MYERS INDUSTRIES INC, 10-Q filed on 10/30/2025
Quarterly Report
v3.25.3
Document and Entity Information - shares
 9 Months Ended
Sep. 30, 2025
Oct. 24, 2025
Cover [Abstract]    
Entity Registrant Name Myers Industries, Inc.  
Entity Central Index Key 0000069488  
Trading Symbol MYE  
Document Type 10-Q  
Document Period End Date Sep. 30, 2025  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Entity Shell Company false  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Common Stock, Shares Outstanding   37,407,915
Entity File Number 001-08524  
Entity Tax Identification Number 34-0778636  
Entity Address, Address Line One 1293 South Main Street  
Entity Address, City or Town Akron  
Entity Address, State or Province OH  
Entity Address, Postal Zip Code 44301  
City Area Code 330  
Local Phone Number 253-5592  
Entity Incorporation, State or Country Code OH  
Entity Interactive Data Current Yes  
Title of 12(b) Security Common Stock, without par value  
Security Exchange Name NYSE  
Document Quarterly Report true  
Document Transition Report false  
v3.25.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Net sales $ 205,435 $ 205,067 $ 621,768 $ 632,405
Cost of sales 136,865 139,937 413,458 427,489 [1]
Gross profit 68,570 65,130 208,310 204,916
Selling, general and administrative expenses 44,426 38,486 [2],[3],[4] 132,551 [5],[6] 129,747 [2],[3],[4]
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 0 22,016 [7] 0 22,016 [7]
Operating income (loss) [8] 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
[1]

(5) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the nine months ended September 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3.
[2]

(6) The Company incurred $0.3 million and $4.4 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter and nine months ended September 30, 2024, of which $0.3 million and $4.1 million are included in Corporate for the quarter and nine months ended September 30, 2024, respectively and $0.3 million is included in Material Handling's results for the nine months ended September 30, 2024.
[3]

(1) The Company recognized $(0.5) million and $(0.7) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter and nine months ended September 30, 2024, respectively, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.
[4] (8) The Company recognized $1.4 million of executive severance which is included in Corporate's results for the quarter and nine months ended September 30, 2024.
[5]

(3) During the nine months ended September 30, 2025, the Company recognized a $1.6 million pre-tax pension settlement charge within the Material Handling segment, as described in Note 1.

[6]

(4) The Company recognized a $3.2 million recovery of purchased credit deteriorated assets for the nine months ended September 30, 2025, as described in Note 3. The recovery was recognized as a reduction to bad debt expense included in Selling, general and administrative within the Material Handling segment.
[7]

(9) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 7, for the quarter and nine months ended September 30, 2024, which are included in Material Handling's results.
[8]

(2) The Company incurred $3.2 million and $9.7 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2025, of which $1.5 million and $2.6 million are included in Material Handling, $0.1 million and $3.1 million are included in Distribution and $1.7 million and $4.0 million are included with Corporate's results, respectively. The Company incurred $2.0 million and $5.3 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2024, of which $1.4 million and $3.9 million are included in Material Handling and $0.2 million and $1.0 million are included in Distribution's results, respectively and $0.4 million is included in Corporate's results, for the quarter and nine months ended September 30, 2024.
v3.25.3
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net Income (Loss) $ 7,088 $ (10,878) $ 23,598 $ 2,904
Other comprehensive income (loss):        
Foreign currency translation adjustment (772) 558 1,135 (633)
Unrealized gain (loss) on interest rate swap contracts [1] 2 (3,623) (2,339) (5,599)
Realized (gain) loss on interest rate swap contracts reclassified to interest expense 84 (403) 256 (545)
Realized (gain) loss on pension liability reclassified to earnings [2] 0 0 1,101 0
Total other comprehensive income (loss) (686) (3,468) 153 (6,777)
Comprehensive income $ 6,402 $ (14,346) $ 23,751 $ (3,873)
[1] Amounts shown net of tax expense (benefit) of $30 and $(732) for the quarter and nine months ended September 30, 2025, respectively and $(1,453) and $(2,159) for the quarter and nine months ended September 30, 2024, respectively.
[2] Amounts reclassified to Selling, general and administrative expenses net of tax expense (benefit) of $(399) for the nine months ended September 30, 2025.
v3.25.3
Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net of tax expense (benefit) $ 30 $ (1,453) $ (732) $ (2,159)
Tax expense (benefit) on pension liability     $ (399)  
v3.25.3
Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Cash $ 47,965 $ 32,222
Trade accounts receivable, less allowances of $4,977 and $5,234, respectively 123,271 109,372
Other accounts receivable, net 6,138 12,654
Inventories, net 99,633 97,001
Prepaid expenses and other current assets 9,787 8,058
Total Current Assets 286,794 259,307
Property, plant, and equipment, net 131,484 137,564
Right of use asset - operating leases 26,429 30,561
Goodwill 255,858 255,532
Intangible assets, net 155,019 166,321
Deferred income taxes 205 205
Other 8,282 11,325
Total Assets 864,071 860,815
Current Liabilities    
Accounts payable 81,569 71,049
Accrued employee compensation 21,389 14,731
Income taxes payable 1,783 4,623
Accrued taxes payable, other than income taxes 2,952 2,781
Accrued interest 296 267
Other current liabilities 26,892 26,794
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 Liabilities 577,448 583,303
Shareholders’ Equity    
Serial Preferred Shares (authorized 1,000,000 shares; none issued and outstanding) 0 0
Common Shares, without par value (authorized 60,000,000 shares; outstanding 37,386,928 and 37,262,566; net of treasury shares of 5,165,529 and 5,289,891, respectively) 23,043 22,923
Additional paid-in capital 325,659 325,163
Accumulated other comprehensive loss (21,957) (22,110)
Retained deficit (40,122) (48,464)
Total Shareholders’ Equity 286,623 277,512
Total Liabilities and Shareholders’ Equity $ 864,071 $ 860,815
v3.25.3
Condensed Consolidated Statements of Financial Position (Parenthetical) (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Allowance for doubtful trade accounts receivable, current $ 4,977 $ 5,234
Shareholders’ Equity    
Preferred Shares, shares authorized (in shares) 1,000,000 1,000,000
Preferred Shares, shares issued (in shares) 0 0
Preferred Shares, shares outstanding (in shares) 0 0
Common Shares, shares authorized (in shares) 60,000,000 60,000,000
Common Shares, shares outstanding (in shares) 37,386,928 37,262,566
Common shares, treasury (in shares) 5,165,529 5,289,891
v3.25.3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Shares [Member]
Additional Paid-In Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Retained Deficit [Member]
Beginning balance at Dec. 31, 2023 $ 292,800 $ 22,608 $ 322,526 $ (16,815) $ (35,519)
Stockholders' Equity [Roll Forward]          
Net Income (Loss) 2,904 0 0 0 2,904
Foreign currency translation adjustment (633) 0 0 (633) 0
Interest rate swap, net of tax (6,144) 0 0 (6,144) 0
Shares issued under incentive plans, net of shares withheld for tax 1,026 295 731 0 0
Stock compensation expense 737 0 737 0 0
Declared dividends (15,051) 0 0 0 (15,051)
Pension liability, net of tax [1] 0        
Ending balance at Sep. 30, 2024 275,639 22,903 323,994 (23,592) (47,666)
Beginning balance at Jun. 30, 2024 294,552 22,879 323,586 (20,124) (31,789)
Stockholders' Equity [Roll Forward]          
Net Income (Loss) (10,878) 0 0 0 (10,878)
Foreign currency translation adjustment 558 0 0 558 0
Interest rate swap, net of tax (4,026) 0 0 (4,026) 0
Shares issued under incentive plans, net of shares withheld for tax 242 24 218 0 0
Stock compensation expense 190 0 190 0 0
Declared dividends (4,999) 0 0 0 (4,999)
Pension liability, net of tax [1] 0        
Ending balance at Sep. 30, 2024 275,639 22,903 323,994 (23,592) (47,666)
Beginning balance at Dec. 31, 2024 277,512 22,923 325,163 (22,110) (48,464)
Stockholders' Equity [Roll Forward]          
Net Income (Loss) 23,598 0 0 0 23,598
Foreign currency translation adjustment 1,135 0 0 1,135 0
Interest rate swap, net of tax (2,083) 0 0 (2,083) 0
Shares issued under incentive plans, net of shares withheld for tax (63) 210 (273) 0 0
Repurchase of common stock (2,021) (90) (1,931) 0 0
Stock compensation expense 2,700 0 2,700 0 0
Declared dividends (15,256) 0 0 0 (15,256)
Pension liability, net of tax 1,101 [1] 0 0 1,101 0
Ending balance at Sep. 30, 2025 286,623 23,043 325,659 (21,957) (40,122)
Beginning balance at Jun. 30, 2025 284,640 23,038 324,971 (21,271) (42,098)
Stockholders' Equity [Roll Forward]          
Net Income (Loss) 7,088 0 0 0 7,088
Foreign currency translation adjustment (772) 0 0 (772) 0
Interest rate swap, net of tax 86 0 0 86 0
Shares issued under incentive plans, net of shares withheld for tax 249 24 225 0 0
Repurchase of common stock (506) (19) (487) 0 0
Stock compensation expense 950 0 950 0 0
Declared dividends (5,112) 0 0 0 (5,112)
Pension liability, net of tax [1] 0        
Ending balance at Sep. 30, 2025 $ 286,623 $ 23,043 $ 325,659 $ (21,957) $ (40,122)
[1] Amounts reclassified to Selling, general and administrative expenses net of tax expense (benefit) of $(399) for the nine months ended September 30, 2025.
v3.25.3
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dividends declared per share     $ 0.405 $ 0.405
Tax expense on pension liability     $ (399)  
O 2025 Q3 Dividends [Member]        
Dividends declared per share $ 0.135      
O 2024 Q3 Dividends [Member]        
Dividends declared per share   $ 0.135    
Accumulated Other Comprehensive Income (Loss) [Member]        
Interest rate swap, tax $ 30 $ (1,453) (732) $ (2,159)
Tax expense on pension liability     $ (399)  
v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows From Operating Activities    
Net income (loss) $ 23,598 $ 2,904
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities    
Depreciation and amortization 29,652 28,760
Amortization of deferred financing costs 1,621 1,318
Amortization of acquisition-related inventory step-up 0 4,457
Non-cash stock-based compensation expense 2,700 737
(Gain) loss on disposal of fixed assets 99 253
Impairment charges 0 22,016 [1]
Other (2,831) 550
Cash flows provided by (used for) working capital    
Accounts receivable - trade and other, net (2,127) 15,646
Inventories (2,296) (1,385)
Prepaid expenses and other current assets (1,723) (1,668)
Accounts payable and accrued expenses 15,507 (21,644)
Net cash provided by (used for) operating activities 64,200 51,944
Cash Flows From Investing Activities    
Capital expenditures (15,935) (17,302)
Acquisition of business, net of cash acquired 0 (348,312)
Proceeds from sale of property, plant and equipment 661 112
Net cash provided by (used for) investing activities (15,274) (365,502)
Cash Flows From Financing Activities    
Net borrowings (repayments) on revolving credit facility 0 (15,000)
Proceeds from Term Loan A 0 400,000
Repayments of Term Loan A (15,000) (10,000)
Repayments of senior unsecured notes 0 (38,000)
Payments on finance lease (464) (442)
Cash dividends paid (15,439) (15,392)
Proceeds from issuance of common stock 866 3,053
Shares withheld for employee taxes on equity awards (929) (2,027)
Repurchase of common stock (2,021) 0
Deferred financing fees 0 (9,172)
Net cash provided by (used for) financing activities (32,987) 313,020
Foreign exchange rate effect on cash (196) (42)
Net increase (decrease) in cash 15,743 (580)
Cash at January 1 32,222 30,290
Cash at September 30 $ 47,965 $ 29,710
[1]

(9) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 7, for the quarter and nine months ended September 30, 2024, which are included in Material Handling's results.
v3.25.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 7,088 $ (10,878) $ 23,598 $ 2,904
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024.

In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of September 30, 2025, and the results of operations and cash flows for the periods presented. The results of operations for the quarter and nine months ended September 30, 2025 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2025.

In the first quarter of 2025, the Company updated its presentation of Depreciation and amortization expenses and third-party Freight out costs previously included in Selling, general and administrative expenses. Prior year amounts have been updated to conform to the current presentation as shown in the Condensed Consolidated Statements of Operations (Unaudited).

Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU is intended to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity's operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For the Company, this ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU should be applied prospectively although retrospective application is also permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU is intended to improve the disclosures about an entity's expenses and requires disaggregation of certain expense captions into specified categories to provide more detailed information about the types of expenses commonly presented. For the Company, this ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments within this ASU should be applied prospectively to financial statements issued for reporting periods after the effective date of this update or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

Fair Value Measurement

The Company follows guidance included in ASC 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, as required. Under ASC 820, the hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly.

Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions.

The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximates carrying value due to the nature and relative short maturity of these assets and liabilities.

The fair value of the Company’s revolving credit facility, as defined in Note 11, approximates carrying value due to the floating rates and the relative short maturity (less than 90 days) of any revolving borrowings under this agreement. The carrying value of the unhedged

portion of the Company’s term loan, as defined in Note 11, approximates fair value given that the underlying interest rate applied to such amounts outstanding is currently based upon floating market rates and the Company has the ability to repay the outstanding principal at par value at any time under the terms of this agreement.

The Company has also entered into an interest rate swap contract to reduce its exposure to fluctuations in variable interest rates for future interest payments, as defined in Note 11. The Company uses significant other observable market data or assumptions (Level 2 inputs) in determining the fair value of its interest rate swap that market participants would use in pricing similar assets or liabilities, including assumptions about counterparty risk. The fair value estimates reflect an income approach based on the terms of the interest rate swap contract and inputs corroborated by observable market data including interest rate curves. Refer to the derivative instruments section below for further information regarding the fair value measurements for the interest rate swap.

The purchase price allocation associated with the February 8, 2024 acquisition of Signature CR Intermediate Holdco, Inc. ("Signature" or "Signature Systems"), as described in Note 3, required fair value measurements using unobservable inputs which are considered Level 3 inputs. The fair value of the acquired intangible assets was determined using an income approach.

The Company performs its goodwill impairment test annually as of October 1 and in the interim only when impairment indicators are present. During the quarter ended September 30, 2024 the Company identified indicators of impairment at its rotational molding reporting unit triggering an interim quantitative assessment of goodwill at the rotational molding reporting unit. A quantitative assessment requires the Company to estimate the fair value of the reporting unit (Level 3 measurement), which the Company does using a combination of a discounted cash flow analysis and market-based approach. Estimating fair value requires the exercise of significant judgment, including judgment about appropriate discount rates, long term growth rates and the amount and timing of expected future cash flows. The cash flows employed in the discounted cash flow analyses are based on the most recent budget and long-term forecast. The discount rates used in the discounted cash flow analyses are intended to reflect the risks inherent in the future cash flows of the respective reporting units. The market-based approach estimates fair value using market multiples of various financial measures compared to a set of comparable public companies and recent comparable transactions. The fair value of the reporting unit is then compared to the carrying value, and any excess carrying value of the reporting unit above the fair value would indicate impairment.

Derivative Instruments

On May 2, 2024, the Company entered into an interest rate swap agreement to limit its exposure to changes in interest rates on a portion of its floating rate indebtedness. The interest rate swap agreement is designated as a cash flow hedge that qualifies for hedge accounting. The swap has a beginning notional value of $200.0 million, which reduces proportionately with scheduled Term Loan A amortization payments, and has a final maturity date of January 31, 2029. The interest rate swap effectively results in a fixed rate of 4.606% plus the applicable margin for the hedged debt, as described in Note 11. The reset dates and all other critical terms on the term loans perfectly match with the interest rate swap and accordingly there were no amounts excluded from the measurement of hedge effectiveness.

At September 30, 2025, the remaining notional value of the Company's interest rate swap totaled $185.0 million and the net fair value of the Company's interest rate swap contract was estimated to be an unrealized loss of $6.1 million, which is included in the Condensed Consolidated Statements of Financial Position (Unaudited) within Other current liabilities and Other liabilities (long-term) at $1.6 million and $4.4 million, respectively. Fair value adjustments are recorded as a component of Accumulated Other Comprehensive Income (Loss) ('AOCI') in the Condensed Consolidated Statements of Financial Position (Unaudited) and balances in AOCI are reclassified into earnings when transactions related to the underlying risk are settled. The pre-tax balance of interest rate swap gain (loss) in AOCI for the quarter and nine months ended September 30, 2025 was $0.1 million and $(2.8) million, respectively and $(5.5) million and $(8.3) million for the quarter and nine months ended September 30, 2024, respectively. As of September 30, 2025, $1.6 million of net interest rate swap losses recorded in AOCI are expected to be reclassified into earnings within the next twelve months; however, the actual amount that will be reclassified will vary based on changes in interest rates.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (1)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2025

 

$

(16,702

)

 

$

(4,569

)

 

$

—

 

 

$

(21,271

)

Other comprehensive income (loss) before reclassifications

 

 

(772

)

 

 

2

 

 

 

—

 

 

 

(770

)

Reclassification to (earnings) loss

 

 

—

 

 

 

84

 

 

 

—

 

 

 

84

 

Net current-period other comprehensive income (loss)

 

 

(772

)

 

 

86

 

 

 

—

 

 

 

(686

)

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(1) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0.0 million for the quarter ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (2)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2024

 

$

(16,742

)

 

$

(2,118

)

 

$

(1,264

)

 

$

(20,124

)

Other comprehensive income (loss) before reclassifications

 

 

558

 

 

 

(3,623

)

 

 

—

 

 

 

(3,065

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(403

)

 

 

—

 

 

 

(403

)

Net current-period other comprehensive income (loss)

 

 

558

 

 

 

(4,026

)

 

 

—

 

 

 

(3,468

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(2) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(1.5) million for the quarter ended September 30, 2024.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (3)

 

 

Defined Benefit
Pension Plans (4)

 

 

Total

 

Balance at January 1, 2025

 

$

(18,609

)

 

$

(2,400

)

 

$

(1,101

)

 

$

(22,110

)

Other comprehensive income (loss) before reclassifications

 

 

1,135

 

 

 

(2,339

)

 

 

—

 

 

 

(1,204

)

Reclassification to (earnings) loss

 

 

—

 

 

 

256

 

 

 

1,101

 

 

 

1,357

 

Net current-period other comprehensive income (loss)

 

 

1,135

 

 

 

(2,083

)

 

 

1,101

 

 

 

153

 

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(3) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.7) million for the nine months ended September 30, 2025.

(4) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.4) million for the nine months ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (5)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at January 1, 2024

 

$

(15,551

)

 

$

—

 

 

$

(1,264

)

 

$

(16,815

)

Other comprehensive income (loss) before reclassifications

 

 

(633

)

 

 

(5,599

)

 

 

—

 

 

 

(6,232

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(545

)

 

 

—

 

 

 

(545

)

Net current-period other comprehensive income (loss)

 

 

(633

)

 

 

(6,144

)

 

 

—

 

 

 

(6,777

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(5) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(2.2) million for the nine months ended September 30, 2024.

Defined Benefit Plans

On April 22, 2025, the Company entered into an agreement with United of Omaha Life Insurance Company (the “Insurer”), under which the Company purchased an irrevocable nonparticipating single premium group annuity contract from the insurer and transferred to the insurer the future benefit obligations and annuity administration for remaining retirees and beneficiaries under the Company’s defined benefit pension plan (the ‘Plan’) with remaining obligations that approximated $4.1 million, at the time of transfer. Under the group annuity contract, the Insurer has made an unconditional and irrevocable commitment to pay the pension benefits of each participant that are due on or after June 1, 2025 and the Company has no remaining obligations under the Plan. The purchase of the group annuity contract was funded primarily by the assets of the plan and as a result of the transaction, the Company recognized a pre-tax pension settlement charge of $1.6 million in the second quarter of 2025, primarily related to the non-cash acceleration of actuarial losses included within Accumulated Other Comprehensive Income (Loss) in the Condensed Consolidated Statements of Financial Position (Unaudited).

Allowance for Credit Losses

Management has established certain requirements that customers must meet before credit is extended. The financial condition of customers is continually monitored and collateral is usually not required. The Company evaluates the collectability of accounts receivable based on a combination of factors. The Company reviews historical trends for credit loss as well as current economic conditions in determining an estimate for its allowance for credit losses. Additionally, in circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific allowance for credit losses is recorded against amounts due to reduce the net recognized receivable to the amount the Company reasonably expects will be collected.

The changes in the allowance for credit losses included within Trade accounts receivable for the nine months ended September 30, 2025 and 2024 were as follows:

 

 

 

2025

 

 

2024

 

Balance at January 1

 

$

4,183

 

 

$

2,989

 

Provision for expected credit loss, net of recoveries

 

 

442

 

 

 

1,839

 

Write-offs and other

 

 

(657

)

 

 

(586

)

Balance at September 30

 

$

3,968

 

 

$

4,242

 

Allowance for credit losses pertaining to the purchased credit deteriorated assets acquired in conjunction with the acquisition of Signature, as described in Note 3, are not included in the table above. These amounts totaled $3.2 million as of December 31, 2024 and are included net within Other accounts receivable and Other assets – long-term. As more fully described in Note 3, the purchased credit deteriorated assets were fully repaid during the nine months ended September 30, 2025 and the $3.2 million allowance for credit loss was reversed and recognized as a reduction to bad debt expense included in Selling, general and administrative on the Condensed Consolidated Statements of Operations (Unaudited).
v3.25.3
Revenue Recognition
 9 Months Ended
Sep. 30, 2025
Revenue Recognition [Abstract]  
Revenue Recognition

2. Revenue Recognition

Revenue is recognized when obligations under the terms of a contract with customers are satisfied. In both the Distribution and Material Handling segments, this generally occurs with the transfer of control of the products. This transfer of control may occur at either the time of shipment from a Company facility, or at the time of delivery to a designated customer location. Obligations under contracts with customers are typically fulfilled within 90 days of receiving a purchase order from a customer, and generally no other future obligations are required to be performed. The Company generally does not enter into any long-term contracts with customers greater than one year. Based on the nature of the Company’s products and customer contracts, no deferred revenue has been recorded, with the exception of cash advances or deposits received from customers prior to transfer of control of the product. These advances are typically fulfilled within the 90-day time frame mentioned above.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the products. Certain contracts with customers include variable consideration, such as rebates or discounts. The Company recognizes estimates of this variable consideration each period, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs. While the Company’s contracts with customers do not generally include explicit rights to return product, the Company will in practice allow returns in the normal course of business and as part of the customer relationship. Expected returns allowances are recognized each period based on an analysis of historical experience, and when physical recovery of the product from returns occurs, an estimated right to return asset is also recorded based on the approximate cost of the product.

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to revenue recognition include:

 

 

 

September 30,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2025

 

 

2024

 

 

Classification

Returns, discounts and other allowances

 

$

(1,009

)

 

$

(1,051

)

 

Trade accounts receivable

Right of return asset

 

$

476

 

 

$

456

 

 

Inventories, net

Customer deposits

 

$

(1,457

)

 

$

(2,565

)

 

Other current liabilities

Accrued rebates

 

$

(4,949

)

 

$

(4,196

)

 

Other current liabilities

 

Sales, value added, and other taxes collected with revenue from customers are excluded from net sales. The cost for shipments to customers is recognized when control over products has transferred to the customer and is classified as Freight out expenses for the Company’s manufacturing business and as Cost of sales for the Company’s distribution business. Costs for shipments to customers in Freight out expenses were approximately $2.5 million and $4.3 million for the quarters ended September 30, 2025 and 2024, respectively, and $8.1 million and $9.4 million for the nine months ended September 30, 2025 and 2024, respectively and in Cost of sales were approximately $2.6 million and $2.8 million for the quarters ended September 30, 2025 and 2024, respectively and $7.8 million and $8.4 million for the nine months ended September 30, 2025 and 2024, respectively.

Based on the short-term nature of contracts described above, contract acquisition costs are not significant. These costs, as well as other incidental items that are immaterial in the context of the contract, are recognized as expense as incurred. See Note 14, Segments for additional details on the Company's revenue by major market.
v3.25.3
Acquisitions
 9 Months Ended
Sep. 30, 2025
Business Combination [Abstract]  
Acquisitions

3. Acquisitions

Signature

On February 8, 2024, the Company acquired the stock of Signature Systems, a manufacturer and distributor of composite matting ground protection for industrial applications, stadium turf protection and temporary event flooring, which is included in the Material Handling Segment. The Signature acquisition aligns with the Company's long-term strategic plan to transform the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. Cash consideration was $348.3 million, net of $4.3 million of cash acquired. Total cash consideration also includes the working capital settlement, which was finalized in June 2024. The Company funded the acquisition of Signature through an amendment and restatement of Myers’ existing loan agreement, as described in Note 11.

The purchase accounting has been finalized and the final allocation of consideration for the Signature acquisition is as follows:

 

Initial Allocation of Consideration

 

Measurement Period Adjustments(1)

 

Final Allocation

 

Assets acquired:

 

 

 

 

 

 

Accounts receivable

$

18,902

 

$

(48

)

$

18,854

 

Inventories

 

17,612

 

 

(239

)

 

17,373

 

Prepaid expenses

 

719

 

 

(25

)

 

694

 

Other assets - long-term

 

4,761

 

 

437

 

 

5,198

 

Property, plant and equipment

 

28,281

 

 

(18

)

 

28,263

 

Right of use asset - operating leases

 

3,946

 

 

—

 

 

3,946

 

Intangible assets

 

127,000

 

 

9,700

 

 

136,700

 

Goodwill

 

215,105

 

 

(32,007

)

 

183,098

 

Assets acquired

$

416,326

 

$

(22,200

)

$

394,126

 

 

 

 

 

 

 

 

Liabilities assumed:

 

 

 

 

 

 

Accounts payable

$

4,542

 

$

362

 

$

4,904

 

Accrued expenses

 

5,646

 

 

266

 

 

5,912

 

Operating lease liability - short-term

 

525

 

 

—

 

 

525

 

Operating lease liability - long-term

 

2,400

 

 

—

 

 

2,400

 

Deferred income taxes

 

55,054

 

 

(22,981

)

 

32,073

 

Total liabilities assumed

 

68,167

 

 

(22,353

)

 

45,814

 

 

 

 

 

 

 

 

Net acquisition cost

$

348,159

 

$

153

 

$

348,312

 

(1) The Company's preliminary purchase price allocation changed due to additional information and further analysis.

 

Included in Accounts receivable and Other assets (long-term) of the table above are long term notes receivable with face value of $11.4 million and estimated fair value of $7.0 million based on a risk-adjusted income approach, of which $1.9 million was classified as current as of the date of acquisition. The long term notes receivable acquired were considered purchased credit deteriorated assets. At the acquisition date, the Company established a $3.2 million allowance for credit loss, which has been added to the fair value of the loan to determine its amortized cost basis. The $1.2 million difference between the amortized cost basis and unpaid principal

represents a noncredit discount that will be amortized into interest income over the remaining lives of the long term notes receivable through their maturities in August 2026.

In May 2025, subsequent to the acquisition date and final allocation of consideration for the Signature acquisition, the customer prepaid the remaining balance of the outstanding long term notes receivable for $8.3 million. The $3.2 million allowance for credit loss was reversed and recognized as a reduction to bad debt expense included in Selling, general and administrative and the remaining noncredit discount of $0.3 million was accelerated into interest income included in Interest expense on the Condensed Consolidated Statements of Operations (Unaudited).

Intangible assets consist of Signature’s technology, customer relationships and the Signature Systems indefinite-lived trade name, and are summarized in the table below:

 

 

Fair Value

 

 

Weighted Average
Estimated
Useful Life

Customer relationships

 

$

83,800

 

 

10.0 years

Technology

 

 

31,300

 

 

12.0 years

Total amortizable intangible assets

 

$

115,100

 

 

 

Intangible assets not subject to amortization:

 

 

 

 

 

Trademarks and trade names

 

$

21,600

 

 

Indefinite

 

The following unaudited pro forma results of operations for the three months ended March 31, 2024 assumes the Signature acquisition was completed on January 1, 2023. The following pro forma results include adjustments to reflect acquisition related costs, additional interest expense, amortization of intangibles associated with the acquisition, amortization of acquisition-related inventory step-up costs and the effects of adjustments made to the carrying value of certain assets.

 

 

 

For the Quarter Ended March 31,

 

 

 

2024

 

Net sales

 

$

221,821

 

Net income

 

 

8,345

 

 

The unaudited pro forma results may not be indicative of the results that would have been obtained had the acquisition occurred at the beginning of the period presented, nor is it intended to be a projection of future results.

v3.25.3
Restructuring
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring

4. Restructuring

On March 6, 2025, the Company announced it would be launching a 'Focused Transformation' initiative with a target to implement $20 million of annualized cost savings, primarily in SG&A, by year-end 2025. In conjunction with the program the Company incurred $0.8 million and $3.2 million of restructuring charges during the quarter and nine months ended September 30, 2025, respectively. Accrued and unpaid restructuring expenses were $0.5 million at September 30, 2025 and remaining costs to complete the program will continue to be evaluated by the Company as it conducts a comprehensive review of its portfolio and key strategic initiatives.

On July 31, 2025, the Company announced as part of its Focused Transformation initiatives, a plan to idle two of its rotational molding production facilities and to consolidate that production into other facilities. In conjunction with this initiative the Company incurred $1.3 million of restructuring charges during the quarter and nine months ended September 30, 2025. Accrued and unpaid restructuring expenses were $0.5 million at September 30, 2025 and the Company expects to incur up to $12 million in restructuring costs to complete the initiative, including costs related to employee severance, machine moves, asset impairments and costs related to the long-term facility leases.

In conjunction with the Company's previously announced restructuring plan to improve the Company’s organizational structure and operational efficiency within the Distribution Segment, the Company incurred $2.5 million of restructuring charges during the nine months ended September 30, 2025, and $0.2 million and $1.0 million during the quarter and nine months ended September 30, 2024, respectively. The Company also entered into termination agreements to exit two of its idled lease facilities, in conjunction with the restructuring plan, for which the original leases extended through 2028, and total termination charges of $1.6 million, included in the totals above, for the nine months ended September 30, 2025, were recorded to satisfy all remaining obligations under the original lease agreements. Accrued and unpaid restructuring expenses totaled $0.3 million at September 30, 2025 and the Company does not expect to incur any further costs related to this initiative which is now complete.

On July 23, 2025, the Company's Board of Directors approved launching a strategic review of Myers Tire Supply, which is included in the Distribution segment. 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, however there can be no assurance that a sale will be completed on terms acceptable to the Company, or at all. Revenue from this business was $186 million over the last twelve months, ending September 30, 2025.

In conjunction with the Company's previously announced Ameri-Kart plan the Company incurred $2.3 million of restructuring charges during the nine months ended September 30, 2024. On May 7, 2024, the Company entered into a termination agreement to exit the idled lease facility, in conjunction with the Ameri-Kart plan, for which the original lease extended through 2026, and a termination payment of $1.8 million was recorded to satisfy all remaining obligations under the original lease. The Ameri-Kart plan is now complete and there were no remaining accrued and unpaid restructuring expenses at September 30, 2025 or December 31, 2024.

In August 2024, the Company announced the consolidation of its Atlantic, Iowa rotational molding facility into other rotational molding facilities to reduce the cost structure within the Material Handling segment. In December 2024, the Company reduced the scope of the consolidation to keep open its Atlantic, Iowa rotational molding facility as a result of increased demand for certain products produced in that facility. Total restructuring costs incurred related to the facility consolidation were approximately $1.2 million during the quarter and nine months ended September 30, 2024. Accrued and unpaid restructuring expenses were not significant at December 31, 2024.

Charges from other restructuring initiatives to reduce and streamline overhead costs during the quarter and nine months ended September 30, 2025 totaled $1.1 million and $2.6 million, respectively, and $0.6 million and $0.8 million during the quarter and nine months ended September 30, 2024, respectively. Accrued and unpaid restructuring expenses were $0.3 million and $0.9 million at September 30, 2025 and December 31, 2024, respectively.

The restructuring charges noted above for the quarter and nine months ended September 30, 2025 and 2024, respectively, are presented in the Condensed Consolidated Statements of Operations (Unaudited) as follows:

 

 

 

For the Quarter Ended September 30,

 

 

 

 

2025

 

 

2024

 

Segment

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

Material Handling

 

 

$

1,102

 

 

$

370

 

 

$

1,472

 

 

$

1,160

 

 

$

236

 

 

$

1,396

 

Distribution

 

 

 

—

 

 

 

71

 

 

 

71

 

 

 

51

 

 

 

169

 

 

 

220

 

Corporate

 

 

 

—

 

 

 

1,675

 

 

 

1,675

 

 

 

—

 

 

 

417

 

 

 

417

 

Total

 

 

$

1,102

 

 

$

2,116

 

 

$

3,218

 

 

$

1,211

 

 

$

822

 

 

$

2,033

 

 

 

 

 

For the Nine Months Ended September 30,

 

 

 

 

2025

 

 

2024

 

Segment

 

 

Cost of
Sales

 

 

SG&A and Other (1)

 

 

Total

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

Material Handling

 

 

$

1,598

 

 

$

1,033

 

 

$

2,631

 

 

$

3,624

 

 

$

236

 

 

$

3,860

 

Distribution

 

 

 

—

 

 

 

3,051

 

 

 

3,051

 

 

 

539

 

 

 

436

 

 

 

975

 

Corporate

 

 

 

—

 

 

 

3,981

 

 

 

3,981

 

 

 

—

 

 

 

417

 

 

 

417

 

Total

 

 

$

1,598

 

 

$

8,065

 

 

$

9,663

 

 

$

4,163

 

 

$

1,089

 

 

$

5,252

 

(1) Amounts included in SG&A and Other, for the nine months ended September 30, 2025 include a $0.5 million charge related to the facility consolidations, discussed above, that is classified within (Gain) loss on disposal of fixed assets on the Condensed Consolidated Statements of Operations (Unaudited).

Restructuring liabilities are included in other current liabilities on the Condensed Consolidated Balance Sheets (Unaudited). The change in other current liabilities for the nine months ended September 30, 2025 was as follows:

 

 

Employee
Reduction

 

 

Facility Consolidations

 

 

Other Exit Costs (1)

 

 

Total

 

Balance at December 31, 2024

 

$

—

 

 

$

—

 

 

$

962

 

 

$

962

 

Charges to expense

 

 

1,759

 

 

 

3,449

 

 

 

4,455

 

 

 

9,663

 

Cash payments

 

 

(1,418

)

 

 

(2,189

)

 

 

(4,587

)

 

 

(8,194

)

Non-cash activity

 

 

171

 

 

 

(927

)

 

 

—

 

 

 

(756

)

Balance at September 30, 2025

 

$

512

 

 

$

333

 

 

$

830

 

 

$

1,675

 

 

(1) Other exit costs consist primarily of executive transition and other related costs.
v3.25.3
Inventories
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Inventories

5. Inventories

Inventories are valued at the lower of cost or market for last-in, first-out (“LIFO”) inventory and lower of cost or net realizable value for first-in, first-out (“FIFO”) inventory. Approximately 30 percent of inventories are valued using the LIFO method of determining cost. All other inventories are valued using the FIFO method of determining cost. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations must be based on management’s estimates of expected year-end inventory levels and costs. Because these calculations are subject to many factors beyond management’s control, annual results may differ from interim results as they are subject to the final year-end LIFO inventory valuation. No adjustment to the LIFO reserve was recorded for the quarters ended September 30, 2025 or 2024.

 

Inventories consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Finished and in-process products

 

$

61,085

 

 

$

62,601

 

Raw materials and supplies

 

 

38,548

 

 

 

34,400

 

 

 

$

99,633

 

 

$

97,001

 
v3.25.3
Other Liabilities
 9 Months Ended
Sep. 30, 2025
Other Liabilities Disclosure [Abstract]  
Other Liabilities

6. Other Liabilities

The balance in Other current liabilities is comprised of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Customer deposits and accrued rebates

 

$

6,406

 

 

$

6,761

 

Dividends payable

 

 

5,430

 

 

 

5,613

 

Accrued litigation, claims and professional fees

 

 

337

 

 

 

110

 

Current portion of environmental reserves

 

 

7,705

 

 

 

6,605

 

Hedge contract liability

 

 

1,648

 

 

 

753

 

Other accrued expenses

 

 

5,366

 

 

 

6,952

 

 

 

$

26,892

 

 

$

26,794

 

 

 

The balance in Other liabilities (long-term) is comprised of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Environmental reserves

 

$

8,098

 

 

$

9,984

 

Supplemental executive retirement plan liability

 

 

117

 

 

 

270

 

Pension liability

 

 

—

 

 

 

79

 

Hedge contract liability

 

 

4,409

 

 

 

2,490

 

Other long-term liabilities

 

 

2,424

 

 

 

2,480

 

 

 

$

15,048

 

 

$

15,303

 
v3.25.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

The change in goodwill for the nine months ended September 30, 2025 was as follows:

 

 

 

Distribution

 

 

Material
Handling

 

 

Total

 

January 1, 2025

 

$

14,730

 

 

$

240,802

 

 

$

255,532

 

Foreign currency translation

 

 

—

 

 

 

326

 

 

 

326

 

September 30, 2025

 

$

14,730

 

 

$

241,128

 

 

$

255,858

 

Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents, non-competition agreements and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated useful lives. Indefinite-lived trade names had a carrying value of $31.4 million at both September 30, 2025 and December 31, 2024. Refer to Note 3 for the intangible assets acquired through the Signature acquisition in February 2024.

