Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q2 2016 Earnings Presentation
14 slides from Myers Industries's earnings presentation, Aug 3, 2016
Slide 1: Second Quarter Earnings Presentation
Exhibit 99.2 AUGUST3, 2016 | MYERSINDUSTRIES, INC. SECOND QUARTER EARNINGS PRESENTATION
Slide 2: Safe Harbor Statement
SAFEHARBORSTATEMENT 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 e
Slide 3: Q2 2016 Summary
Q2 2016 SUMMARY » Sales below expectations; solid margins due to operational discipline » Net sales $144.1M, a decrease of 12% to prior year » Organic (11%); currency (1%) » Difficult capital spending environment in several key markets » Gross margin +10 basis points to 30.9% » Lower input costs » P
Slide 4: Q2 GAAP Financial Summary
Q2 GAAP FINANCIAL SUMMARY IN $MILLIONSEXCEPT EPSANDPERCENTAGES Q2 Q2 CONTINUING OPERATIONS 2015 2016 NETSALES $ 164.3 $ 144.1 (11%) ORGANIC GROSSPROFIT $ 50.6 $ 44.5 GROSSMARGIN 30.8% 30.9% +10 BPS SG&A $ 30.8 $ 32.0 3.9% INCREASE IMPAIRMENTCHARGES $ 0.0 $ 1.3 OPERATING INCOME $ 19.7 $ 11.2 OPERATIN
Slide 5: Q2 Adjusted Financial Summary
Q2 ADJUSTED FINANCIALSUMMARY IN $MILLIONSEXCEPT EPSANDPERCENTAGES Q2 Q2 CONTINUING OPERATIONS 2015 2016 NETSALES $ 164.3 $ 144.1 (11%) ORGANIC GROSSPROFIT $ 50.6 $ 44.5 GROSSMARGIN 30.8% 30.9% +10 BPS ADJ. SG&A $ 33.4 $ 32.8 (1.8%) DECREASE ADJ.OPERATING INCOME $ 17.2 $ 11.7 OPERATING MARGIN 10.5% 8
Slide 6: Myers Industries, Inc.
MYERS INDUSTRIES, Inc.
Slide 7: Q2 2016 Segment Results
Q2 2016 SEGMENT RESULTS $ Millions $ Millions $140.0 25 $60.0 6 $115.8 $20.8 $48.6 $120.0 $50.0 $4.5 5 $100.9 20 $43.2 $100.0 $4.0 $18.3 $14.3 $40.0 4 $80.0 15 $30.0 3 $60.0 $13.3 10 $20.0 2 $40.0 5 $10.0 1 $20.0 $0.0 0 $0.0 0 Q2 2015 Q2 2016 Q2 2015 Q2 2016 Q2 2015 Q2 2016 Q2 2015 Q2 2016 Net Sales
Slide 8: 2016 Outlook and Strategic Update
2016 OUTLOOK AND STRATEGIC UPDATE PERCENT OF2015 SALES MYE 2016 GROWTH OUTLOOK Outlook CONSUMER » Lowering prior outlook; FY revenue expected LOWSINGLEDIGITS 12% to be down mid-to-high single digits » Capital spending in key end markets will VEHICLE LOWSINGLEDIGITS continue to be below prior year 13
Slide 9: Appendix
MYERS INDUSTRIES, Inc. APPENDIX
Slide 10: 2016 Key Assumptions
2016 KEYASSUMPTIONS » Capital expenditures: $15 -$18 million » Interest expense: $8 -$10 million » D&A: $35 -$37 million » Effective tax rate (normalized): 36% 10
Slide 11: Reconciliation of Non-GAAP Measures
RECONCILIATION OFNON-GAAP MEASURES MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (Dollars in thousands) Quarter Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Selling, general
Slide 12: Reconciliation of Non-GAAP Measures
RECONCILIATION OFNON-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 June30, Six Months Ended June30, 2016 2015 2016 2015 Material Handling Operating income
Slide 13: Reconciliation of Non-GAAP Measures
RECONCILIATION OFNON-GAAP MEASURES MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES COMBINED STATEMENTS OF INCOME (UNAUDITED) (Dollars in thousands) Quarter Ended TTM 30-Sep-14 31-Dec-14 31-Mar-15 30-Jun-15 30-Jun-15 Net Income as Reported Continuing Operations $ (3,618) $ 1,489
Slide 14: Myers Industries, Inc.
4 MYERS INDUSTRIES, inc: