Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q2 2017 Earnings Presentation
16 slides from Myers Industries's earnings presentation, Aug 1, 2017
Slide 1: Second Quarter Earnings Presentation
Exhibit 99.2 MYERS INDUSTRIES, INC. AUGUST1, 2017 – SECONDQUARTER EARNINGS PRESENTATION
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: 2017 Q2 Overview
2017 Q2 OVERVIEW Achievements Challenges Generated $8.7M in free cash flow; continued - Distribution execution remains challenging working capital discipline and timing of capital • Mixed market conditions; slow start to spending the quarter • Exit of low margin business Niche market focus led to ye
Slide 4: Q2 Financial Summary – GAAP
Q2 FINANCIAL SUMMARY – GAAP REFLECTS RESULTS OPERATIONS; $ FROMCONTINUING INMILLIONSEXCEPT PER-SHARE FIGURES Net Sales Gross Profit % Sales Q2 2017 $142.3 Q2 2017 $39.3 27.6% Q2 2016 $144.1 Q2 2016 $44.5 30.9% Net sales declined 1.3% Gross profit declined $5.2M • Material Handling up $2M (2.1%) due
Slide 5: Q2 Financial Summary – Adjusted (Non-GAAP)
Q2 FINANCIAL SUMMARY – ADJUSTED (NON-GAAP) REFLECTS RESULTS OPERATIONS; $ FROMCONTINUING INMILLIONSEXCEPT PER-SHARE FIGURES Net Sales Adj. Gross Profit % Sales Q2 2017 $142.3 Q2 2017 $43.4 30.5% Q2 2016 $144.1 Q2 2016 $44.5 30.9% Net sales declined 1.3% Adj. gross profit decreased $1.1M • Material H
Slide 6: Q2 Segment Results
Q2 SEGMENT RESULTS REFLECTS RESULTS OPERATIONS; $ FROMCONTINUING INMILLIONSEXCEPT PER-SHARE FIGURES Material Handling Distribution Net Sales Net Sales Q2 2017 $103.1 Q2 2017 $39.3 Q2 2016 $100.9 Q2 2016 $43.2 Net sales increased 2.1% Net sales declined 9.2% • Sales to the Consumer market up mid-sing
Slide 7: Balance Sheet & Cash Flow
BALANCE SHEET & CASH FLOW BALANCE SHEET FREE CASH FLOW IN $MILLIONS IN $MILLIONS Q2 2017 Q4 2016 YTD 2017 YTD 2016 Cash $ 4.7 $ 7.9 Cash from Continuing Operations$ 23.6 $ (3.1) Debt 170.1 189.5 Capital Expenditures (2.3) (10.6) Net Debt $ 165.4 $ 181.6 Free Cash Flow $ 21.3 $ (13.6) LTM Adjusted EB
Slide 8: 2017 Outlook and Strategic Update
2017 OUTLOOK AND STRATEGIC UPDATE % of Net 2017 Growth » Holding to prior outlook Outlook Sales 2016 » FY revenue expected to be flat Mid single CONSUMER » Progress with niche market growth 12% digits teams: VEHICLE High single • Share gains in several niche markets 16% digits • Strong funnel of opp
Slide 9: Appendix
APPENDIX YERS
Slide 10: 2017 Key Assumptions
2017 KEY ASSUMPTIONS » Net Sales: Flat (ex-currency) » Capital expenditures: $10 -$12 million » Net interest expense: $8 -$9 million » D&A: $32 -$34 million » Effective tax rate (normalized):36% 10
Slide 11: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED GROSS PROFIT (UNAUDITED) (Dollars in thousands) For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Gross profit as reported $
Slide 12: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (Dollars in thousands) For the Three Months Ended For the Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30,
Slide 13: 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 thousands, except per share data) Quarter Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Material Handling Operating in
Slide 14: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES COMBINED STATEMENTS OF INCOME (UNAUDITED) (Dollars in thousands) Quarter Ended TTM 9/30/2016 12/31/2016 3/31/2017 6/30/2017 6/30/2017 Net Income as Reported Continuing Operations $ 424 $ (1,247)
Slide 15: Reconciliation of Non-GAAP Measures
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) YTD YTD QTD June 30, 2017 March 31, 2017 June 30, 2017 Net cash provided by (used for) o
Slide 16: Slide 16