During the quarter ended September 30, 2024, the Company’s rotational molding reporting unit continued to experience further declining market conditions including overall lower volume and uncertainty regarding the reporting unit's longer range outlook, primarily due to the current macroeconomic environment reducing expected demand for its products. Due to these potential indicators of impairment identified during the quarter ended September 30, 2024, the Company conducted an interim quantitative impairment test of the goodwill at its rotational molding reporting unit and compared the reporting unit's fair value to its carrying value as required by ASC 350. The Company's quantitative analysis identified that the estimated fair value of the rotational molding reporting unit was below the carrying value and accordingly, the Company recorded a $22.0 million non-cash impairment charge, for the full carrying value of the goodwill associated with the rotational molding reporting unit. The goodwill impairment charge was recorded within Impairment charges in the Condensed Consolidated Statements of Operations (Unaudited).
v3.25.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Stockholders' Equity

8. Stockholders' Equity

Net Income Per Common Share

Net income per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Weighted average common shares outstanding basic

 

 

37,393,620

 

 

 

37,220,456

 

 

 

37,361,228

 

 

 

37,102,761

 

Dilutive effect of stock options and restricted stock

 

 

188,442

 

 

 

—

 

 

 

142,936

 

 

 

147,751

 

Weighted average common shares outstanding diluted

 

 

37,582,062

 

 

 

37,220,456

 

 

 

37,504,164

 

 

 

37,250,512

 

The dilutive effect of stock options and restricted stock was computed using the treasury stock method. Because the Company incurred a net loss for the quarter ended September 30, 2024, basic and diluted shares are the same. If the Company was in a net income position during the quarter ended September 30, 2024, diluted shares would include an additional 2,280 shares of common stock.

Options to purchase 6,973 and 10,347 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2025, respectively were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive. Options to purchase 13,664 and 10,290 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2024, respectively were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive.

Share Repurchases

On February 27, 2025, the Company's Board of Directors authorized the repurchase of up to $10.0 million in shares of its Common Stock effective March 10, 2025 (the “2025 Repurchase Program”). The 2025 Repurchase Program replaces the Company’s previously authorized 2013 repurchase program, which is hereby terminated, and will end on the first to occur of reaching the maximum amount of $10.0 million in repurchases or December 31, 2025. Repurchases under the 2025 repurchase program may be made in the open market at prevailing market prices, through accelerated share repurchases, through privately negotiated transactions, in block trades, and/or

through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations and the Company’s insider trading policy.

Under the 2025 Repurchase Program the Company repurchased a total of 30,579 and 147,463 shares for $0.5 million and $2.0 million at an average cost of $16.37 and $13.57 per share, exclusive of commissions and excise tax during the quarter and nine months ended September 30, 2025, respectively. As of September 30, 2025, there was approximately $8.0 million in remaining funds authorized under the 2025 Repurchase Program.
v3.25.3
Stock Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Compensation

9. Stock Compensation

The Company’s 2021 Long-Term Incentive Plan (the “2021 Plan”) was adopted by the Board of Directors on March 4, 2021, amended by the Board of Directors on April 20, 2021, and approved by shareholders in the annual shareholder meeting on April 29, 2021. The 2021 Plan authorizes the Compensation and Management Development Committee of the Board of Directors (“Compensation Committee”) to issue up to 2,000,000 additional various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors. No new awards may be issued under the 2021 Plan after March 16, 2024.

The Company’s 2024 Long-Term Incentive Plan (the “2024 Plan”) was adopted by the Board of Directors on February 29, 2024, and approved by shareholders in the annual shareholder meeting on April 25, 2024. The 2024 Plan authorizes the Compensation Committee to issue up to 2,500,000 additional various stock awards including stock options, performance stock units, restricted stock units and other forms of equity-based awards to key employees and directors.

Stock compensation expense was approximately $1.0 million and $0.2 million for the quarters ended September 30, 2025 and 2024, respectively, and $2.7 million and $0.7 million for the nine months ended September 30, 2025 and 2024, respectively. These expenses are included in Selling, general and administrative expenses. Changes in expected performance under performance share award arrangements can cause volatility in stock compensation expense. Total unrecognized compensation cost related to non-vested stock-based compensation arrangements at September 30, 2025 was approximately $5.7 million, which will be recognized over the next three years, as such compensation is earned. Outstanding options expire, if unexercised, ten years from the date of grant.
v3.25.3
Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contingencies

10. Contingencies

The Company is a defendant in various lawsuits and a party to various other legal proceedings arising in the ordinary course of business, some of which are covered in whole or in part by insurance. When a loss arising from these matters is probable and can reasonably be estimated, the most likely amount of the estimated probable loss is recorded, or if a range of probable loss can be estimated and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary.

Based on current available information, management believes that the ultimate outcome of these matters, including those described below, will not have a material adverse effect on our financial position, cash flows or overall trends in our results of operations. However, these matters are subject to inherent uncertainties, and unfavorable rulings could occur. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which the ruling occurs, or in future periods.

New Idria Mercury Mine

In September 2015, the U.S. Environmental Protection Agency (“EPA”) informed a subsidiary of the Company, Buckhorn, Inc. (“Buckhorn”) via a notice letter and related documents (the “Notice Letter”) that it considers Buckhorn to be a potentially responsible party (“PRP”) in connection with the New Idria Mercury Mine site (“New Idria Mine”). New Idria Mining & Chemical Company (“NIMCC”), which owned and/or operated the New Idria Mine through 1976, was merged into Buckhorn Metal Products Inc. in 1981, which was subsequently acquired by Myers Industries, Inc. in 1987. As a result of the EPA Notice Letter, Buckhorn and the Company entered into an Administrative Order of Consent (“AOC”) with the EPA for the Remedial Investigation/Feasibility Study (“RI/FS”) to determine the extent of remediation necessary and the screening of alternatives. The AOC and related Statement of Work (“SOW”) were effective as of November 27, 2018, the date that it was executed by the EPA. The AOC requires a $2 million letter of credit to be provided for the duration of the RI/FS as assurance of Buckhorn's performance obligations.

All reasonably estimable costs related to the environmental remediation are accrued. These costs are comprised primarily of estimates to perform the RI/FS, identification of possible other PRPs, EPA oversight fees, past cost claims made by the EPA, periodic monitoring, and responses to demands issued by the EPA under the AOC. It is possible that adjustments to the aforementioned reserves will be

necessary as new information is obtained, including after finalization and EPA approval of the work plan for the RI/FS. Estimates of Buckhorn’s liability are based on current facts, laws, regulations and technology. Estimates of Buckhorn’s environmental liabilities are further subject to uncertainties regarding the nature and extent of site contamination, the range of remediation alternatives available, evolving remediation standards, imprecise engineering evaluation and cost estimates, the extent of remedial actions that may be required, the extent of oversight by the EPA and the number and financial condition of other PRPs that may be named, as well as the extent of their responsibility for the remediation. Beginning in late 2021 and continuing through the current period, Buckhorn and the EPA continue to actively discuss the scope of the activities in the work plan for the RI/FS, resulting in changes to the estimated costs to perform the RI/FS work plan from time to time. Cost estimates will continue to be refined as the work plans for the RI/FS and the ultimate remediation are finalized and as the activities are performed over a period expected to last several years.

In the fourth quarter of 2022, Buckhorn reached an agreement with respect to certain insurance coverage related to defense costs, which is expected to apply to a substantial portion of the estimated RI/FS costs. Recovery of accrued costs are recorded as a receivable to the extent such recovery is determined to be probable under this agreement. Estimates of cost recoveries will continue to be refined as the RI/FS work plan is finalized and the activities are performed over a period expected to last several years. Buckhorn may also have opportunity for cost recovery under other insurance policies.

Since October 2011, when the New Idria Mine was added to the Superfund National Priorities List by the EPA, Buckhorn has recognized $26.0 million of cumulative charges, made cumulative payments of $16.5 million and received insurance recoveries of $8.0 million through September 30, 2025. For the quarter and nine months ended September 30, 2025 the following undiscounted activity was recorded in connection with the New Idria Mercury Mine:

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Beginning reserve balance

 

$

11,241

 

 

$

12,492

 

 

$

12,425

 

 

$

13,182

 

Changes in estimated environmental liability

 

 

900

 

 

 

200

 

 

 

900

 

 

 

1,000

 

Payments made

 

 

(718

)

 

 

(908

)

 

 

(1,902

)

 

 

(2,398

)

Ending reserve balance (1)

 

$

11,423

 

 

$

11,784

 

 

$

11,423

 

 

$

11,784

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning receivable balance

 

$

7,050

 

 

$

7,114

 

 

$

8,404

 

 

$

7,245

 

Changes in estimated insurance recovery

 

 

900

 

 

 

700

 

 

 

900

 

 

 

1,700

 

Insurance recovery reimbursements

 

 

(483

)

 

 

(621

)

 

 

(1,837

)

 

 

(1,752

)

Ending receivable balance (2)

 

$

7,467

 

 

$

7,193

 

 

$

7,467

 

 

$

7,193

 

(1) As of September 30, 2025, Buckhorn has a total ending reserve balance of $11.4 million related to the New Idria Mine, of which $7.4 million is classified in Other current liabilities and $4.0 million in Other liabilities (long-term).

(2) As of September 30, 2025, Buckhorn has a total receivable balance related to the probable insurance recovery of $7.5 million, of which $4.2 million is classified in Other accounts receivable and $3.3 million is classified in Other assets (long-term).

Given the circumstances referred to above, including the fact that the final remediation strategy has not yet been determined, Buckhorn has not accrued for remediation costs in connection with this site as it is unable to estimate the range of a reasonably possible liability for remediation costs.

New Almaden Mine

A number of parties, including the Company and its subsidiary, Buckhorn (as successor to NIMCC), were alleged by trustee agencies of the United States and the State of California to be responsible for natural resource damages due to environmental contamination of areas comprising the historical New Almaden mercury mines located in the Guadalupe River Watershed region in Santa Clara County, California (“County”). In 2005, Buckhorn and the Company, without admitting liability or chain of ownership of NIMCC, resolved the trustees’ claim against them through a consent decree that required them to contribute financially to the implementation by the County of an environmentally beneficial project within the impacted area. Buckhorn and the Company negotiated an agreement with the County ("Cost Sharing Agreement"), whereby Buckhorn and the Company agreed to reimburse one-half of the County’s costs of implementing the project. A detailed estimate was received from the County in 2016, and estimated costs for implementing the project to range between $3.3 million and $4.4 million. In 2022, the County informed the Company that it may begin implementation of the project in 2023 and that costs were expected to be higher. In January 2023, the County informed Buckhorn that the project will commence in 2023 and that it had accepted a bid to complete the project for approximately $9.0 million. The Company and Buckhorn intend to vigorously challenge, under the terms of the Cost Sharing Agreement, their responsibility to share in the entirety of the project cost increases. No costs were incurred related to New Almaden in the quarter and nine months ended September 30, 2025 or 2024. As of September 30, 2025, Buckhorn has a total reserve of $4.4 million related to the New Almaden Mine, of which $0.3 million is classified in Other current liabilities and $4.1 million is classified in Other liabilities (long-term).

It is possible that adjustments to the aforementioned reserves will be necessary to reflect new information. In addition, the Company may have claims against and defenses to claims by the County under the 2005 agreement that could reduce or offset its obligation for reimbursement of some of these potential additional costs. With the assistance of environmental consultants, the Company will closely monitor this matter and will continue to assess its reserves as additional information becomes available.

Other Matters

On February 14, 2023, a lawsuit was filed by Nan Morgan McCartney in the Circuit Court of Escambia County, Florida (later removed to the Northern District of Florida, Pensacola Division) against the Company, Scepter US Holding Company, Scepter Manufacturing, LLC, Scepter Canada Inc., Walmart Inc., and Wal-Mart Stores East, LP. The complaint seeks compensatory damages and court costs for harm caused to Ms. McCartney allegedly arising from use of a 5-gallon portable fuel container manufactured by a Scepter company and alleges amounts in controversy in excess of $30 thousand exclusive of costs. On April 2, 2025, the Myers defendants learned that Walmart had settled its case with Plaintiff. Dispositive motions filed by both parties on May 2, 2025 have been ruled on by the Court with the effect of streamlining certain aspects of the case including dismissal of all defendants except Scepter Manufacturing, eliminating all product liability theories other than design defect, and allowing defendant to plead set-off as an affirmative defense. The Company cannot assess with any meaningful probability the outcome or the potential damages. Scepter has maintained insurance policies, which it believes will cover a substantial portion of the defense costs incurred in this matter.

On March 18, 2025, a lawsuit was filed by Ryan Colvin, individually and on behalf of his minor son, C.C., and Chelsea Conkel, individually, in the United States District Court for the District of Arizona, against Scepter Manufacturing, LLC. The Complaint seeks damages and court costs for harm caused to Plaintiff’s minor son and both parents allegedly arising from the use of a 5-gallon portable fuel container manufactured by Scepter Manufacturing, LLC, and alleges amounts in controversy in excess of $75 thousand. The Company was served the Complaint on June 6, 2025, and filed its Answer on June 16, 2025. The Company cannot assess with any meaningful probability the outcome or the potential damages. Scepter has maintained insurance policies, which it believes will cover a substantial portion of the defense costs incurred in this matter.
v3.25.3
Long-Term Debt and Loan Agreements
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt and Loan Agreements

11. Long-Term Debt and Loan Agreements

Long-term debt consisted of the following:

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Amended Loan Agreement - Revolving Credit Facility

 

$

—

 

 

$

—

 

Amended Loan Agreement - Term Loan A

 

 

367,000

 

 

 

382,000

 

 

 

 

367,000

 

 

 

382,000

 

Less unamortized deferred financing costs

 

 

5,774

 

 

 

7,041

 

 

 

 

361,226

 

 

 

374,959

 

Less current portion long-term debt

 

 

29,528

 

 

 

19,649

 

Long-term debt

 

$

331,698

 

 

$

355,310

 

 

 

On February 8, 2024, the Company entered into Amendment No. 1 to the Seventh Amended and Restated Loan Agreement (“Amendment No. 1”), which amended the Seventh Amended and Restated Loan Agreement (the "Loan Agreement”) dated September 29, 2022 (collectively, the “Amended Loan Agreement”). Amendment No. 1, among other things, permitted the acquisition of Signature Systems and provided a new 5-year $400 million term loan facility (“Term Loan A”). Term Loan A will amortize in eight quarterly installment payments of $5 million beginning June 30, 2024, quarterly installment payments of $10 million thereafter, and any remaining balance due upon maturity. Term Loan A may be voluntarily prepaid at any time, in whole or in part, without penalty or premium, however, all amounts repaid or prepaid in respect of Term Loan A may not be reborrowed.

Amendment No. 1 did not change the existing revolving credit facility’s maturity date or $250 million borrowing limit, which includes a letter of credit subfacility and swingline subfacility. In connection with Amendment No. 1, the Company incurred deferred financing fees of $9.2 million, of which $8.5 million was related to Term Loan A and included in Long-term debt and Long-term debt - current portion and $0.7 million was related to the Revolving Credit Facility and included in Other assets (long-term). These deferred financing fees are being amortized to Interest expense over their respective terms to maturity. Remaining deferred financing fees on the Revolving Credit Facility were $0.9 million and $1.3 million as of September 30, 2025 and December 31, 2024, respectively and remaining unamortized deferred financing costs under the Term Loan A totaled $5.8 million and $7.0 million as of September 30, 2025 and December 31, 2024, respectively.

As of September 30, 2025, the Company had $244.7 million available under the Amended Loan Agreement, which is available for the ongoing working capital requirements of the Company and its subsidiaries and for general corporate purposes. The Company had $5.3 million of letters of credit issued related to insurance and other contracts requiring financial assurance in the ordinary course of business. Borrowings under the Amended Loan Agreement bear interest at the Term SOFR, RFR, SONIA, EURIBOR and CORRA-based borrowing rates. Amounts borrowed under the credit facility are secured by pledges to all of the Company's assets (except with respect to certain assets that are customarily excluded for the incurrence of such liens).

On January 12, 2024, the Company repaid $26.0 million of senior unsecured notes upon maturity using cash on hand and availability under the Loan agreement. On February 6, 2024, in connection with the first amendment and restatement to the Loan Agreement discussed above, the Company prepaid the remaining $12.0 million face value of senior unsecured notes, which were due January 15, 2026, using availability under the revolving credit facility under the Loan Agreement. After giving effect to the payment in full all outstanding senior unsecured notes under the Note Purchase Agreement have been paid and the Note Purchase Agreement has been terminated. In conjunction with the termination the Company recognized a loss on debt extinguishment of $0.1 million, primarily representing the make-whole fees on the senior unsecured notes and the unamortized value of the original issuance discount which were included in Interest expense.

The weighted average interest rate on borrowings under the Company’s long-term debt was 8.04% and 8.40% for the quarters ended September 30, 2025 and 2024, respectively, and 7.85% and 8.60% for the nine months ended September 30, 2025 and 2024, respectively, which includes a quarterly facility fee on the used and unused portion, as well as amortization of deferred financing costs.

As of September 30, 2025, the Company was in compliance with all of its debt covenants associated with its Amended Loan Agreement. The most restrictive financial covenants for all of the Company’s debt are a net leverage ratio (defined as net debt divided by earnings before interest, taxes, depreciation and amortization, as adjusted) and an interest coverage ratio (defined as earnings before interest, taxes, depreciation and amortization, as adjusted, divided by interest expense).

On May 2, 2024, the Company entered into an interest rate swap agreement to mitigate the variable interest rate risk of borrowings under the Amended Loan Agreement. The swap has a beginning notional value of $200.0 million, which reduces proportionately with scheduled Term Loan A amortization payments, and has a final maturity date of January 31, 2029. At September 30, 2025, the remaining notional value of the Company's interest rate swap totaled $185.0 million. The swap is designated as a cash flow hedge and effectively results in a fixed rate of 4.606% plus the applicable margin for the hedged debt, as described above and in Note 1.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

12. Income Taxes

The Company’s effective tax rate was 30.5% and 26.4% for the quarter and nine months ended September 30, 2025, respectively compared to 15.4% and 56.4% for the quarter and nine months ended September 30, 2024. The effective income tax rate for the current year was different than the Company's statutory rate primarily due to state taxes and the benefit related to the termination of the Company's pension plan. The effective income tax rate for the prior year was different than the Company’s statutory rate, primarily due to non-deductible goodwill impairment charges, state taxes and non-deductible transaction costs related to the Signature acquisition.

The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of September 30, 2025, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2021. The Company is subject to state and local examinations for tax years of 2020 through 2023. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2021 through 2024.
v3.25.3
Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases

13. Leases

The Company determines if an arrangement is a lease at inception. The Company has leases for manufacturing facilities, distribution centers, warehouses, office space and equipment, with remaining lease terms of one to ten years. Certain of these leases include options to extend the lease for up to five years, and some include options to terminate the lease early. Leases with an initial term of 12 months or less are not recorded on the statement of financial position; the Company recognizes lease expense for these short-term leases on a straight-line basis over the lease term. Operating leases with an initial term greater than 12 months are included in Right of use asset – operating leases (“ROU assets”), Operating lease liability – short term, and Operating lease liability – long term and finance leases are included in Property, plant and equipment, Finance lease liability – short term, and Finance lease liability – long term in the Condensed Consolidated Statements of Financial Position (Unaudited).

