Myers Industries, Inc. · NYSE:MYE
Myers Industries — Gabelli Funds 48th Annual Automotive Symposium 2024
25 slides from Myers Industries's conference presentation, Nov 4, 2024
Slide 1: Gabelli Funds 48th Annual Auto Symposium
Gabelli Funds 48th Annual Auto Symposium November 4, 2024
Slide 2: Today’s Speakers
Today’s Speakers Dave Basque Grant Fitz Interim President and Chief Executive Officer Executive Vice President and Chief Financial Officer Meghan Beringer Sr. Director, Investor Relations 1293 S. Main Street, Akron, Ohio 44301 Tel: (330) 808-2885 mberinger@myersind.com www.myersind.com 2
Slide 3: Safe Harbor Statement & Non-GAAP Measures
Safe Harbor Statement & Non-GAAP Measures Statements in this presentation contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including information regarding the Company’s financial outlook, future plans,
Slide 4: Company Highlights
Company Highlights $824M #1 and #2 Position in Diverse, Revenue Niche Markets $117M ~2,700 Adjusted EBITDA Employees 14% 10 Adjusted EBITDA Strong Brands Margin Note: All data trailing twelve months as of September 30, 2024. See appendix for non-GAAP reconciliations. 4
Slide 5: Our Strategic Lens
Our Strategic Lens Grow Maximize Value Material Handling Segment Distribution Segment Storage, Handling Engineered Automotive & Protection Solutions Aftermarket Branded, high-performance Designed and tailored solutions High quality repair and products that move, store and that meet our customers’ re
Slide 6: 2024 Progress – Third Quarter
2024 Progress – Third Quarter Maximize Grow Value Storage, Handling & Engineered Automotive Protection Solutions Aftermarket Material Handling Segment Distribution Segment ❑ Continued strong growth in Infrastructure and Military ❑ Appointed a new leadership team for Distribution with the end-markets
Slide 7: Expanding our Market Reach
Expanding our Market Reach ❑ Given their ability to float, mats were used by our customers to support recent storm restoration efforts ❑ Expanding customer base with new customers contributing over 20% of revenue in 2024 7
Slide 8: Expanding our Market Reach
Expanding our Market Reach Military End Market Revenue Powered Fueling Station Well positioned for long term, double-digit Prestigious 2024 Pro Tool Innovation growth in the Military end market Award Winner $40M $25M $10M 2023 2024 Projected Actual Forecast 2025 8
Slide 9: Material Conversion
Material Conversion Driving material substitution to a better solution 9
Slide 10: Food Conversion – Storage, Handling & Protection
Food Conversion – Storage, Handling & Protection Value created by driving Material Substitution to a better solution Food & Beverage Ingredients Intrepid IBC Corrugated Gaylord & Wood Pallet • Reusable 10 years + • Easy Clean, FDA Compliant PP • <18 month payback 10
Slide 11: Chemical Conversion – Storage, Handling & Protection
Chemical Conversion – Storage, Handling & Protection Value created by driving Material Substitution to a better solution Chemicals & Hazardous Materials Tuff Series IBC Composite IBC / Bottle-in-Cage • Consistent Quality • Cost & Waste Reduction • All Plastic • UN / DOT Compliant 11
Slide 12: Organization Conversion – Storage, Handling & Protection
Organization Conversion – Storage, Handling & Protection Value created by driving Material Substitution to a better solution Industrial Stockroom AkroBin Cardboard Disposable Shippers • Reduce Out-of-Stocks / Increase Turns • 60lb capacity • Poka Yoke / Kanban Enablement 12
Slide 13: Military Conversion – Storage, Handling & Protection
Military Conversion – Storage, Handling & Protection Value created by driving Material Substitution to a better solution Military Ammunition Scepter Military Steel / Wood • Heavy Duty Plastic • 17%-35% Lighter • Weather / Impact Resistant • UN / NATO Qualified 13
Slide 14: Outdoor Conversion – Storage, Handling & Protection
Outdoor Conversion – Storage, Handling & Protection Value created by driving Material Substitution to a better solution Traditional Wooden Dock Connect-a-Dock Wood / Steel • High Customization • Easy Install / Low Maintenance • Strong & Durable 14
Slide 15: Innovation – Storage, Handling & Protection
Innovation – Storage, Handling & Protection Scepter Flo ‘n Go Powered Fueling Station ❑ Convenience of a gas pump at home or on the job Target Audiences ❑ Pro User / Small Landscape Company ❑ DIYer ❑ Power Sports Enthusiasts Features/Benefits ❑ Simple, intuitive controls ❑ Powered on-the-go with A
Slide 16: Commitment Moving Forward
Commitment Moving Forward ❑ Executing on our long-term strategy ❑ Delivering on our further commitment to implement $15M of new annualized costs savings to help mitigate end market headwinds ❑ Stabilizing the Distribution business ❑ Increasing our participation in attractive, high growth end markets
Slide 17: Appendix
Appendix
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands) Quarter Ended September 30, 2024 Material Corporate & Handling Distribution Segment Total Other Total Net sales $ 150,
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands) Quarter Ended September 30, 2023 Material Corporate & Handling Distribution Segment Total Other Total Net sales $ 132,
Slide 20: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures TTM adjusted EBITDA ($M) TTM* Net sales - continuing operations $ 823.5 Net income (loss) from continuing operations $ 15.4 Net income margin 2% Income tax expense (benefit) 8.5 Interest expense, net 24.6 Operating Income (loss) $ 48.4 Depreciation and amortizatio
Slide 21: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED OPERATING INCOME, ADJUSTED EBITDA AND FREE CASH FLOW (UNAUDITED) (Dollars in thousands) Quarter Ended September 30, 2024 2023 Adjusted operating income (loss) reconciliation: Operating i
Slide 22: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER DILUTED SHARE (UNAUDITED) (Dollars in thousands, except per share data) Quarter Ended September 30, 2024 2023 Adjusted net income (loss) reconciliati
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES WORKING CAPITAL (UNAUDITED) (Dollars in thousands) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Net sales $ 212,840 $ 215,739 $ 208,453 $ 197,798 $ 191,077 $ 207,102 $ 220,236
Slide 24: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GUIDANCE FOR FULL YEAR ADJUSTED EARNINGS PER DILUTED SHARE (UNAUDITED) Full Year 2024 Guidance Low High GAAP diluted net income per common share $0.11 $0.21 Add: Net restructuring expenses and ot
Slide 25: Meghan Beringer
Meghan Beringer Senior Director Investor Relations Myers Industries, Inc. 1293 S. Main Street, Akron, Ohio 44301 Tel: (330) 808-2885 mberinger@myersind.com www.myersind.com 25
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