Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q3 2013 Earnings Presentation
15 slides from Myers Industries's earnings presentation, Oct 24, 2013
Slide 1: Earnings Presentation Third Quarter 2013
Exhibit 99.3 October 24, 2013 Earnings Presentation Third Quarter 2013
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: Private Placement of Debt
Private Placement of Debt • Note purchase agreement for private placement of notes totaling $100M signed October 22, 2013 with a group of institutional investors • Senior unsecured notes will be funded in December 2013 and January 2014 in four series: • $40,000,000 4.67% Senior Notes, Series A, due
Slide 4: Highlights
Highlights • Agreement for $100M of private placement notes providing financial flexibility for funding growth and repaying debt • Q3 net sales decline of 1.2% due to a number of small market factors • Adjusted EPS of $0.25 vs. $0.20 in Q3 2012, a 25% increase • Earnings benefited from productivity
Slide 5: Third Quarter 2013 Financial Summary
Third Quarter 2013 Financial Summary Q3 Q3 • Net sales declined 1.2% due to a Highlights 2013 2012 B/(W) number of factors including: Net sales $194.9 $197.3 (1.2%) • Poor tomato crop that impacted the Material Handling Segment Gross food processing sales profit • Delay in orders to Q4 in the Lawn m
Slide 6: Third Quarter 2013 Financial Summary
Third Quarter 2013 Financial Summary Nine Months Ended Nine Months Ended Cash September 30, September 30, Highlights 2013 2012 Cash provided by operations $46.8 $23.3 Capital expenditures $20.0 $15.2 Free cash flow $26.8 $8.1 Dividends $6.0 $7.6 Balance Sheet September 30, December 31, Highlights 20
Slide 7: Segment Review – Material Handling
Segment Review Material – Handling $ Millions Net Sales Q3 Results $80 • Incremental sales from the Jamco acquisition were more $76.2 $76.0 than offset by a sales decrease $75 that was driven by lower than anticipated food processing sales $70 Q3 2012 Q3 2013 EBIT A - djusted $15 $12.5 $10.7 • The l
Slide 8: Segment Review – Lawn & Garden
Segment Review Lawn – & Garden $ Millions Net Sales Q3 Results $48 • A delay in customer orders to the fourth quarter $45 $45.3 $44.9 resulted in lower sales as compared to last year $42 Q3 2012 Q3 2013 • Phase one restructuring EBIT -Adjusted savings in addition to $5 productivity gains and materia
Slide 9: Segment Review – Distribution
Segment Review Distribution – $ Millions Net Sales Q3 Results $50 • New product sales offset lower international sales $45.1 $45.0 volumes during the $45 quarter $40 Q3 2012 Q3 2013 EBIT -Adjusted $5 • A favorable product mix $3.4 $4.3 and lower SG&A expenses led to the increase in adjusted EBIT $0
Slide 10: Segment Review – Engineered Products
SegmentReview– EngineeredProducts $ Millions Q3 Results Net Sales $40 • Lower custom sales resulting from a focus on $35.7 more profitable business $35 $33.8 led to the decline in sales $30 Q3 2012 Q3 2013 • Productivity EBIT -Adjusted improvements and $5 $3.7 material cost savings $3.5 substantiall
Slide 11: Fourth Quarter 2013 Outlook
Fourth Quarter 2013 Outlook Q4 Outlook • Material Handling • Anticipate that sales will be comparable to last year • Lawn & Garden • Sales of new products combined with normal seasonal orders should result in overall stronger sales • Productivity, material cost savings and phase one restructuring sa
Slide 12: Appendix
Appendix 12
Slide 13: 2013 Reconciliation of Non-GAAP Measures
2013 Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED) (Dollars in millions, except per share data) Quarter Ended Nine Months Ended September 30 September 30 2013 2012 2013 2012 Material Handling
Slide 14: Market Indicators
Market Indicators Material Handling Lawn & Garden Housing Starts MHEM Index Consumer Sentiment Source: US Census and National Association of Home Builders (NAHB), September 2013; Source: Material Handling Industry Aug 2013 Forecast Thomson Reuters/University of Michigan, September 2013 Distribution
Slide 15: Slide 15