The ROU assets represent the right to use an underlying asset for the lease term and the lease liabilities represent the obligation to make lease payments. ROU assets and lease liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. When leases do not provide an implicit rate, the Company’s incremental borrowing rate is used, which is then applied at the portfolio level, based on the information available at commencement date in determining the present value of lease payments. The Company has also elected not to separate lease and non-lease components. The lease terms include options to extend or terminate the lease when it is reasonably certain the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term.

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to leases include:

 

 

 

 

September 30,

 

 

December 31,

 

 

Classification

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

 

Operating lease assets

Right of use asset - operating leases

 

$

26,429

 

 

$

30,561

 

Finance lease assets

Property, plant and equipment, net

 

 

7,371

 

 

 

7,927

 

Total lease assets

 

 

$

33,800

 

 

$

38,488

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

Current

Operating lease liability - short-term

 

$

6,699

 

 

$

6,597

 

Long-term

Operating lease liability - long-term

 

 

19,701

 

 

 

23,700

 

Total operating lease liabilities

 

 

 

26,400

 

 

 

30,297

 

Current

Finance lease liability - short-term

 

 

639

 

 

 

621

 

Long-term

Finance lease liability - long-term

 

 

7,512

 

 

 

7,994

 

Total finance lease liabilities

 

 

 

8,151

 

 

 

8,615

 

Total lease liabilities

 

 

$

34,551

 

 

$

38,912

 

 

 

The components of lease expense include:

 

 

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

Lease Cost

 

Classification

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost (1) (2)

 

Cost of sales

 

$

1,819

 

 

$

1,713

 

 

$

5,447

 

 

$

7,062

 

Operating lease cost (1) (3)

 

Selling, general and administrative expenses

 

 

743

 

 

 

1,001

 

 

 

4,198

 

 

 

2,932

 

Finance lease cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization expense

 

Cost of sales

 

 

185

 

 

 

185

 

 

 

556

 

 

 

556

 

Interest expense on lease liabilities

 

Interest expense, net

 

 

76

 

 

 

82

 

 

 

229

 

 

 

247

 

Total lease cost

 

 

 

$

2,823

 

 

$

2,981

 

 

$

10,430

 

 

$

10,797

 
(1)
Includes short-term leases and variable lease costs, which are immaterial
(2)
Operating lease costs included in Cost of sales for the nine months ended September 30, 2024, include a $1.8 million termination charge related to exiting an idled lease facility, as described in Note 4
(3)
Operating lease costs included in Selling, general and administrative for the nine months ended September 30, 2025 include $1.6 million in termination charges related to exiting idled lease facilities, as described in Note 4

Supplemental cash flow information related to leases was as follows:

 

 

 

For the Nine Months Ended September 30,

 

Supplemental Cash Flow Information

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

7,750

 

 

$

6,117

 

Operating cash flows from finance leases

 

$

229

 

 

$

247

 

Financing cash flows from finance leases

 

$

464

 

 

$

442

 

Right-of-use assets obtained in exchange for new lease liabilities:

 

 

 

 

 

 

Operating leases

 

$

2,345

 

 

$

5,218

 

Finance leases

 

$

—

 

 

$

—

 

 

Lease Term and Discount Rate

 

September 30, 2025

 

 

December 31, 2024

 

Weighted-average remaining lease term (years):

 

 

 

 

 

 

Operating leases

 

 

4.46

 

 

 

4.93

 

Finance leases

 

 

10.26

 

 

 

11.00

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

6.3

%

 

 

6.3

%

Finance leases

 

 

3.7

%

 

 

3.7

%

 

Maturity of Lease Liabilities - As of September 30, 2025

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

2025 (1)

 

$

2,050

 

 

$

231

 

 

$

2,281

 

2026

 

 

8,023

 

 

 

924

 

 

 

8,947

 

2027

 

 

6,803

 

 

 

945

 

 

 

7,748

 

2028

 

 

5,239

 

 

 

950

 

 

 

6,189

 

2029

 

 

3,661

 

 

 

950

 

 

 

4,611

 

After 2029

 

 

4,138

 

 

 

5,758

 

 

 

9,896

 

Total lease payments

 

 

29,914

 

 

 

9,758

 

 

 

39,672

 

Less: interest

 

 

(3,514

)

 

 

(1,607

)

 

 

(5,121

)

Present value of lease liabilities

 

$

26,400

 

 

$

8,151

 

 

$

34,551

 
(1)
Represents amounts due in 2025 after September 30, 2025
v3.25.3
Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segments

14. Segments

The Company, a leading manufacturer of products that protect the world from the ground up, manages its business under two operating segments, Material Handling and Distribution, consistent with the manner in which the Chief Operating Decision Maker ("CODM") evaluates performance and makes resource allocation decisions. The Company's CODM is the Chief Executive Officer. None of the

reportable segments include operating segments that have been aggregated. These segments contain individual business components that have been combined on the basis of common management, customers, products, production processes and other economic characteristics. Intersegment sales are recorded with a reasonable margin and are eliminated in consolidation.

The Material Handling Segment manufactures a broad selection of durable plastic reusable products that are used repeatedly during the course of their service life. At the end of their service life, these highly sustainable products can be recovered, recycled, and reprocessed into new products. The Material Handling Segment’s products include a broad selection of plastic reusable containers, pallets, small parts bins, bulk shipping containers, storage and organization products, OEM parts, custom plastic products, composite ground protection matting, consumer fuel containers and tanks for water, fuel and waste handling. Products in the Material Handling Segment are primarily injection molded, rotationally molded, compression molded or blow molded. This segment conducts its primary operations in the United States and Canada, but also exports globally. Markets served include industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational vehicles, marine vehicles, healthcare, appliance, bakery, electronics, textiles, construction, infrastructure and consumer, among others. Products are sold both directly to end-users and through distributors. The acquisition of Signature, as described in Note 3, is included in the Material Handling Segment.

The Distribution Segment is engaged in the distribution of equipment, tools, and supplies used for tire servicing and automotive under-vehicle repair and the manufacture of tire repair and retreading products. The product line includes categories such as tire valves and accessories, tire changing and balancing equipment, lifts and alignment equipment, service equipment and tools, and tire repair/retread supplies. The Distribution Segment also manufactures and sells certain traffic markings, including reflective highway marking tape. The Distribution Segment operates domestically through its regional and customer-focused sales team with strategically located regional distribution centers in the United States, and in certain foreign countries through export sales. In addition, the Distribution Segment operates directly in certain foreign markets, principally Central America, through foreign branch operations. Markets served include retail and truck tire dealers, commercial auto and truck fleets, truck stop operations, auto dealers, general service and repair centers, tire retreaders, and government agencies.

Total sales from foreign business units were approximately $14.5 million and $14.0 million for the quarters ended September 30, 2025 and 2024, respectively, and $41.1 million and $35.9 million for the nine months ended September 30, 2025 and 2024, respectively.

An analysis of the Company's operations by segment, including revenue by major market is as follows:

 

For the Quarter Ended September 30, 2025

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

66,846

 

 

$

—

 

 

$

—

 

 

$

(72

)

 

$

66,774

 

Infrastructure

 

27,276

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,276

 

Vehicle

 

21,943

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21,943

 

Consumer

 

20,174

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,174

 

Food and beverage

 

17,301

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,301

 

Auto aftermarket

 

—

 

 

 

51,967

 

 

 

—

 

 

 

—

 

 

 

51,967

 

Net sales

 

153,540

 

 

 

51,967

 

 

 

—

 

 

 

(72

)

 

 

205,435

 

Cost of sales

 

100,258

 

 

 

36,679

 

 

 

—

 

 

 

(72

)

 

 

136,865

 

Selling, general and administrative expenses

 

20,766

 

 

 

14,123

 

 

 

9,537

 

 

 

—

 

 

 

44,426

 

Depreciation and amortization

 

3,499

 

 

 

632

 

 

 

187

 

 

 

—

 

 

 

4,318

 

Freight out

 

2,332

 

 

 

180

 

 

 

—

 

 

 

—

 

 

 

2,512

 

(Gain) loss on disposal of fixed assets

 

112

 

 

 

(487

)

 

 

—

 

 

 

—

 

 

 

(375

)

Operating income (loss) (2)

 

26,573

 

 

 

840

 

 

 

(9,724

)

 

 

—

 

 

 

17,689

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

7,497

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

10,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

704,301

 

 

 

96,458

 

 

 

63,312

 

 

 

—

 

 

 

864,071

 

Capital additions, net

 

4,194

 

 

 

98

 

 

 

(47

)

 

 

—

 

 

 

4,245

 

Depreciation and amortization (7)

 

8,769

 

 

 

732

 

 

 

728

 

 

 

—

 

 

 

10,229

 

 

 

 

For the Quarter Ended September 30, 2024

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

64,806

 

 

$

—

 

 

$

—

 

 

$

(35

)

 

$

64,771

 

Infrastructure

 

20,736

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,736

 

Vehicle

 

24,839

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,839

 

Consumer

 

24,388

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,388

 

Food and beverage

 

15,949

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,949

 

Auto aftermarket

 

—

 

 

 

54,384

 

 

 

—

 

 

 

—

 

 

 

54,384

 

Net sales

 

150,718

 

 

 

54,384

 

 

 

—

 

 

 

(35

)

 

 

205,067

 

Cost of sales

 

102,401

 

 

 

37,571

 

 

 

—

 

 

 

(35

)

 

 

139,937

 

Selling, general and administrative expenses (1) (6) (8)

 

17,234

 

 

 

13,686

 

 

 

7,566

 

 

 

—

 

 

 

38,486

 

Depreciation and amortization

 

3,914

 

 

 

738

 

 

 

216

 

 

 

—

 

 

 

4,868

 

Freight out

 

4,072

 

 

 

260

 

 

 

—

 

 

 

—

 

 

 

4,332

 

(Gain) loss on disposal of fixed assets

 

195

 

 

 

(2

)

 

 

(1

)

 

 

—

 

 

 

192

 

Impairment charges (9)

 

22,016

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22,016

 

Operating income (loss) (2)

 

886

 

 

 

2,131

 

 

 

(7,781

)

 

 

—

 

 

 

(4,764

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

8,091

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

(12,855

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

752,137

 

 

 

105,816

 

 

 

47,046

 

 

 

—

 

 

 

904,999

 

Capital additions, net

 

6,995

 

 

 

7

 

 

 

176

 

 

 

—

 

 

 

7,178

 

Depreciation and amortization (7)

 

9,158

 

 

 

823

 

 

 

758

 

 

 

—

 

 

 

10,739

 

 

 

For the Nine Months Ended September 30, 2025

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

192,609

 

 

$

—

 

 

$

—

 

 

$

(273

)

 

$

192,336

 

Infrastructure

 

84,309

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

84,309

 

Vehicle

 

73,013

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

73,013

 

Consumer

 

67,118

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

67,118

 

Food and beverage

 

52,790

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

52,790

 

Auto aftermarket

 

—

 

 

 

152,202

 

 

 

—

 

 

 

—

 

 

 

152,202

 

Net sales

 

469,839

 

 

 

152,202

 

 

 

—

 

 

 

(273

)

 

 

621,768

 

Cost of sales

 

305,911

 

 

 

107,820

 

 

 

—

 

 

 

(273

)

 

 

413,458

 

Selling, general and administrative expenses (3) (4)

 

62,333

 

 

 

42,629

 

 

 

27,589

 

 

 

—

 

 

 

132,551

 

Depreciation and amortization

 

10,510

 

 

 

2,074

 

 

 

641

 

 

 

—

 

 

 

13,225

 

Freight out

 

7,461

 

 

 

656

 

 

 

—

 

 

 

—

 

 

 

8,117

 

(Gain) loss on disposal of fixed assets

 

198

 

 

 

(99

)

 

 

—

 

 

 

—

 

 

 

99

 

Operating income (loss) (2)

 

83,426

 

 

 

(878

)

 

 

(28,230

)

 

 

—

 

 

 

54,318

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

22,247

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

32,071

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

704,301

 

 

 

96,458

 

 

 

63,312

 

 

 

—

 

 

 

864,071

 

Capital additions, net

 

15,353

 

 

 

470

 

 

 

112

 

 

 

—

 

 

 

15,935

 

Depreciation and amortization (7)

 

26,644

 

 

 

2,368

 

 

 

2,261

 

 

 

—

 

 

 

31,273

 

 

 

For the Nine Months Ended September 30, 2024

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

179,561

 

 

$

—

 

 

$

—

 

 

$

(89

)

 

$

179,472

 

Infrastructure

 

71,791

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

71,791

 

Vehicle

 

83,621

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

83,621

 

Consumer

 

74,254

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

74,254

 

Food and beverage

 

59,724

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

59,724

 

Auto aftermarket

 

—

 

 

 

163,543

 

 

 

—

 

 

 

—

 

 

 

163,543

 

Net sales

 

468,951

 

 

 

163,543

 

 

 

—

 

 

 

(89

)

 

 

632,405

 

Cost of sales (5)

 

315,718

 

 

 

111,860

 

 

 

—

 

 

 

(89

)

 

 

427,489

 

Selling, general and administrative expenses (1) (6) (8)

 

59,652

 

 

 

43,809

 

 

 

26,286

 

 

 

—

 

 

 

129,747

 

Depreciation and amortization

 

10,788

 

 

 

2,199

 

 

 

628

 

 

 

—

 

 

 

13,615

 

Freight out

 

8,733

 

 

 

709

 

 

 

—

 

 

 

—

 

 

 

9,442

 

(Gain) loss on disposal of fixed assets

 

201

 

 

 

51

 

 

 

1

 

 

 

—

 

 

 

253

 

Impairment charges (9)

 

22,016

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22,016

 

Operating income (loss) (2)

 

51,843

 

 

 

4,915

 

 

 

(26,915

)

 

 

—

 

 

 

29,843

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

23,176

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

6,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

752,137

 

 

 

105,816

 

 

 

47,046

 

 

 

—

 

 

 

904,999

 

Capital additions, net

 

15,666

 

 

 

1,069

 

 

 

567

 

 

 

—

 

 

 

17,302

 

Depreciation and amortization (7)

 

25,706

 

 

 

2,426

 

 

 

1,946

 

 

 

—

 

 

 

30,078

 

(1) The Company recognized $(0.5) million and $(0.7) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter and nine months ended September 30, 2024, respectively, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.

(2) The Company incurred $3.2 million and $9.7 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2025, of which $1.5 million and $2.6 million are included in Material Handling, $0.1 million and $3.1 million are included in Distribution and $1.7 million and $4.0 million are included with Corporate's results, respectively. The Company incurred $2.0 million and $5.3 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2024, of which $1.4 million and $3.9 million are included in Material Handling and $0.2 million and $1.0 million are included in Distribution's results, respectively and $0.4 million is included in Corporate's results, for the quarter and nine months ended September 30, 2024.

(3) During the nine months ended September 30, 2025, the Company recognized a $1.6 million pre-tax pension settlement charge within the Material Handling segment, as described in Note 1.

(4) The Company recognized a $3.2 million recovery of purchased credit deteriorated assets for the nine months ended September 30, 2025, as described in Note 3. The recovery was recognized as a reduction to bad debt expense included in Selling, general and administrative within the Material Handling segment.

(5) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the nine months ended September 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3.

(6) The Company incurred $0.3 million and $4.4 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter and nine months ended September 30, 2024, of which $0.3 million and $4.1 million are included in Corporate for the quarter and nine months ended September 30, 2024, respectively and $0.3 million is included in Material Handling's results for the nine months ended September 30, 2024.

(7) Total depreciation and amortization inclusive of amounts within Cost of sales. Corporate depreciation and amortization includes amortization of deferred financing costs of $0.5 million and $0.5 million for the quarters ended September 30, 2025 and 2024, respectively, and $1.6 million and $1.3 million for the nine months ended September 30, 2025 and 2024, respectively.

(8) The Company recognized $1.4 million of executive severance which is included in Corporate's results for the quarter and nine months ended September 30, 2024.

(9) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 7, for the quarter and nine months ended September 30, 2024, which are included in Material Handling's results.
v3.25.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Myers Industries, Inc. and all wholly owned subsidiaries (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024.

In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of September 30, 2025, and the results of operations and cash flows for the periods presented. The results of operations for the quarter and nine months ended September 30, 2025 are not necessarily indicative of the results of operations that will occur for the year ending December 31, 2025.

In the first quarter of 2025, the Company updated its presentation of Depreciation and amortization expenses and third-party Freight out costs previously included in Selling, general and administrative expenses. Prior year amounts have been updated to conform to the current presentation as shown in the Condensed Consolidated Statements of Operations (Unaudited).
Accounting Standards Not Yet Adopted

Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU is intended to enhance the transparency and decision usefulness of income tax disclosures to provide information to better assess how an entity's operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For the Company, this ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments within this ASU should be applied prospectively although retrospective application is also permitted. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU is intended to improve the disclosures about an entity's expenses and requires disaggregation of certain expense captions into specified categories to provide more detailed information about the types of expenses commonly presented. For the Company, this ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments within this ASU should be applied prospectively to financial statements issued for reporting periods after the effective date of this update or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements.
Fair Value Measurement

Fair Value Measurement

The Company follows guidance included in ASC 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, as required. Under ASC 820, the hierarchy that prioritizes the inputs to valuation techniques used to measure fair value is divided into three levels:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2: Unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active or inputs that are observable either directly or indirectly.

Level 3: Unobservable inputs for which there is little or no market data or which reflect the entity’s own assumptions.

The Company has financial instruments, including cash, accounts receivable, accounts payable and accrued expenses. The fair value of these financial instruments approximates carrying value due to the nature and relative short maturity of these assets and liabilities.

The fair value of the Company’s revolving credit facility, as defined in Note 11, approximates carrying value due to the floating rates and the relative short maturity (less than 90 days) of any revolving borrowings under this agreement. The carrying value of the unhedged

portion of the Company’s term loan, as defined in Note 11, approximates fair value given that the underlying interest rate applied to such amounts outstanding is currently based upon floating market rates and the Company has the ability to repay the outstanding principal at par value at any time under the terms of this agreement.

The Company has also entered into an interest rate swap contract to reduce its exposure to fluctuations in variable interest rates for future interest payments, as defined in Note 11. The Company uses significant other observable market data or assumptions (Level 2 inputs) in determining the fair value of its interest rate swap that market participants would use in pricing similar assets or liabilities, including assumptions about counterparty risk. The fair value estimates reflect an income approach based on the terms of the interest rate swap contract and inputs corroborated by observable market data including interest rate curves. Refer to the derivative instruments section below for further information regarding the fair value measurements for the interest rate swap.

The purchase price allocation associated with the February 8, 2024 acquisition of Signature CR Intermediate Holdco, Inc. ("Signature" or "Signature Systems"), as described in Note 3, required fair value measurements using unobservable inputs which are considered Level 3 inputs. The fair value of the acquired intangible assets was determined using an income approach.

The Company performs its goodwill impairment test annually as of October 1 and in the interim only when impairment indicators are present. During the quarter ended September 30, 2024 the Company identified indicators of impairment at its rotational molding reporting unit triggering an interim quantitative assessment of goodwill at the rotational molding reporting unit. A quantitative assessment requires the Company to estimate the fair value of the reporting unit (Level 3 measurement), which the Company does using a combination of a discounted cash flow analysis and market-based approach. Estimating fair value requires the exercise of significant judgment, including judgment about appropriate discount rates, long term growth rates and the amount and timing of expected future cash flows. The cash flows employed in the discounted cash flow analyses are based on the most recent budget and long-term forecast. The discount rates used in the discounted cash flow analyses are intended to reflect the risks inherent in the future cash flows of the respective reporting units. The market-based approach estimates fair value using market multiples of various financial measures compared to a set of comparable public companies and recent comparable transactions. The fair value of the reporting unit is then compared to the carrying value, and any excess carrying value of the reporting unit above the fair value would indicate impairment.
Derivative Instruments

Derivative Instruments

On May 2, 2024, the Company entered into an interest rate swap agreement to limit its exposure to changes in interest rates on a portion of its floating rate indebtedness. The interest rate swap agreement is designated as a cash flow hedge that qualifies for hedge accounting. The swap has a beginning notional value of $200.0 million, which reduces proportionately with scheduled Term Loan A amortization payments, and has a final maturity date of January 31, 2029. The interest rate swap effectively results in a fixed rate of 4.606% plus the applicable margin for the hedged debt, as described in Note 11. The reset dates and all other critical terms on the term loans perfectly match with the interest rate swap and accordingly there were no amounts excluded from the measurement of hedge effectiveness.

At September 30, 2025, the remaining notional value of the Company's interest rate swap totaled $185.0 million and the net fair value of the Company's interest rate swap contract was estimated to be an unrealized loss of $6.1 million, which is included in the Condensed Consolidated Statements of Financial Position (Unaudited) within Other current liabilities and Other liabilities (long-term) at $1.6 million and $4.4 million, respectively. Fair value adjustments are recorded as a component of Accumulated Other Comprehensive Income (Loss) ('AOCI') in the Condensed Consolidated Statements of Financial Position (Unaudited) and balances in AOCI are reclassified into earnings when transactions related to the underlying risk are settled. The pre-tax balance of interest rate swap gain (loss) in AOCI for the quarter and nine months ended September 30, 2025 was $0.1 million and $(2.8) million, respectively and $(5.5) million and $(8.3) million for the quarter and nine months ended September 30, 2024, respectively. As of September 30, 2025, $1.6 million of net interest rate swap losses recorded in AOCI are expected to be reclassified into earnings within the next twelve months; however, the actual amount that will be reclassified will vary based on changes in interest rates.
Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (1)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2025

 

$

(16,702

)

 

$

(4,569

)

 

$

—

 

 

$

(21,271

)

Other comprehensive income (loss) before reclassifications

 

 

(772

)

 

 

2

 

 

 

—

 

 

 

(770

)

Reclassification to (earnings) loss

 

 

—

 

 

 

84

 

 

 

—

 

 

 

84

 

Net current-period other comprehensive income (loss)

 

 

(772

)

 

 

86

 

 

 

—

 

 

 

(686

)

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(1) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0.0 million for the quarter ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (2)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2024

 

$

(16,742

)

 

$

(2,118

)

 

$

(1,264

)

 

$

(20,124

)

Other comprehensive income (loss) before reclassifications

 

 

558

 

 

 

(3,623

)

 

 

—

 

 

 

(3,065

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(403

)

 

 

—

 

 

 

(403

)

Net current-period other comprehensive income (loss)

 

 

558

 

 

 

(4,026

)

 

 

—

 

 

 

(3,468

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(2) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(1.5) million for the quarter ended September 30, 2024.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (3)

 

 

Defined Benefit
Pension Plans (4)

 

 

Total

 

Balance at January 1, 2025

 

$

(18,609

)

 

$

(2,400

)

 

$

(1,101

)

 

$

(22,110

)

Other comprehensive income (loss) before reclassifications

 

 

1,135

 

 

 

(2,339

)

 

 

—

 

 

 

(1,204

)

Reclassification to (earnings) loss

 

 

—

 

 

 

256

 

 

 

1,101

 

 

 

1,357

 

Net current-period other comprehensive income (loss)

 

 

1,135

 

 

 

(2,083

)

 

 

1,101

 

 

 

153

 

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(3) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.7) million for the nine months ended September 30, 2025.

(4) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.4) million for the nine months ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (5)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at January 1, 2024

 

$

(15,551

)

 

$

—

 

 

$

(1,264

)

 

$

(16,815

)

Other comprehensive income (loss) before reclassifications

 

 

(633

)

 

 

(5,599

)

 

 

—

 

 

 

(6,232

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(545

)

 

 

—

 

 

 

(545

)

Net current-period other comprehensive income (loss)

 

 

(633

)

 

 

(6,144

)

 

 

—

 

 

 

(6,777

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(5) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(2.2) million for the nine months ended September 30, 2024.

Defined Benefit Plans

Defined Benefit Plans

On April 22, 2025, the Company entered into an agreement with United of Omaha Life Insurance Company (the “Insurer”), under which the Company purchased an irrevocable nonparticipating single premium group annuity contract from the insurer and transferred to the insurer the future benefit obligations and annuity administration for remaining retirees and beneficiaries under the Company’s defined benefit pension plan (the ‘Plan’) with remaining obligations that approximated $4.1 million, at the time of transfer. Under the group annuity contract, the Insurer has made an unconditional and irrevocable commitment to pay the pension benefits of each participant that are due on or after June 1, 2025 and the Company has no remaining obligations under the Plan. The purchase of the group annuity contract was funded primarily by the assets of the plan and as a result of the transaction, the Company recognized a pre-tax pension settlement charge of $1.6 million in the second quarter of 2025, primarily related to the non-cash acceleration of actuarial losses included within Accumulated Other Comprehensive Income (Loss) in the Condensed Consolidated Statements of Financial Position (Unaudited).
Allowance for Credit Losses

Allowance for Credit Losses

Management has established certain requirements that customers must meet before credit is extended. The financial condition of customers is continually monitored and collateral is usually not required. The Company evaluates the collectability of accounts receivable based on a combination of factors. The Company reviews historical trends for credit loss as well as current economic conditions in determining an estimate for its allowance for credit losses. Additionally, in circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, a specific allowance for credit losses is recorded against amounts due to reduce the net recognized receivable to the amount the Company reasonably expects will be collected.

The changes in the allowance for credit losses included within Trade accounts receivable for the nine months ended September 30, 2025 and 2024 were as follows:

 

 

 

2025

 

 

2024

 

Balance at January 1

 

$

4,183

 

 

$

2,989

 

Provision for expected credit loss, net of recoveries

 

 

442

 

 

 

1,839

 

Write-offs and other

 

 

(657

)

 

 

(586

)

Balance at September 30

 

$

3,968

 

 

$

4,242

 

Allowance for credit losses pertaining to the purchased credit deteriorated assets acquired in conjunction with the acquisition of Signature, as described in Note 3, are not included in the table above. These amounts totaled $3.2 million as of December 31, 2024 and are included net within Other accounts receivable and Other assets – long-term. As more fully described in Note 3, the purchased credit deteriorated assets were fully repaid during the nine months ended September 30, 2025 and the $3.2 million allowance for credit loss was reversed and recognized as a reduction to bad debt expense included in Selling, general and administrative on the Condensed Consolidated Statements of Operations (Unaudited).
Revenue Recognition

Revenue is recognized when obligations under the terms of a contract with customers are satisfied. In both the Distribution and Material Handling segments, this generally occurs with the transfer of control of the products. This transfer of control may occur at either the time of shipment from a Company facility, or at the time of delivery to a designated customer location. Obligations under contracts with customers are typically fulfilled within 90 days of receiving a purchase order from a customer, and generally no other future obligations are required to be performed. The Company generally does not enter into any long-term contracts with customers greater than one year. Based on the nature of the Company’s products and customer contracts, no deferred revenue has been recorded, with the exception of cash advances or deposits received from customers prior to transfer of control of the product. These advances are typically fulfilled within the 90-day time frame mentioned above.

Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the products. Certain contracts with customers include variable consideration, such as rebates or discounts. The Company recognizes estimates of this variable consideration each period, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs. While the Company’s contracts with customers do not generally include explicit rights to return product, the Company will in practice allow returns in the normal course of business and as part of the customer relationship. Expected returns allowances are recognized each period based on an analysis of historical experience, and when physical recovery of the product from returns occurs, an estimated right to return asset is also recorded based on the approximate cost of the product.
v3.25.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
The Balances in the Company's Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) are as follows:

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (1)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2025

 

$

(16,702

)

 

$

(4,569

)

 

$

—

 

 

$

(21,271

)

Other comprehensive income (loss) before reclassifications

 

 

(772

)

 

 

2

 

 

 

—

 

 

 

(770

)

Reclassification to (earnings) loss

 

 

—

 

 

 

84

 

 

 

—

 

 

 

84

 

Net current-period other comprehensive income (loss)

 

 

(772

)

 

 

86

 

 

 

—

 

 

 

(686

)

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(1) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0.0 million for the quarter ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (2)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at July 1, 2024

 

$

(16,742

)

 

$

(2,118

)

 

$

(1,264

)

 

$

(20,124

)

Other comprehensive income (loss) before reclassifications

 

 

558

 

 

 

(3,623

)

 

 

—

 

 

 

(3,065

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(403

)

 

 

—

 

 

 

(403

)

Net current-period other comprehensive income (loss)

 

 

558

 

 

 

(4,026

)

 

 

—

 

 

 

(3,468

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(2) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(1.5) million for the quarter ended September 30, 2024.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (3)

 

 

Defined Benefit
Pension Plans (4)

 

 

Total

 

Balance at January 1, 2025

 

$

(18,609

)

 

$

(2,400

)

 

$

(1,101

)

 

$

(22,110

)

Other comprehensive income (loss) before reclassifications

 

 

1,135

 

 

 

(2,339

)

 

 

—

 

 

 

(1,204

)

Reclassification to (earnings) loss

 

 

—

 

 

 

256

 

 

 

1,101

 

 

 

1,357

 

Net current-period other comprehensive income (loss)

 

 

1,135

 

 

 

(2,083

)

 

 

1,101

 

 

 

153

 

Balance at September 30, 2025

 

$

(17,474

)

 

$

(4,483

)

 

$

—

 

 

$

(21,957

)

(3) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.7) million for the nine months ended September 30, 2025.

(4) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(0.4) million for the nine months ended September 30, 2025.

 

 

 

Foreign
Currency

 

 

Interest Rate Swap (5)

 

 

Defined Benefit
Pension Plans

 

 

Total

 

Balance at January 1, 2024

 

$

(15,551

)

 

$

—

 

 

$

(1,264

)

 

$

(16,815

)

Other comprehensive income (loss) before reclassifications

 

 

(633

)

 

 

(5,599

)

 

 

—

 

 

 

(6,232

)

Reclassification to (earnings) loss

 

 

—

 

 

 

(545

)

 

 

—

 

 

 

(545

)

Net current-period other comprehensive income (loss)

 

 

(633

)

 

 

(6,144

)

 

 

—

 

 

 

(6,777

)

Balance at September 30, 2024

 

$

(16,184

)

 

$

(6,144

)

 

$

(1,264

)

 

$

(23,592

)

(5) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(2.2) million for the nine months ended September 30, 2024.

Summary of Changes in Allowance for Credit Losses

The changes in the allowance for credit losses included within Trade accounts receivable for the nine months ended September 30, 2025 and 2024 were as follows:

 

 

 

2025

 

 

2024

 

Balance at January 1

 

$

4,183

 

 

$

2,989

 

Provision for expected credit loss, net of recoveries

 

 

442

 

 

 

1,839

 

Write-offs and other

 

 

(657

)

 

 

(586

)

Balance at September 30

 

$

3,968

 

 

$

4,242

 
v3.25.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue Recognition [Abstract]  
Schedule of Balances included in Condensed Consolidated Statements of Financial Position (Unaudited) Related to Revenue Recognition

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to revenue recognition include:

 

 

 

September 30,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2025

 

 

2024

 

 

Classification

Returns, discounts and other allowances

 

$

(1,009

)

 

$

(1,051

)

 

Trade accounts receivable

Right of return asset

 

$

476

 

 

$

456

 

 

Inventories, net

Customer deposits

 

$

(1,457

)

 

$

(2,565

)

 

Other current liabilities

Accrued rebates

 

$

(4,949

)

 

$

(4,196

)

 

Other current liabilities
v3.25.3
Acquisitions (Tables) - Signature Systems [Member]
 9 Months Ended
Sep. 30, 2025
Summary of Final Allocation of Consideration For the Signature Acquisition

 

Initial Allocation of Consideration

 

Measurement Period Adjustments(1)

 

Final Allocation

 

Assets acquired:

 

 

 

 

 

 

Accounts receivable

$

18,902

 

$

(48

)

$

18,854

 

Inventories

 

17,612

 

 

(239

)

 

17,373

 

Prepaid expenses

 

719

 

 

(25

)

 

694

 

Other assets - long-term

 

4,761

 

 

437

 

 

5,198

 

Property, plant and equipment

 

28,281

 

 

(18

)

 

28,263

 

Right of use asset - operating leases

 

3,946

 

 

—

 

 

3,946

 

Intangible assets

 

127,000

 

 

9,700

 

 

136,700

 

Goodwill

 

215,105

 

 

(32,007

)

 

183,098

 

Assets acquired

$

416,326

 

$

(22,200

)

$

394,126

 

 

 

 

 

 

 

 

Liabilities assumed:

 

 

 

 

 

 

Accounts payable

$

4,542

 

$

362

 

$

4,904

 

Accrued expenses

 

5,646

 

 

266

 

 

5,912

 

Operating lease liability - short-term

 

525

 

 

—

 

 

525

 

Operating lease liability - long-term

 

2,400

 

 

—

 

 

2,400

 

Deferred income taxes

 

55,054

 

 

(22,981

)

 

32,073

 

Total liabilities assumed

 

68,167

 

 

(22,353

)

 

45,814

 

 

 

 

 

 

 

 

Net acquisition cost

$

348,159

 

$

153

 

$

348,312

 

(1) The Company's preliminary purchase price allocation changed due to additional information and further analysis.
Summary of Intangible Assets

Intangible assets consist of Signature’s technology, customer relationships and the Signature Systems indefinite-lived trade name, and are summarized in the table below:

 

 

Fair Value

 

 

Weighted Average
Estimated
Useful Life

Customer relationships

 

$

83,800

 

 

10.0 years

Technology

 

 

31,300

 

 

12.0 years

Total amortizable intangible assets

 

$

115,100

 

 

 

Intangible assets not subject to amortization:

 

 

 

 

 

Trademarks and trade names

 

$

21,600

 

 

Indefinite
Summary of Pro Forma Results of Operations The following pro forma results include adjustments to reflect acquisition related costs, additional interest expense, amortization of intangibles associated with the acquisition, amortization of acquisition-related inventory step-up costs and the effects of adjustments made to the carrying value of certain assets.

 

 

 

For the Quarter Ended March 31,

 

 

 

2024

 

Net sales

 

$

221,821

 

Net income

 

 

8,345

 
v3.25.3
Restructuring (Tables)
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Summary of Restructuring Charges

The restructuring charges noted above for the quarter and nine months ended September 30, 2025 and 2024, respectively, are presented in the Condensed Consolidated Statements of Operations (Unaudited) as follows:

 

 

 

For the Quarter Ended September 30,

 

 

 

 

2025

 

 

2024

 

Segment

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

Material Handling

 

 

$

1,102

 

 

$

370

 

 

$

1,472

 

 

$

1,160

 

 

$

236

 

 

$

1,396

 

Distribution

 

 

 

—

 

 

 

71

 

 

 

71

 

 

 

51

 

 

 

169

 

 

 

220

 

Corporate

 

 

 

—

 

 

 

1,675

 

 

 

1,675

 

 

 

—

 

 

 

417

 

 

 

417

 

Total

 

 

$

1,102

 

 

$

2,116

 

 

$

3,218

 

 

$

1,211

 

 

$

822

 

 

$

2,033

 

 

 

 

 

For the Nine Months Ended September 30,

 

 

 

 

2025

 

 

2024

 

Segment

 

 

Cost of
Sales

 

 

SG&A and Other (1)

 

 

Total

 

 

Cost of
Sales

 

 

SG&A

 

 

Total

 

Material Handling

 

 

$

1,598

 

 

$

1,033

 

 

$

2,631

 

 

$

3,624

 

 

$

236

 

 

$

3,860

 

Distribution

 

 

 

—

 

 

 

3,051

 

 

 

3,051

 

 

 

539

 

 

 

436

 

 

 

975

 

Corporate

 

 

 

—

 

 

 

3,981

 

 

 

3,981

 

 

 

—

 

 

 

417

 

 

 

417

 

Total

 

 

$

1,598

 

 

$

8,065

 

 

$

9,663

 

 

$

4,163

 

 

$

1,089

 

 

$

5,252

 

(1) Amounts included in SG&A and Other, for the nine months ended September 30, 2025 include a $0.5 million charge related to the facility consolidations, discussed above, that is classified within (Gain) loss on disposal of fixed assets on the Condensed Consolidated Statements of Operations (Unaudited).
Summary of Restructuring Liabilities

Restructuring liabilities are included in other current liabilities on the Condensed Consolidated Balance Sheets (Unaudited). The change in other current liabilities for the nine months ended September 30, 2025 was as follows:

 

 

Employee
Reduction

 

 

Facility Consolidations

 

 

Other Exit Costs (1)

 

 

Total

 

Balance at December 31, 2024

 

$

—

 

 

$

—

 

 

$

962

 

 

$

962

 

Charges to expense

 

 

1,759

 

 

 

3,449

 

 

 

4,455

 

 

 

9,663

 

Cash payments

 

 

(1,418

)

 

 

(2,189

)

 

 

(4,587

)

 

 

(8,194

)

Non-cash activity

 

 

171

 

 

 

(927

)

 

 

—

 

 

 

(756

)

Balance at September 30, 2025

 

$

512

 

 

$

333

 

 

$

830

 

 

$

1,675

 

 

(1) Other exit costs consist primarily of executive transition and other related costs.
v3.25.3
Inventories (Tables)
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Summary of Determination Cost of Inventories

Inventories consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Finished and in-process products

 

$

61,085

 

 

$

62,601

 

Raw materials and supplies

 

 

38,548

 

 

 

34,400

 

 

 

$

99,633

 

 

$

97,001

 
v3.25.3
Other Liabilities (Tables)
 9 Months Ended
Sep. 30, 2025
Other Liabilities Disclosure [Abstract]  
Schedule of Other Current Liabilities

The balance in Other current liabilities is comprised of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Customer deposits and accrued rebates

 

$

6,406

 

 

$

6,761

 

Dividends payable

 

 

5,430

 

 

 

5,613

 

Accrued litigation, claims and professional fees

 

 

337

 

 

 

110

 

Current portion of environmental reserves

 

 

