, Shared Services	1293 SOUTH MAIN STREET, AKRON OH 44301
Sarah R Coffin	director	31515 BALLANTYNE CORP, C/O SPX CORP, CHARLOTTE NC 28277
Sonal P. Robinson	officer: EVP, Finance	1293 SOUTH MAIN STREET, AKRON OH 44301