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AKRON Myers Industries Inc. s automotive aftermarket supply business reported a 16.6% increase in revenue in the first quarter, to $44.6 million, due to increased sales of both supplies and equipment.
The business unit which consists primarily of
Tuffy Manufacturing reported adjusted operating income increased 5.3% to $2 million, or 4.5% of sales.
Myers attributed the improvement primarily to the higher sales volume, which was offset partially by an unfavorable sales/mix, an unfavorable price-to-cost relationship and higher incentive-compensation costs.
Overall, Myers Industries sales for the quarter were up 42.7% to $174.4 million, driven primarily by the addition of $27.1 million in sales from Elkhart Plastics, which Myers acquired in November 2020.