7,705

 

 

 

6,605

 

Hedge contract liability

 

 

1,648

 

 

 

753

 

Other accrued expenses

 

 

5,366

 

 

 

6,952

 

 

 

$

26,892

 

 

$

26,794

 
Schedule of Other Liabilities (Long-term)

The balance in Other liabilities (long-term) is comprised of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Environmental reserves

 

$

8,098

 

 

$

9,984

 

Supplemental executive retirement plan liability

 

 

117

 

 

 

270

 

Pension liability

 

 

—

 

 

 

79

 

Hedge contract liability

 

 

4,409

 

 

 

2,490

 

Other long-term liabilities

 

 

2,424

 

 

 

2,480

 

 

 

$

15,048

 

 

$

15,303

 
v3.25.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
The change in goodwill

The change in goodwill for the nine months ended September 30, 2025 was as follows:

 

 

 

Distribution

 

 

Material
Handling

 

 

Total

 

January 1, 2025

 

$

14,730

 

 

$

240,802

 

 

$

255,532

 

Foreign currency translation

 

 

—

 

 

 

326

 

 

 

326

 

September 30, 2025

 

$

14,730

 

 

$

241,128

 

 

$

255,858

 
v3.25.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Weighted Average Number of Common Shares Outstanding During the Period

Net income per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Weighted average common shares outstanding basic

 

 

37,393,620

 

 

 

37,220,456

 

 

 

37,361,228

 

 

 

37,102,761

 

Dilutive effect of stock options and restricted stock

 

 

188,442

 

 

 

—

 

 

 

142,936

 

 

 

147,751

 

Weighted average common shares outstanding diluted

 

 

37,582,062

 

 

 

37,220,456

 

 

 

37,504,164

 

 

 

37,250,512

 
v3.25.3
Contingencies (Tables)
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Contingencies Reserve Balance For the quarter and nine months ended September 30, 2025 the following undiscounted activity was recorded in connection with the New Idria Mercury Mine:

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Beginning reserve balance

 

$

11,241

 

 

$

12,492

 

 

$

12,425

 

 

$

13,182

 

Changes in estimated environmental liability

 

 

900

 

 

 

200

 

 

 

900

 

 

 

1,000

 

Payments made

 

 

(718

)

 

 

(908

)

 

 

(1,902

)

 

 

(2,398

)

Ending reserve balance (1)

 

$

11,423

 

 

$

11,784

 

 

$

11,423

 

 

$

11,784

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning receivable balance

 

$

7,050

 

 

$

7,114

 

 

$

8,404

 

 

$

7,245

 

Changes in estimated insurance recovery

 

 

900

 

 

 

700

 

 

 

900

 

 

 

1,700

 

Insurance recovery reimbursements

 

 

(483

)

 

 

(621

)

 

 

(1,837

)

 

 

(1,752

)

Ending receivable balance (2)

 

$

7,467

 

 

$

7,193

 

 

$

7,467

 

 

$

7,193

 

(1) As of September 30, 2025, Buckhorn has a total ending reserve balance of $11.4 million related to the New Idria Mine, of which $7.4 million is classified in Other current liabilities and $4.0 million in Other liabilities (long-term).

(2) As of September 30, 2025, Buckhorn has a total receivable balance related to the probable insurance recovery of $7.5 million, of which $4.2 million is classified in Other accounts receivable and $3.3 million is classified in Other assets (long-term).
v3.25.3
Long-Term Debt and Loan Agreements (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long Term Debt

Long-term debt consisted of the following:

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Amended Loan Agreement - Revolving Credit Facility

 

$

—

 

 

$

—

 

Amended Loan Agreement - Term Loan A

 

 

367,000

 

 

 

382,000

 

 

 

 

367,000

 

 

 

382,000

 

Less unamortized deferred financing costs

 

 

5,774

 

 

 

7,041

 

 

 

 

361,226

 

 

 

374,959

 

Less current portion long-term debt

 

 

29,528

 

 

 

19,649

 

Long-term debt

 

$

331,698

 

 

$

355,310

 

 
v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Balances Included in Condensed Consolidated Statement of Financial Position (Unaudited) Related to Leases

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to leases include:

 

 

 

 

September 30,

 

 

December 31,

 

 

Classification

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

 

Operating lease assets

Right of use asset - operating leases

 

$

26,429

 

 

$

30,561

 

Finance lease assets

Property, plant and equipment, net

 

 

7,371

 

 

 

7,927

 

Total lease assets

 

 

$

33,800

 

 

$

38,488

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

Current

Operating lease liability - short-term

 

$

6,699

 

 

$

6,597

 

Long-term

Operating lease liability - long-term

 

 

19,701

 

 

 

23,700

 

Total operating lease liabilities

 

 

 

26,400

 

 

 

30,297

 

Current

Finance lease liability - short-term

 

 

639

 

 

 

621

 

Long-term

Finance lease liability - long-term

 

 

7,512

 

 

 

7,994

 

Total finance lease liabilities

 

 

 

8,151

 

 

 

8,615

 

Total lease liabilities

 

 

$

34,551

 

 

$

38,912

 
Schedule of Lease Expense

The components of lease expense include:

 

 

 

 

 

For the Quarter Ended September 30,

 

 

For the Nine Months Ended September 30,

 

Lease Cost

 

Classification

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost (1) (2)

 

Cost of sales

 

$

1,819

 

 

$

1,713

 

 

$

5,447

 

 

$

7,062

 

Operating lease cost (1) (3)

 

Selling, general and administrative expenses

 

 

743

 

 

 

1,001

 

 

 

4,198

 

 

 

2,932

 

Finance lease cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization expense

 

Cost of sales

 

 

185

 

 

 

185

 

 

 

556

 

 

 

556

 

Interest expense on lease liabilities

 

Interest expense, net

 

 

76

 

 

 

82

 

 

 

229

 

 

 

247

 

Total lease cost

 

 

 

$

2,823

 

 

$

2,981

 

 

$

10,430

 

 

$

10,797

 
(1)
Includes short-term leases and variable lease costs, which are immaterial
(2)
Operating lease costs included in Cost of sales for the nine months ended September 30, 2024, include a $1.8 million termination charge related to exiting an idled lease facility, as described in Note 4
(3)
Operating lease costs included in Selling, general and administrative for the nine months ended September 30, 2025 include $1.6 million in termination charges related to exiting idled lease facilities, as described in Note 4
Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

 

 

 

For the Nine Months Ended September 30,

 

Supplemental Cash Flow Information

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

7,750

 

 

$

6,117

 

Operating cash flows from finance leases

 

$

229

 

 

$

247

 

Financing cash flows from finance leases

 

$

464

 

 

$

442

 

Right-of-use assets obtained in exchange for new lease liabilities:

 

 

 

 

 

 

Operating leases

 

$

2,345

 

 

$

5,218

 

Finance leases

 

$

—

 

 

$

—

 

 

Lease Term and Discount Rate

 

September 30, 2025

 

 

December 31, 2024

 

Weighted-average remaining lease term (years):

 

 

 

 

 

 

Operating leases

 

 

4.46

 

 

 

4.93

 

Finance leases

 

 

10.26

 

 

 

11.00

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

6.3

%

 

 

6.3

%

Finance leases

 

 

3.7

%

 

 

3.7

%
Maturity of Operating and Finance Lease Liabilities

Maturity of Lease Liabilities - As of September 30, 2025

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

2025 (1)

 

$

2,050

 

 

$

231

 

 

$

2,281

 

2026

 

 

8,023

 

 

 

924

 

 

 

8,947

 

2027

 

 

6,803

 

 

 

945

 

 

 

7,748

 

2028

 

 

5,239

 

 

 

950

 

 

 

6,189

 

2029

 

 

3,661

 

 

 

950

 

 

 

4,611

 

After 2029

 

 

4,138

 

 

 

5,758

 

 

 

9,896

 

Total lease payments

 

 

29,914

 

 

 

9,758

 

 

 

39,672

 

Less: interest

 

 

(3,514

)

 

 

(1,607

)

 

 

(5,121

)

Present value of lease liabilities

 

$

26,400

 

 

$

8,151

 

 

$

34,551

 
(1)
Represents amounts due in 2025 after September 30, 2025
v3.25.3
Segments (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Company's Operations by Segment, Including Revenue by Major Market

An analysis of the Company's operations by segment, including revenue by major market is as follows:

 

For the Quarter Ended September 30, 2025

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

66,846

 

 

$

—

 

 

$

—

 

 

$

(72

)

 

$

66,774

 

Infrastructure

 

27,276

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,276

 

Vehicle

 

21,943

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21,943

 

Consumer

 

20,174

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,174

 

Food and beverage

 

17,301

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

17,301

 

Auto aftermarket

 

—

 

 

 

51,967

 

 

 

—

 

 

 

—

 

 

 

51,967

 

Net sales

 

153,540

 

 

 

51,967

 

 

 

—

 

 

 

(72

)

 

 

205,435

 

Cost of sales

 

100,258

 

 

 

36,679

 

 

 

—

 

 

 

(72

)

 

 

136,865

 

Selling, general and administrative expenses

 

20,766

 

 

 

14,123

 

 

 

9,537

 

 

 

—

 

 

 

44,426

 

Depreciation and amortization

 

3,499

 

 

 

632

 

 

 

187

 

 

 

—

 

 

 

4,318

 

Freight out

 

2,332

 

 

 

180

 

 

 

—

 

 

 

—

 

 

 

2,512

 

(Gain) loss on disposal of fixed assets

 

112

 

 

 

(487

)

 

 

—

 

 

 

—

 

 

 

(375

)

Operating income (loss) (2)

 

26,573

 

 

 

840

 

 

 

(9,724

)

 

 

—

 

 

 

17,689

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

7,497

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

10,192

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

704,301

 

 

 

96,458

 

 

 

63,312

 

 

 

—

 

 

 

864,071

 

Capital additions, net

 

4,194

 

 

 

98

 

 

 

(47

)

 

 

—

 

 

 

4,245

 

Depreciation and amortization (7)

 

8,769

 

 

 

732

 

 

 

728

 

 

 

—

 

 

 

10,229

 

 

 

 

For the Quarter Ended September 30, 2024

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

64,806

 

 

$

—

 

 

$

—

 

 

$

(35

)

 

$

64,771

 

Infrastructure

 

20,736

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,736

 

Vehicle

 

24,839

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,839

 

Consumer

 

24,388

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,388

 

Food and beverage

 

15,949

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,949

 

Auto aftermarket

 

—

 

 

 

54,384

 

 

 

—

 

 

 

—

 

 

 

54,384

 

Net sales

 

150,718

 

 

 

54,384

 

 

 

—

 

 

 

(35

)

 

 

205,067

 

Cost of sales

 

102,401

 

 

 

37,571

 

 

 

—

 

 

 

(35

)

 

 

139,937

 

Selling, general and administrative expenses (1) (6) (8)

 

17,234

 

 

 

13,686

 

 

 

7,566

 

 

 

—

 

 

 

38,486

 

Depreciation and amortization

 

3,914

 

 

 

738

 

 

 

216

 

 

 

—

 

 

 

4,868

 

Freight out

 

4,072

 

 

 

260

 

 

 

—

 

 

 

—

 

 

 

4,332

 

(Gain) loss on disposal of fixed assets

 

195

 

 

 

(2

)

 

 

(1

)

 

 

—

 

 

 

192

 

Impairment charges (9)

 

22,016

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22,016

 

Operating income (loss) (2)

 

886

 

 

 

2,131

 

 

 

(7,781

)

 

 

—

 

 

 

(4,764

)

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

8,091

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

(12,855

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

752,137

 

 

 

105,816

 

 

 

47,046

 

 

 

—

 

 

 

904,999

 

Capital additions, net

 

6,995

 

 

 

7

 

 

 

176

 

 

 

—

 

 

 

7,178

 

Depreciation and amortization (7)

 

9,158

 

 

 

823

 

 

 

758

 

 

 

—

 

 

 

10,739

 

 

 

For the Nine Months Ended September 30, 2025

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

192,609

 

 

$

—

 

 

$

—

 

 

$

(273

)

 

$

192,336

 

Infrastructure

 

84,309

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

84,309

 

Vehicle

 

73,013

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

73,013

 

Consumer

 

67,118

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

67,118

 

Food and beverage

 

52,790

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

52,790

 

Auto aftermarket

 

—

 

 

 

152,202

 

 

 

—

 

 

 

—

 

 

 

152,202

 

Net sales

 

469,839

 

 

 

152,202

 

 

 

—

 

 

 

(273

)

 

 

621,768

 

Cost of sales

 

305,911

 

 

 

107,820

 

 

 

—

 

 

 

(273

)

 

 

413,458

 

Selling, general and administrative expenses (3) (4)

 

62,333

 

 

 

42,629

 

 

 

27,589

 

 

 

—

 

 

 

132,551

 

Depreciation and amortization

 

10,510

 

 

 

2,074

 

 

 

641

 

 

 

—

 

 

 

13,225

 

Freight out

 

7,461

 

 

 

656

 

 

 

—

 

 

 

—

 

 

 

8,117

 

(Gain) loss on disposal of fixed assets

 

198

 

 

 

(99

)

 

 

—

 

 

 

—

 

 

 

99

 

Operating income (loss) (2)

 

83,426

 

 

 

(878

)

 

 

(28,230

)

 

 

—

 

 

 

54,318

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

22,247

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

32,071

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

704,301

 

 

 

96,458

 

 

 

63,312

 

 

 

—

 

 

 

864,071

 

Capital additions, net

 

15,353

 

 

 

470

 

 

 

112

 

 

 

—

 

 

 

15,935

 

Depreciation and amortization (7)

 

26,644

 

 

 

2,368

 

 

 

2,261

 

 

 

—

 

 

 

31,273

 

 

 

For the Nine Months Ended September 30, 2024

 

 

Material
Handling

 

 

Distribution

 

 

Corporate

 

 

Inter-company

 

 

Consolidated

 

Industrial

$

179,561

 

 

$

—

 

 

$

—

 

 

$

(89

)

 

$

179,472

 

Infrastructure

 

71,791

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

71,791

 

Vehicle

 

83,621

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

83,621

 

Consumer

 

74,254

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

74,254

 

Food and beverage

 

59,724

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

59,724

 

Auto aftermarket

 

—

 

 

 

163,543

 

 

 

—

 

 

 

—

 

 

 

163,543

 

Net sales

 

468,951

 

 

 

163,543

 

 

 

—

 

 

 

(89

)

 

 

632,405

 

Cost of sales (5)

 

315,718

 

 

 

111,860

 

 

 

—

 

 

 

(89

)

 

 

427,489

 

Selling, general and administrative expenses (1) (6) (8)

 

59,652

 

 

 

43,809

 

 

 

26,286

 

 

 

—

 

 

 

129,747

 

Depreciation and amortization

 

10,788

 

 

 

2,199

 

 

 

628

 

 

 

—

 

 

 

13,615

 

Freight out

 

8,733

 

 

 

709

 

 

 

—

 

 

 

—

 

 

 

9,442

 

(Gain) loss on disposal of fixed assets

 

201

 

 

 

51

 

 

 

1

 

 

 

—

 

 

 

253

 

Impairment charges (9)

 

22,016

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22,016

 

Operating income (loss) (2)

 

51,843

 

 

 

4,915

 

 

 

(26,915

)

 

 

—

 

 

 

29,843

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

23,176

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

6,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

752,137

 

 

 

105,816

 

 

 

47,046

 

 

 

—

 

 

 

904,999

 

Capital additions, net

 

15,666

 

 

 

1,069

 

 

 

567

 

 

 

—

 

 

 

17,302

 

Depreciation and amortization (7)

 

25,706

 

 

 

2,426

 

 

 

1,946

 

 

 

—

 

 

 

30,078

 

(1) The Company recognized $(0.5) million and $(0.7) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter and nine months ended September 30, 2024, respectively, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.

(2) The Company incurred $3.2 million and $9.7 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2025, of which $1.5 million and $2.6 million are included in Material Handling, $0.1 million and $3.1 million are included in Distribution and $1.7 million and $4.0 million are included with Corporate's results, respectively. The Company incurred $2.0 million and $5.3 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2024, of which $1.4 million and $3.9 million are included in Material Handling and $0.2 million and $1.0 million are included in Distribution's results, respectively and $0.4 million is included in Corporate's results, for the quarter and nine months ended September 30, 2024.

(3) During the nine months ended September 30, 2025, the Company recognized a $1.6 million pre-tax pension settlement charge within the Material Handling segment, as described in Note 1.

(4) The Company recognized a $3.2 million recovery of purchased credit deteriorated assets for the nine months ended September 30, 2025, as described in Note 3. The recovery was recognized as a reduction to bad debt expense included in Selling, general and administrative within the Material Handling segment.

(5) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the nine months ended September 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3.

(6) The Company incurred $0.3 million and $4.4 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter and nine months ended September 30, 2024, of which $0.3 million and $4.1 million are included in Corporate for the quarter and nine months ended September 30, 2024, respectively and $0.3 million is included in Material Handling's results for the nine months ended September 30, 2024.

(7) Total depreciation and amortization inclusive of amounts within Cost of sales. Corporate depreciation and amortization includes amortization of deferred financing costs of $0.5 million and $0.5 million for the quarters ended September 30, 2025 and 2024, respectively, and $1.6 million and $1.3 million for the nine months ended September 30, 2025 and 2024, respectively.

(8) The Company recognized $1.4 million of executive severance which is included in Corporate's results for the quarter and nine months ended September 30, 2024.

