Myers Industries, Inc. · NYSE:MYE
Myers Industries — FY2012 Earnings Presentation
21 slides from Myers Industries's earnings presentation, Feb 13, 2013
Slide 1: Earnings Presentation: Fourth Quarter & Full Year 2012
Exhibit 99.2 February 13, 2013 Earnings Presentation Fourth Quarter & Full Year 2012
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation concerning the Company’s goals, strategies, and expectations for business and financial results may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current indicators and
Slide 3: Full Year 2012 Highlights
Full Year 2012 Highlights • Achieved 40% increase in adjusted EPS • $0.94 compared to $0.67 in 2011 • Completed two strategic acquisitions which were accretive • Novel & Jamco • As part of Innovation initiative more than 40 new products and services were introduced (see next slide for examples) • 6%
Slide 4: New Products in 2012
New Products in 2012 360 Cell Plug Tray Lean Panel - Industry First 18” Deep Sloped Decorative Louvered Panel Pick Rack Containers Bin Clip (Patented) New Sizes Co-Ex Pots & Trays Slope-It Water Based Bin Insert Tread Cement True Size Nursery Containers Tilt-View Electronic Testing Equipment for Tru
Slide 5: Full Year 2012 Financial Summary
Full Year 2012 Financial Summary P&L FY FY • Sales increased 4.7% Highlights 2012 2011 B/(W) • Strategic initiative centered on Net sales $791.2 $755.7 4.7% Innovationgenerated6% of total sales Gross • Novel acquisition contributed margin 27.2% 26.2% 3.9% to sales increase in Material Handling SG&A
Slide 6: Full Year 2012 Financial Summary
Full Year 2012 Financial Summary Twelve Months Ended Twelve Months Ended Cash December 31, December 31, Highlights 2012 2011 Free Cash Flow $33.8 $42.2 Capital expenditures $27.0 $21.9 Dividends $13.0 $9.5 Balance Sheet December 31, December 31, Highlights 2012 2011 Long-term debt (less current port
Slide 7: Segment Review – Material Handling
SegmentReview– Material Handling $ Millions Net Sales FY Results $290 $286.0 • Sales increase of 9% due $280 mostly to Novel & Jamco $270 $261.8 acquisitions and sales of $260 $250 new products $240 Full Year 2011 Full Year 2012 EBIT A - djusted • Increased sales and $50 $47.7 Operations Excellence
Slide 8: Segment Review – Lawn & Garden
SegmentReview– Lawn& Garden $ Millions Net Sales FY Results $219 $217.1 • Sales decline a result of: $216 • Customers depleting $213 $210 inventory and limiting $207 $205.8 production during 2012 $204 planting season $201 $198 • Delay in customer demand Full Year 2011 Full Year 2012 from Q4 2012 to
Slide 9: Segment Review – Distribution
SegmentReview– Distribution $ Millions Net Sales FY Results $185 $183.7 • A decline in replacement $180 tire shipments combined $176.6 with lower equipment $175 sales led to decreased $170 sales Full Year 2011 Full Year 2012 EBIT A - djusted $18 • Lower sales led to $17.0 decrease in adjusted $15 $1
Slide 10: Segment Review – Engineered Products
SegmentReview– EngineeredProducts $ Millions Net Sales FY Results $150 $135 $141.7 $116.2 $120 • Strong sales in all end- $105 $90 markets generated 22% $75 $60 $45 increase in sales $30 $15 $0 Full Year 2011 Full Year 2012 • Higher sales led to the $18 EBIT A - djusted $15.7 increase in adjusted EB
Slide 11: Q4 2012 Financial Highlights
Q42012FinancialHighlights P&L Q4 Q4 • Sales increased 11.1% Highlights 2012 2011 B/(W) • Very strong sales in Net sales $214.0 $192.5 11.1% Material Handling more than offset sales decreases Gross in the other three margin 26.7% 27.0% -0.8% segments SG&A $42.2 $41.8 -1.0% • Gross margin decreased Ne
Slide 12: Segment Review – Material Handling
SegmentReview– Material Handling $ Millions Net Sales Q4 Results $84.4 $90 • Delay in shipments from $80 earlier in the year to the $70 $57.0 $60 fourth quarter along with $50 $40 sales from Novel & Jamco $30 acquisitions led to 48% $20 $10 increase in sales $0 Q4 2011 Q4 2012 • Higher sales combine
Slide 13: Segment Review – Lawn & Garden
SegmentReview– Lawn& Garden $ Millions Net Sales Q4 Results $65 • Shift in customer demand $62 $62.3 from Q4 2012 to Q1 2013 $59 $58.8 led to sales decrease $56 during the quarter $53 $50 Q4 2011 Q4 2012 • Income decline from lower sales was more than offset EBIT A - djusted by productivity efficien
Slide 14: Segment Review – Distribution
Segment Review Distribution – $ Millions Net Sales Q4 Results $50 • Continued and stronger $47.2 decline in replacement $45 $44.7 tire shipments resulted in sales decrease during $40 the quarter Q4 2011 Q4 2012 EBIT A - djusted $6 • Sales decrease led to the $4.7 decrease in adjusted $3 $3.2 EBIT $0
Slide 15: Segment Review – Engineered Products
Segment Review Engineered – Products $ Millions Net Sales Q4 Results $35 • Sales increases in RV and $31.1 $30.1 $30 marine were more than $25 offset by a decline in sales of custom products $20 Q4 2011 Q4 2012 during the quarter EBIT A - djusted $5 • Sales decrease led to $2.9 $2.4 decline in adjus
Slide 16: Lawn & Garden Update
Lawn & Garden Update • Announcing internal project to drive out costs, increase productivity and improve profitability • Anticipated to yield annual savings of approximately $5 million by 2014 • Addresses sub-segments of the business individually • Nursery –various cost reduction efforts to improve
Slide 17: Q1 & Full Year 2013 Outlook
Q1 & Full Year 2013 Outlook Q1 Outlook • Material Handling • Seasonality in Brazil will unfavorably impact the quarter • Lawn & Garden • Solid order activity quarter-to-date on top of the delay in customer demand from Q4 2012 to Q1 2013 should benefit the quarter • Distribution • Anticipate capturin
Slide 18: Appendix
Appendix 18
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED) (Dollars in millions) Quarter Ended Twelve Months Ended December 31 December 31 2012 2011 2012 2011 Material Handling Income before taxes as repo
Slide 20: Market Indicators
Market Indicators Material Handling Lawn & Garden Housing Starts MHEM Index Consumer Sentiment Source: Material Handling Industry Jan 2013 Forecast Source: National Association of Home Builders (NAHB); Dec 2012 Thomson Reuters/University of Michigan Distribution Engineered Products Miles Driven RVIA
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