Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q1 2019 Earnings Presentation
16 slides from Myers Industries's earnings presentation, May 8, 2019
Slide 1: First Quarter 2019 Earnings Presentation
MYERS INDUSTRIES, INC. First Quarter 2019 Earnings Presentation 21 54 91 142 184 230 56 67 73 Font Color Exhibit 99.2
Slide 2: Safe Harbor Statement & Non-GAAP Measures
Safe Harbor Statement & Non-GAAP Measures Statements in this presentation include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed “forward-looking”. Words such as “expect”, “believe”,
Slide 3: 2019 Q1 Overview
2019 Q1 Overview Challenges Achievements Distribution transformation on track; sales increased year-over-year for second consecutive quarter Double-digit increase in sales to food processing customers within our Food & Beverage end market New SmartControl product launched at Scepter drove mid-single
Slide 4: Q1 Financial Summary
Q1 Financial Summary Operating Highlights Net sales down 8.8%, compared to Q1 2018 Material Handling down $13.9M (-11.9%) Distribution up $0.4M (+1.1%) Adj. gross profit margin expanded to 32.9% from 31.0% Favorable price-cost margin offset lower volume and unfavorable sales mix Productivity savings
Slide 5: Q1 Segment Results
Q1 Segment Results Material Handling Segment Highlights Net sales down 11.9% vs. Q1 2018 Consumer end market up low-single-digits due primarily to incremental sales from new SmartControl fuel containers Food & Beverage end market down double-digits due primarily to lower seed box sales (unusually hi
Slide 6: Balance Sheet and Cash Flow
Working Capital as a % of TTM Sales Balance Sheet and Cash Flow Cash Flow ($M) and Cash Flow as % of Sales Total Debt ($M) and Debt to Adj. EBITDA Operating Cash Flow Free Cash Flow (FCF) 1.7% 7.6% 3.8% 8.4% 2.3x Q1 Highlights Free cash flow generation of $2.4M, a decrease vs. prior year Higher vari
Slide 7: 2019 Fiscal Year Outlook
2018 2019 Operating Framework Mid-single digits Mid- teens Mid-single digits Low-single digits Low-to-mid- single digits Expecting decline from unusually high demand in 2018 and competitive pressure; anticipating increased sales to food processing customers Growth from new product launch and market
Slide 8: 2019 Guidance
2019 Guidance Net sales growth:~ Flat D&A: ~ $25M Net interest expense:~ $5M Effective tax rate (normalized):~ 27% Diluted share count:~ 36M Diluted EPS:$0.70 - $0.80 Adjusted diluted EPS: $0.75 - $0.85 Capital expenditures: ~ $10M Reaffirms 2019 Guidance
Slide 9: Appendix
Appendix
Slide 10: Reconciliation of Non-GAAP Measures: Gross Profit, Operating Income and EBITDA
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands)
Slide 11: Reconciliation of Non-GAAP Measures: Gross Profit, Operating Income and EBITDA
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands)
Slide 12: Reconciliation of Non-GAAP Measures: Income and Earnings Per Diluted Share
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME AND EARNINGS PER DILUTED SHARE (UNAUDITED) (Dollars in thousands, except per share data)
Slide 13: Reconciliation of Free Cash Flow to Operating Activities
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF FREE CASH FLOW TO GAAP NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES – CONTINUING OPERATIONS (UNAUDITED) (Dollars in thousands)
Slide 14: Reconciliation of Non-GAAP Measures: Adjusted EBITDA and Debt
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED EBITDA AND DEBT (UNAUDITED) (Dollars in thousands)
Slide 15: Reconciliation of Non-GAAP Measures: Working Capital
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES WORKING CAPITAL (UNAUDITED) (Dollars in thousands)
Slide 16: Slide 16