(9) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 7, for the quarter and nine months ended September 30, 2024, which are included in Material Handling's results.
v3.25.3
Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 9 Months Ended
May 02, 2024
May 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Apr. 22, 2025
Dec. 31, 2024
Organization Consolidation And Presentation Of Financial Statements [Line Items]                  
Defined benefit pension plan     $ 0     $ 0   $ 4,100  
Pre-tax pension settlement charge       $ 1,600          
Allowance for credit loss     3,200     3,200     $ 3,200
Allowance for credit loss reversed   $ 3,200       3,200      
Interest Rate Swap [Member]                  
Organization Consolidation And Presentation Of Financial Statements [Line Items]                  
Derivative, Notional Amount $ 200,000   185,000     185,000      
Fair value, interest rate swap     6,100     6,100      
Net interest rate swap gains     100   $ (5,500) (2,800) $ (8,300)    
Losses expected to be reclassified           (1,600)      
Maturity date Jan. 31, 2029                
Debt effective rate 4.606%                
Interest Rate Swap [Member] | Other Current Liabilities [Member]                  
Organization Consolidation And Presentation Of Financial Statements [Line Items]                  
Fair value, interest rate swap     (1,600)     (1,600)      
Interest Rate Swap [Member] | Other Noncurrent Liabilities [Member]                  
Organization Consolidation And Presentation Of Financial Statements [Line Items]                  
Fair value, interest rate swap     $ 4,400     $ 4,400      
v3.25.3
Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance $ 284,640 $ 294,552 $ 277,512 $ 292,800
Unrealized Gain (Loss) On Interest Rate Swap Contracts, Net Of Tax Expense (Benefit) [1] 2 (3,623) (2,339) (5,599)
Total other comprehensive income (loss) (686) (3,468) 153 (6,777)
Ending balance 286,623 275,639 286,623 275,639
Interest Rate Swap [Member]        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance (4,569) (2,118) (2,400) 0
Other comprehensive income (loss) before reclassifications 2 (3,623) (2,339) (5,599)
Reclassification to (earnings) loss 84 (403) 256 (545)
Total other comprehensive income (loss) 86 (4,026) (2,083) (6,144)
Ending balance (4,483) (6,144) (4,483) (6,144)
Foreign Currency [Member]        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance (16,702) (16,742) (18,609) (15,551)
Other comprehensive income (loss) before reclassifications (772) 558 1,135 (633)
Reclassification to (earnings) loss 0 0 0 0
Total other comprehensive income (loss) (772) 558 1,135 (633)
Ending balance (17,474) (16,184) (17,474) (16,184)
Defined Benefit Pension Plans [Member]        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance 0 (1,264) (1,101) (1,264)
Other comprehensive income (loss) before reclassifications 0 0 0 0
Reclassification to (earnings) loss 0 0 1,101 0
Total other comprehensive income (loss) 0 0 1,101 0
Ending balance 0 (1,264) 0 (1,264)
Accumulated Other Comprehensive Income (Loss) [Member]        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Beginning balance (21,271) (20,124) (22,110) (16,815)
Other comprehensive income (loss) before reclassifications (770) (3,065) (1,204) (6,232)
Reclassification to (earnings) loss 84 (403) 1,357 (545)
Total other comprehensive income (loss) (686) (3,468) 153 (6,777)
Ending balance $ (21,957) $ (23,592) $ (21,957) $ (23,592)
[1] Amounts shown net of tax expense (benefit) of $30 and $(732) for the quarter and nine months ended September 30, 2025, respectively and $(1,453) and $(2,159) for the quarter and nine months ended September 30, 2024, respectively.
v3.25.3
Summary of Significant Accounting Policies - The Balances in the Company's Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Reclassification from AOCI, Current Period, Tax [Abstract]        
Net of tax expense (benefit) $ 0 $ (1,500) $ (700) $ (2,200)
Tax expense on pension liability     $ (399)  
v3.25.3
Summary of Significant Accounting Policies - Summary of Changes in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]    
Balance at January 1 $ 4,183 $ 2,989
Provision for expected credit loss, net of recoveries 442 1,839
Write-offs and other (657) (586)
Balance at September 30 $ 3,968 $ 4,242
v3.25.3
Revenue Recognition - Schedule of Balances included in Condensed Consolidated Statements of Financial Position (Unaudited) Related to Revenue Recognition (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Trade Accounts Receivable [Member]    
Disaggregation Of Revenue [Line Items]    
Returns, discounts and other allowances $ (1,009) $ (1,051)
Inventories, net [Member]    
Disaggregation Of Revenue [Line Items]    
Right of return asset 476 456
Other Current Liabilities [Member]    
Disaggregation Of Revenue [Line Items]    
Customer deposits (1,457) (2,565)
Accrued rebates $ (4,949) $ (4,196)
v3.25.3
Revenue Recognition - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation Of Revenue [Line Items]        
Type of Cost, Good or Service [Extensible Enumeration]     us-gaap:ShippingAndHandlingMember us-gaap:ShippingAndHandlingMember
Cost of sales $ 136,865 $ 139,937 $ 413,458 $ 427,489 [1]
Freight out expense 2,512 4,332 8,117 9,442
Cost of Sales [Member]        
Disaggregation Of Revenue [Line Items]        
Cost of sales $ 2,600 $ 2,800 $ 7,800 $ 8,400
[1]

(5) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the nine months ended September 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3.
v3.25.3
Acquisitions - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 9 Months Ended
Feb. 08, 2024
May 31, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Business Acquisition [Line Items]            
Acquisition related costs     $ 0.3   $ 4.4  
Long term notes receivable       $ 11.4    
Preliminary estimated fair value       7.0    
Preliminary estimated fair value current portion       1.9    
Allowance for credit loss       3.2   $ 3.2
Allowance for credit loss reversed   $ 3.2   3.2    
Noncredit discount   0.3   $ 1.2    
Maturity Date       Aug. 30, 2026    
Long term notes receivable outstanding   $ 8.3        
Signature Systems [Member]            
Business Acquisition [Line Items]            
Purchase price of acquisition $ 348.3          
Net of cash acquired $ 4.3          
v3.25.3
Acquisitions - Summary of Final Allocation of Consideration For the Signature Acquisition (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Feb. 08, 2024
Assets acquired:      
Goodwill $ 255,858 $ 255,532  
Signature Systems [Member]      
Assets acquired:      
Accounts receivable     $ 18,854
Inventories     17,373
Prepaid expenses     694
Other assets - long term     5,198
Property, plant and equipment     28,263
Right of use asset - operating leases     3,946
Intangible assets     136,700
Goodwill     183,098
Assets acquired     394,126
Liabilities assumed:      
Accounts payable     4,904
Accrued expenses     5,912
Operating lease liability - short term     525
Operating lease liability - long term     2,400
Deferred income taxes     32,073
Total liabilities assumed     45,814
Net acquisition cost     348,312
Signature Systems [Member] | Initial Allocation of Consideration [Member]      
Assets acquired:      
Accounts receivable     18,902
Inventories     17,612
Prepaid expenses     719
Other assets - long term     4,761
Property, plant and equipment     28,281
Right of use asset - operating leases     3,946
Intangible assets     127,000
Goodwill     215,105
Assets acquired     416,326
Liabilities assumed:      
Accounts payable     4,542
Accrued expenses     5,646
Operating lease liability - short term     525
Operating lease liability - long term     2,400
Deferred income taxes     55,054
Total liabilities assumed     68,167
Net acquisition cost     348,159
Signature Systems [Member] | Measurement Period Adjustments [Member]      
Assets acquired:      
Accounts receivable [1]     (48)
Inventories [1]     (239)
Prepaid expenses [1]     (25)
Other assets - long term [1]     437
Property, plant and equipment [1]     (18)
Right of use asset - operating leases [1]     0
Intangible assets [1]     9,700
Goodwill [1]     (32,007)
Assets acquired [1]     (22,200)
Liabilities assumed:      
Accounts payable [1]     362
Accrued expenses [1]     266
Operating lease liability - short term [1]     0
Operating lease liability - long term [1]     0
Deferred income taxes [1]     (22,981)
Total liabilities assumed [1]     (22,353)
Net acquisition cost [1]     $ 153
[1]

(1) The Company's preliminary purchase price allocation changed due to additional information and further analysis.
v3.25.3
Acquisitions - Summary of Intangible Assets - Signature (Details) - Signature Systems [Member]
$ in Thousands
Feb. 08, 2024
USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]  
Total amortizable intangible assets, Fair value $ 115,100
Customer Relationships [Member]  
Acquired Finite-Lived Intangible Assets [Line Items]  
Total amortizable intangible assets, Fair value $ 83,800
Weighted Average Estimated Useful Life 10 years
Technology [Member]  
Acquired Finite-Lived Intangible Assets [Line Items]  
Total amortizable intangible assets, Fair value $ 31,300
Weighted Average Estimated Useful Life 12 years
Trademarks and Trade Names [Member]  
Acquired Finite-Lived Intangible Assets [Line Items]  
Total amortizable intangible assets, Fair value $ 21,600
Weighted Average Estimated Useful Life Indefinite
v3.25.3
Acquisitions - Summary of Pro Forma Results of Operations - Signature (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]      
Net income   $ 23,598 $ 2,904
Acquisition-related Costs [Member] | Signature Systems [Member]      
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]      
Net sales $ 221,821    
Net income $ 8,345    
v3.25.3
Restructuring - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Dec. 31, 2024
Restructuring Cost And Reserve [Line Items]              
Restructuring charges $ 3,218 $ 2,033   $ 9,663 $ 5,252    
Accrued and unpaid restructuring expenses 1,675     1,675   $ 1,675 $ 962
Maximum [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring costs       12,000      
Distribution Segment [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges   200   2,500 1,000    
Contract Termination [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges       1,600      
Accrued and unpaid restructuring expenses 300     300   300  
Facility Consolidation [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges   $ 1,200     1,200    
Other Restructuring [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges 1,100   $ 600 2,600 800    
Accrued and unpaid restructuring expenses 300     300   300 900
Focused Transformation [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges 800     3,200      
Accrued and unpaid restructuring expenses 500     500   500  
Annualized cost savings 20,000     20,000   20,000  
Focused Transformation Initiatives [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges 1,300     1,300      
Accrued and unpaid restructuring expenses 500     500   500  
Ameri-Kart [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges         2,300    
Accrued and unpaid restructuring expenses $ 0     0   0 0
Ameri-Kart [Member] | Contract Termination [Member]              
Restructuring Cost And Reserve [Line Items]              
Restructuring charges       $ 1,600 $ 1,800   $ 1,800
Distribution Segment [Member]              
Restructuring Cost And Reserve [Line Items]              
Revenue from business           $ 186,000  
v3.25.3
Restructuring - Summary of Restructuring Charges (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring charges $ 3,218 $ 2,033 $ 9,663 $ 5,252
Cost of Sales [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 1,102 1,211 1,598 4,163
SG&A        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 2,116 822 8,065 [1] 1,089
Material Handling [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 1,472 1,396 2,631 3,860
Material Handling [Member] | Cost of Sales [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 1,102 1,160 1,598 3,624
Material Handling [Member] | SG&A        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 370 236 1,033 [1] 236
Distribution [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 71 220 3,051 975
Distribution [Member] | Cost of Sales [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 0 51 0 539
Distribution [Member] | SG&A        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 71 169 3,051 [1] 436
Corporate [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 1,675 417 3,981 417
Corporate [Member] | Cost of Sales [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 0 0 0 0
Corporate [Member] | SG&A        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges $ 1,675 $ 417 $ 3,981 [1] $ 417
[1]

(1) Amounts included in SG&A and Other, for the nine months ended September 30, 2025 include a $0.5 million charge related to the facility consolidations, discussed above, that is classified within (Gain) loss on disposal of fixed assets on the Condensed Consolidated Statements of Operations (Unaudited).
v3.25.3
Restructuring - Schedule of Restructuring Liabilities (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost And Reserve [Line Items]        
Restructuring charges $ 3,218 $ 2,033 $ 9,663 $ 5,252
Facility Consolidations [Member]        
Restructuring Cost And Reserve [Line Items]        
Restructuring charges     500  
SG&A        
Restructuring Cost And Reserve [Line Items]        
Restructuring charges $ 2,116 $ 822 $ 8,065 [1] $ 1,089
[1]

(1) Amounts included in SG&A and Other, for the nine months ended September 30, 2025 include a $0.5 million charge related to the facility consolidations, discussed above, that is classified within (Gain) loss on disposal of fixed assets on the Condensed Consolidated Statements of Operations (Unaudited).
v3.25.3
Restructuring - Schedule of Restructuring Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve, Beginning Balance     $ 962  
Charges to expense $ 3,218 $ 2,033 9,663 $ 5,252
Cash payments     (8,194)  
Non-cash Activity     (756)  
Restructuring Reserve, Ending Balance 1,675   1,675  
Employee Reduction [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve, Beginning Balance     0  
Charges to expense     1,759  
Cash payments     (1,418)  
Non-cash Activity     171  
Restructuring Reserve, Ending Balance 512   512  
Facility Consolidations [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve, Beginning Balance     0  
Charges to expense     3,449  
Cash payments     (2,189)  
Non-cash Activity     (927)  
Restructuring Reserve, Ending Balance 333   333  
Other Exit Costs [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve, Beginning Balance [1]     962  
Charges to expense [1]     4,455  
Cash payments [1]     (4,587)  
Non-cash Activity [1]     0  
Restructuring Reserve, Ending Balance [1] $ 830   $ 830  
[1]

(1) Other exit costs consist primarily of executive transition and other related costs.
v3.25.3
Inventories - Additional Information (Details) - USD ($)
 3 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Inventories    
Percentage of LIFO Inventory 30.00%  
LIFO inventories, change in cost of sales $ 0 $ 0
v3.25.3
Inventories - Summary of Determination Cost of Inventories (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Finished and in-process products $ 61,085 $ 62,601
Raw materials and supplies 38,548 34,400
Inventory net $ 99,633 $ 97,001
v3.25.3
Other Liabilities - Schedule of Other Current Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Customer deposits and accrued rebates $ 6,406 $ 6,761
Dividends payable 5,430 5,613
Accrued litigation, claims and professional fees 337 110
Current portion of environmental reserves 7,705 6,605
Hedge contract liability $ 1,648 $ 753
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration] Liabilities, Current Liabilities, Current
Other accrued expenses $ 5,366 $ 6,952
Other current liabilities, Total $ 26,892 $ 26,794
v3.25.3
Other Liabilities - Schedule of Other Liabilities (Long-term) (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Environmental reserves $ 8,098 $ 9,984
Supplemental executive retirement plan liability 117 270
Pension liability 0 79
Hedge contract liability 4,409 2,490
Other long-term liabilities 2,424 2,480
Other liabilities (long-term), Total $ 15,048 $ 15,303
v3.25.3
Goodwill and Intangible Assets - Change in Goodwill (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 255,532
Foreign currency translation 326
Ending balance 255,858
Distribution [Member]  
Goodwill [Roll Forward]  
Beginning balance 14,730
Foreign currency translation 0
Ending balance 14,730
Material Handling [Member]  
Goodwill [Roll Forward]  
Beginning balance 240,802
Foreign currency translation 326
Ending balance $ 241,128
v3.25.3
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Rotational Molding Reporting Unit [Member]    
Finite And Indefinite Lived Intangible Assets [Line Items]    
Impairment charges $ 22.0  
Trade Names [Member]    
Finite And Indefinite Lived Intangible Assets [Line Items]    
Carrying value of indefinite-lived intangible assets $ 31.4 $ 31.4
v3.25.3
Stockholders' Equity (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Weighted average common shares outstanding basic 37,393,620 37,220,456 37,361,228 37,102,761
Dilutive effect of stock options and restricted stock (in shares) 188,442 0 142,936 147,751
Weighted average common shares outstanding diluted (in shares) 37,582,062 37,220,456 37,504,164 37,250,512
v3.25.3
Stockholders' Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Feb. 27, 2025
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Class of Stock [Line Items]          
Excluded shares that would have been included with net income (in shares)     2,280    
Anti-dilutive securities excluded from computation of net earnings or loss per common share   6,973 13,664 10,347 10,290
Stock repurchased   $ 506   $ 2,021  
2025 Repurchase Program [Member]          
Class of Stock [Line Items]          
Stock repurchased, shares   30,579   147,463  
Stock repurchased   $ 500   $ 2,000  
Shares acquired, average cost per share   $ 16.37   $ 13.57  
Stock repurchase program expiration date Dec. 31, 2025        
Stock repurchase program remaining authorized repurchase amount   $ 8,000   $ 8,000  
Maximum [Member] | 2025 Repurchase Program [Member]          
Class of Stock [Line Items]          
Shares authorized to repurchase $ 10,000        
v3.25.3
Stock Compensation - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Apr. 25, 2024
Mar. 16, 2024
Apr. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Period of expiration, term     10 years        
Stock compensation expense $ 1.0 $ 0.2 $ 2.7 $ 0.7      
Total unrecognized compensation cost related to non-vested share based compensation arrangements $ 5.7   $ 5.7        
Unrecognized compensation cost period for recognition     3 years        
2021 Plan [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Shares authorized for grant under plan (in shares)           0 2,000,000
2024 Plan [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Shares authorized for grant under plan (in shares)         2,500,000    
v3.25.3
Contingencies - Additional Information (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended 168 Months Ended
Mar. 18, 2025
Feb. 14, 2023
Dec. 31, 2018
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2016
Sep. 30, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]                
Other current liabilities       $ 26,892,000     $ 26,892,000 $ 26,794,000
Other liabilities       15,048,000     15,048,000 $ 15,303,000
New Idria Mercury Mine [Member]                
Loss Contingencies [Line Items]                
Financial assurance required to be provided to EPA to secure performance     $ 2,000,000          
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] | Natural Resource Damage Claim [Member]                
Loss Contingencies [Line Items]                
Total reserve       4,400,000     4,400,000  
Other current liabilities       300,000     300,000  
Other liabilities       4,100,000     4,100,000  
Expense recognized       0 $ 0      
Revised estimated project cost       $ 9,000,000        
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] | Natural Resource Damage Claim [Member] | Minimum [Member]                
Loss Contingencies [Line Items]                
Original estimated project costs           $ 3,300,000    
New Almaden Mine (Formerly Referred to as Guadalupe River Watershed) [Member] | Natural Resource Damage Claim [Member] | Maximum [Member]                
Loss Contingencies [Line Items]                
Original estimated project costs           $ 4,400,000    
Scepter Company [Member] | Ms.McCartney [Member]                
Loss Contingencies [Line Items]                
Loss Contingency, Damages Sought, Value   $ 30,000            
Scepter Company [Member] | Ryan Colvin [Member]                
Loss Contingencies [Line Items]                
Loss Contingency, Damages Sought, Value $ 75,000              
Pending Litigation [Member] | New Idria Mercury Mine [Member] | EPA Notice Letter [Member]                
Loss Contingencies [Line Items]                
Payments made             16,500,000  
Insurance recoveries             8,000,000  
Loss contingency, Loss in period             $ 26,000,000  
v3.25.3
Contingencies - Schedule of Contingencies Reserve Balance (Details) - New Idria Mercury Mine [Member] - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Loss Contingencies [Line Items]        
Beginning reserve balance $ 11,241 $ 12,492 $ 12,425 $ 13,182
Changes in estimated environmental liability 900 200 900 1,000
Payments made (718) (908) (1,902) (2,398)
Ending reserve balance [1] 11,423 11,784 11,423 11,784
Beginning receivable balance 7,050 7,114 8,404 7,245
Changes in estimated insurance recovery 900 700 900 1,700
Insurance recovery reimbursements (483) (621) (1,837) (1,752)
Ending receivable balance [2] $ 7,467 $ 7,193 $ 7,467 $ 7,193
[1]

(1) As of September 30, 2025, Buckhorn has a total ending reserve balance of $11.4 million related to the New Idria Mine, of which $7.4 million is classified in Other current liabilities and $4.0 million in Other liabilities (long-term).
[2]

(2) As of September 30, 2025, Buckhorn has a total receivable balance related to the probable insurance recovery of $7.5 million, of which $4.2 million is classified in Other accounts receivable and $3.3 million is classified in Other assets (long-term).
v3.25.3
Contingencies - Schedule of Contingencies Reserve Balance (Parenthetical) (Details) - New Idria Mercury Mine [Member] - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
 [1]
Jun. 30, 2024
Dec. 31, 2023
Loss Contingencies [Line Items]            
Accrual for Environmental Loss Contingencies $ 11,423 [1] $ 11,241 $ 12,425 $ 11,784 $ 12,492 $ 13,182
Estimated Insurance Recoveries 7,500          
Other Current Liabilities [Member]            
Loss Contingencies [Line Items]            
Accrual for Environmental Loss Contingencies $ 7,400          
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other Accrued Liabilities, Current          
Other Noncurrent Liabilities [Member]            
Loss Contingencies [Line Items]            
Accrual for Environmental Loss Contingencies $ 4,000          
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Noncurrent          
Accounts Receivable [Member]            
Loss Contingencies [Line Items]            
Estimated Insurance Recoveries $ 4,200          
Other Noncurrent Assets [Member]            
Loss Contingencies [Line Items]            
Estimated Insurance Recoveries $ 3,300          
[1]

(1) As of September 30, 2025, Buckhorn has a total ending reserve balance of $11.4 million related to the New Idria Mine, of which $7.4 million is classified in Other current liabilities and $4.0 million in Other liabilities (long-term).
v3.25.3
Long-Term Debt and Loan Agreements - Schedule of Long Term Debt (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Feb. 08, 2024
Debt Instrument [Line Items]      
Long-term Debt $ 367,000 $ 382,000 $ 400,000
Less unamortized deferred financing fees 5,774 7,041  
Long-term Debt, net of deferred financing costs 361,226 374,959  
Less current portion long-term debt 29,528 19,649  
Long-term Debt 331,698 355,310  
Amended Loan Agreement - Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Revolving Credit Facility 0 0  
Amended Loan Agreement - Term Loan A [Member]      
Debt Instrument [Line Items]      
Long-term Debt $ 367,000 $ 382,000  
v3.25.3
Long-Term Debt and Loan Agreements - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
May 02, 2024
Feb. 08, 2024
Feb. 06, 2024
Jan. 12, 2024
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Debt Instrument [Line Items]                  
Long-term Debt   $ 400,000     $ 367,000   $ 367,000   $ 382,000
Line of credit facility, interest rate description             Borrowings under the Amended Loan Agreement bear interest at the Term SOFR, RFR, SONIA, EURIBOR and CORRA-based borrowing rates. Amounts borrowed under the credit facility are secured by pledges to all of the Company's assets (except with respect to certain assets that are customarily excluded for the incurrence of such liens).    
Loss on debt extinguishment     $ (100)            
Loan agreement amendment description   On February 8, 2024, the Company entered into Amendment No. 1 to the Seventh Amended and Restated Loan Agreement (“Amendment No. 1”), which amended the Seventh Amended and Restated Loan Agreement (the "Loan Agreement”) dated September 29, 2022 (collectively, the “Amended Loan Agreement”). Amendment No. 1, among other things, permitted the acquisition of Signature Systems and provided a new 5-year $400 million term loan facility              
Interest Rate Swap [Member]                  
Debt Instrument [Line Items]                  
Derivative, Notional Amount $ 200,000       185,000   $ 185,000    
Debt effective rate 4.606%                
Maturity date Jan. 31, 2029                
Senior Unsecured Notes [Member]                  
Debt Instrument [Line Items]                  
Repayments of Senior Debt       $ 26,000          
Repayments of Debt     $ 12,000            
Amendment No One To The Seventh Amended [Member]                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity on line of credit   $ 250,000              
Financing Receivable, Deferred Commitment Fee   $ 9,200     900   900   1,300
Loan Agreement [Member]                  
Debt Instrument [Line Items]                  
Remaining amount available under the line of credit         244,700   244,700    
Letters of credit         $ 5,300   $ 5,300    
Debt weighted average interest rate1         8.04% 8.40% 7.85% 8.60%  
Term Loan A [Member]                  
Debt Instrument [Line Items]                  
Loan maturity period   2029-02              
Financing Receivable, Deferred Commitment Fee   $ 8,500     $ 5,800   $ 5,800   $ 7,000
Quarterly installment payments   5,000              
Debt instrument periodic payment, thereafter   10,000              
Other Assets [Member]                  
Debt Instrument [Line Items]                  
Revolving Credit Facility   $ 700              
v3.25.3
Income Taxes - Additional Information (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Taxes [Line Items]        
Effective tax rate for the year 30.50% 15.40% 26.40% 56.40%
Income tax examination, description     The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of September 30, 2025, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2021.  
State and Local [Member]        
Income Taxes [Line Items]        
Income tax examination for tax years     2020 2021 2022 2023  
Non-U.S [Member]        
Income Taxes [Line Items]        
Income tax examination for tax years     2021 2022 2023 2024  
v3.25.3
Leases - Additional Information (Details)
 9 Months Ended
Sep. 30, 2025
Lessee Lease Description [Line Items]  
Lessee, operating lease, renewal term 5 years
Operating lease, option to terminate Certain of these leases include options to extend the lease for up to five years, and some include options to terminate the lease early.
Minimum [Member]  
Lessee Lease Description [Line Items]  
Facility lease period 1 year
Maximum [Member]  
Lessee Lease Description [Line Items]  
Facility lease period 10 years
v3.25.3
Leases - Summary of Amounts Included in the Condensed Consolidated Statement of Financial Position (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Assets:    
Operating lease assets $ 26,429 $ 30,561
Finance lease assets $ 7,371 $ 7,927
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Total lease assets $ 33,800 $ 38,488
Liabilities:    
Current 6,699 6,597
Long-term 19,701 23,700
Total operating lease liabilities 26,400 30,297
Current 639 621
Long-term 7,512 7,994
Total finance lease liabilities 8,151 8,615
Total lease liabilities $ 34,551 $ 38,912
v3.25.3
Leases - Summary of Components of Lease Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Lessee Lease Description [Line Items]        
Lease, Cost, Total $ 2,823 $ 2,981 $ 10,430 $ 10,797
Cost of Sales [Member]        
Lessee Lease Description [Line Items]        
Total operating lease cost [1],[2] 1,819 1,713 5,447 7,062
Amortization expense 185 185 556 556
Selling, General and Administrative Expenses [Member]        
Lessee Lease Description [Line Items]        
Total operating lease cost [1],[3] 743 1,001 4,198 2,932
Interest Expense, Net [Member]        
Lessee Lease Description [Line Items]        
Interest expense on lease liabilities $ 76 $ 82 $ 229 $ 247
[1] Includes short-term leases and variable lease costs, which are immaterial
[2] Operating lease costs included in Cost of sales for the nine months ended September 30, 2024, include a $1.8 million termination charge related to exiting an idled lease facility, as described in Note 4
[3] Operating lease costs included in Selling, general and administrative for the nine months ended September 30, 2025 include $1.6 million in termination charges related to exiting idled lease facilities, as described in Note 4
v3.25.3
Leases - Summary of Components of Lease Expense (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Lessee, Lease, Description [Line Items]          
Restructuring charges $ 3,218 $ 2,033 $ 9,663 $ 5,252  
Contract Termination [Member]          
Lessee, Lease, Description [Line Items]          
Restructuring charges     1,600    
Ameri-Kart [Member]          
Lessee, Lease, Description [Line Items]          
Restructuring charges       2,300  
Ameri-Kart [Member] | Contract Termination [Member]          
Lessee, Lease, Description [Line Items]          
Restructuring charges     $ 1,600 $ 1,800 $ 1,800
v3.25.3
Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases $ 7,750 $ 6,117
Operating cash flows from finance leases 229 247
Financing cash flows from finance leases 464 442
Right-of-use assets obtained in exchange for new lease liabilities:    
Operating leases 2,345 5,218
Finance leases $ 0 $ 0
v3.25.3
Leases - Summary of Lease Term and Discount Rate (Details)
Sep. 30, 2025
Dec. 31, 2024
Lessee Disclosure [Abstract]    
Weighted-average remaining lease term (years), operating leases 4 years 5 months 15 days 4 years 11 months 4 days
Weighted-average remaining lease term (years), finance leases 10 years 3 months 3 days 11 years
Weighted-average discount rate, operating leases 6.30% 6.30%
Weighted-average discount rate, finance leases 3.70% 3.70%
v3.25.3
Leases - Maturity of Lease Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Operating And Finance Lease Liability Payments Due [Abstract]    
Operating Leases, 2025 [1] $ 2,050  
Operating Leases, 2026 8,023  
Operating Leases, 2027 6,803  
Operating Leases, 2028 5,239  
Operating Leases, 2029 3,661  
Operating Leases, After 2029 4,138  
Total operating lease payments 29,914  
Less: interest (3,514)  
Present value of operating lease liabilities 26,400 $ 30,297
Finance Leases, 2025 [1] 231  
Finance Leases, 2026 924  
Finance Leases, 2027 945  
Finance Leases, 2028 950  
Finance Leases, 2029 950  
Finance Leases, After 2029 5,758  
Total finance lease payments 9,758  
Less: interest (1,607)  
Present value of finance lease liabilities 8,151 $ 8,615
2025 [1] 2,281  
2026 8,947  
2027 7,748  
2028 6,189  
2029 4,611  
After 2029 9,896  
Total lease payments 39,672  
Less: interest (5,121)  
Present value of lease liabilities $ 34,551  
[1] Represents amounts due in 2025 after September 30, 2025
v3.25.3
Segments - Additional Information (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
Segment
Sep. 30, 2024
USD ($)
Segment Reporting Information [Line Items]        
Number of operating segments | Segment     2  
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]     srt:ChiefExecutiveOfficerMember  
Net sales $ 205,435 $ 205,067 $ 621,768 $ 632,405
Foreign Countries [Member]        
Segment Reporting Information [Line Items]        
Net sales $ 14,500 $ 14,000 $ 41,100 $ 35,900
v3.25.3
Segments - Schedule of Company's Operations by Segment, Including Revenue by Major Market (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]          
Net sales $ 205,435 $ 205,067 $ 621,768 $ 632,405  
Cost of sales 136,865 139,937 413,458 427,489 [1]  
Selling, general and administrative expenses 44,426 38,486 [2],[3],[4] 132,551 [5],[6] 129,747 [2],[3],[4]  
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 0 22,016 [7] 0 22,016 [7]  
Operating income (loss) [8] 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  
Total assets 864,071 904,999 864,071 904,999 $ 860,815
Capital additions, net 4,245 7,178 15,935 17,302  
Depreciation and amortization [9] 10,229 10,739 31,273 30,078  
Industrial [Member]          
Segment Reporting Information [Line Items]          
Net sales 66,774 64,771 192,336 179,472  
Infrastructure [Member]          
Segment Reporting Information [Line Items]          
Net sales 27,276 20,736 84,309 71,791  
Vehicle [Member]          
Segment Reporting Information [Line Items]          
Net sales 21,943 24,839 73,013 83,621  
Consumer [Member]          
Segment Reporting Information [Line Items]          
Net sales 20,174 24,388 67,118 74,254  
Food and Beverage [Member]          
Segment Reporting Information [Line Items]          
Net sales 17,301 15,949 52,790 59,724  
Auto Aftermarket [Member]          
Segment Reporting Information [Line Items]          
Net sales 51,967 54,384 152,202 163,543  
Operating Segments [Member] | Material Handling [Member]          
Segment Reporting Information [Line Items]          
Net sales 153,540 150,718 469,839 468,951  
Cost of sales 100,258 102,401 305,911 315,718 [1]  
Selling, general and administrative expenses 20,766 17,234 [2],[3],[4] 62,333 [5],[6] 59,652 [2],[3],[4]  
Depreciation and amortization 3,499 3,914 10,510 10,788  
Freight out 2,332 4,072 7,461 8,733  
(Gain) loss on disposal of fixed assets 112 195 198 201  
Impairment charges [7]   22,016   22,016  
Operating income (loss) [8] 26,573 886 83,426 51,843  
Total assets 704,301 752,137 704,301 752,137  
Capital additions, net 4,194 6,995 15,353 15,666  
Depreciation and amortization [9] 8,769 9,158 26,644 25,706  
Operating Segments [Member] | Material Handling [Member] | Industrial [Member]          
Segment Reporting Information [Line Items]          
Net sales 66,846 64,806 192,609 179,561  
Operating Segments [Member] | Material Handling [Member] | Infrastructure [Member]          
Segment Reporting Information [Line Items]          
Net sales 27,276 20,736 84,309 71,791  
Operating Segments [Member] | Material Handling [Member] | Vehicle [Member]          
Segment Reporting Information [Line Items]          
Net sales 21,943 24,839 73,013 83,621  
Operating Segments [Member] | Material Handling [Member] | Consumer [Member]          
Segment Reporting Information [Line Items]          
Net sales 20,174 24,388 67,118 74,254  
Operating Segments [Member] | Material Handling [Member] | Food and Beverage [Member]          
Segment Reporting Information [Line Items]          
Net sales 17,301 15,949 52,790 59,724  
Operating Segments [Member] | Material Handling [Member] | Auto Aftermarket [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member]          
Segment Reporting Information [Line Items]          
Net sales 51,967 54,384 152,202 163,543  
Cost of sales 36,679 37,571 107,820 111,860 [1]  
Selling, general and administrative expenses 14,123 13,686 [2],[3],[4] 42,629 [5],[6] 43,809 [2],[3],[4]  
Depreciation and amortization 632 738 2,074 2,199  
Freight out 180 260 656 709  
(Gain) loss on disposal of fixed assets (487) (2) (99) 51  
Impairment charges [7]   0   0  
Operating income (loss) [8] 840 2,131 (878) 4,915  
Total assets 96,458 105,816 96,458 105,816  
Capital additions, net 98 7 470 1,069  
Depreciation and amortization [9] 732 823 2,368 2,426  
Operating Segments [Member] | Distribution [Member] | Industrial [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member] | Infrastructure [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member] | Vehicle [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member] | Consumer [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member] | Food and Beverage [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Operating Segments [Member] | Distribution [Member] | Auto Aftermarket [Member]          
Segment Reporting Information [Line Items]          
Net sales 51,967 54,384 152,202 163,543  
Corporate [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Cost of sales 0 0 0 0 [1]  
Selling, general and administrative expenses 9,537 7,566 [2],[3],[4] 27,589 [5],[6] 26,286 [2],[3],[4]  
Depreciation and amortization 187 216 641 628  
Freight out 0 0 0  
(Gain) loss on disposal of fixed assets 0 (1) 0 1  
Impairment charges [7]   0   0  
Operating income (loss) [8] (9,724) (7,781) (28,230) (26,915)  
Total assets 63,312 47,046 63,312 47,046  
Capital additions, net (47) 176 112 567  
Depreciation and amortization [9] 728 758 2,261 1,946  
Corporate [Member] | Industrial [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Corporate [Member] | Infrastructure [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Corporate [Member] | Vehicle [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Corporate [Member] | Consumer [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Corporate [Member] | Food and Beverage [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Corporate [Member] | Auto Aftermarket [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Inter-company sales [Member]          
Segment Reporting Information [Line Items]          
Net sales (72) (35) (273) (89)  
Cost of sales (72) (35) (273) (89) [1]  
Selling, general and administrative expenses 0 0 [2],[3],[4] 0 [5],[6] 0 [2],[3],[4]  
Depreciation and amortization 0 0 0 0  
Freight out 0 0 0 0  
(Gain) loss on disposal of fixed assets 0 0 0 0  
Impairment charges [7]   0   0  
Operating income (loss) [8] 0 0 0 0  
Total assets 0 0 0 0  
Capital additions, net 0 0 0 0  
Depreciation and amortization [9] 0 0 0 0  
Inter-company sales [Member] | Industrial [Member]          
Segment Reporting Information [Line Items]          
Net sales (72) (35) (273) (89)  
Inter-company sales [Member] | Infrastructure [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Inter-company sales [Member] | Vehicle [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Inter-company sales [Member] | Consumer [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Inter-company sales [Member] | Food and Beverage [Member]          
Segment Reporting Information [Line Items]          
Net sales 0 0 0 0  
Inter-company sales [Member] | Auto Aftermarket [Member]          
Segment Reporting Information [Line Items]          
Net sales $ 0 $ 0 $ 0 $ 0  
[1]

(5) The Company recognized $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the nine months ended September 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3.
[2]

(6) The Company incurred $0.3 million and $4.4 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter and nine months ended September 30, 2024, of which $0.3 million and $4.1 million are included in Corporate for the quarter and nine months ended September 30, 2024, respectively and $0.3 million is included in Material Handling's results for the nine months ended September 30, 2024.
[3]

(1) The Company recognized $(0.5) million and $(0.7) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter and nine months ended September 30, 2024, respectively, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.
[4] (8) The Company recognized $1.4 million of executive severance which is included in Corporate's results for the quarter and nine months ended September 30, 2024.
[5]

(3) During the nine months ended September 30, 2025, the Company recognized a $1.6 million pre-tax pension settlement charge within the Material Handling segment, as described in Note 1.

[6]

(4) The Company recognized a $3.2 million recovery of purchased credit deteriorated assets for the nine months ended September 30, 2025, as described in Note 3. The recovery was recognized as a reduction to bad debt expense included in Selling, general and administrative within the Material Handling segment.
[7]

(9) The Company recognized $22.0 million of non-cash impairment charges, as described in Note 7, for the quarter and nine months ended September 30, 2024, which are included in Material Handling's results.
[8]

(2) The Company incurred $3.2 million and $9.7 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2025, of which $1.5 million and $2.6 million are included in Material Handling, $0.1 million and $3.1 million are included in Distribution and $1.7 million and $4.0 million are included with Corporate's results, respectively. The Company incurred $2.0 million and $5.3 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and nine months ended September 30, 2024, of which $1.4 million and $3.9 million are included in Material Handling and $0.2 million and $1.0 million are included in Distribution's results, respectively and $0.4 million is included in Corporate's results, for the quarter and nine months ended September 30, 2024.
[9]

(7) Total depreciation and amortization inclusive of amounts within Cost of sales. Corporate depreciation and amortization includes amortization of deferred financing costs of $0.5 million and $0.5 million for the quarters ended September 30, 2025 and 2024, respectively, and $1.6 million and $1.3 million for the nine months ended September 30, 2025 and 2024, respectively.
v3.25.3
Segments - Schedule of Company's Operations by Segment, Including Revenue by Major Market (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]          
Expense (income) from changes to estimated environmental reserve     $ (500)   $ (700)
Non cash inventory         4,500
Acquisition related costs     300   4,400
Amortization of deferred financing costs       $ 1,621 1,318
Restructuring costs $ 3,200   2,000 9,700 5,300
Pre-tax pension settlement charge   $ 1,600      
Recovery of purchased credit deteriorated assets       3,200  
Material Handling [Member]          
Segment Reporting Information [Line Items]          
Impairment charges     22,000   22,000
Acquisition related costs         300
Restructuring costs 1,500   1,400 2,600 3,900
Pre-tax pension settlement charge       1,600  
Distribution [Member]          
Segment Reporting Information [Line Items]          
Restructuring costs 100   200 3,100 1,000
Corporate [Member]          
Segment Reporting Information [Line Items]          
Executive severance cost     1,400   1,400
Acquisition related costs     300   4,100
Restructuring costs 1,700   400 $ 4,000 $ 400
Corporate [Member]          
Segment Reporting Information [Line Items]          
Amortization of deferred financing costs $ 500   $ 500