Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q3 2017 Earnings Presentation
16 slides from Myers Industries's earnings presentation, Nov 7, 2017
Slide 1: Third Quarter Earnings Presentation
November 7, 2017 – Third Quarter Earnings Presentation MYERS INDUSTRIES, INC. Exhibit 99.2
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 Q3 Overview
2017 Q3 Overview Challenges Achievements Distribution showing progress, but at a slow rate Sales increased Q3 vs. Q2, but down mid single digits year-over-year Myers Tire Supply net sales were down ~1% year-over-year Patch Rubber net sales declined double digits due to the planned exit of a low marg
Slide 4: Q3 Financial Summary – GAAP
Q3 Financial Summary – GAAP % Sales 25.3% 24.6% % Sales 28.3% 27.1% % Sales 4.9% 2.3% Operating income increased $4.1M Gross profit higher $4.8M SG&A higher $3.8M Gain on asset sales $3.1M Net sales increased 8.6% Material Handling increased $14.2M (15.8%) due to growth in niche markets, partially o
Slide 5: Q3 Financial Summary – Adjusted (Non-GAAP)
Q3 Financial Summary – Adjusted (Non-GAAP) % Sales 24.7% 24.3% % Sales 29.6% 27.1% % Sales 4.9% 2.9% Adj. operating income increased $3.1M Higher gross profit $6.7M Higher SG&A $3.4M Net sales increased 8.6% Material Handling up $14.2M (15.8%) due to growth in niche markets, partially offset by decl
Slide 6: Q3 Segment Results
Q3 Segment Results Material Handling Distribution Adjusted $9.9 $4.7 $3.2 $3.3 GAAP Adjusted GAAP Reflects results from continuing operations; In $millions except per-share figures Net sales increased 15.8% Increased demand in Food & Beverage market led to double-digit growth year-over-year Sales to
Slide 7: Balance Sheet & Cash Flow
WORKING CAPITAL AS A % OF TTM SALES BALANCE SHEET Balance Sheet & Cash Flow Q3 2017 Q4 2016 Cash 4.5 $ 7.9 $ Debt 158.0 189.5 Net Debt 153.5 $ 181.6 $ LTM Adjusted EBITDA 59.0 $ 63.6 $ Net Debt-to-Adj. EBITDA 2.6x 2.9x In $millions 9% Target 7.6% 3.8% 9.5% 10.3% FREE CASH FLOW YTD 2017 YTD 2016 Cash
Slide 8: 2017 Outlook and Strategic Update
2017 Outlook and Strategic Update High single digits % of Net Sales 2016 2017 Growth Outlook Up double digits High single digits Forecasting low single-digit sales growth in 2017 (Constant Currency) Consumer 12% Vehicle 16% Food & Beverage 13% Auto Aftermarket 30% Industrial 29% FY revenue expected
Slide 9: Appendix
APPENDIX MYERS:
Slide 10: 2017 Key Assumptions
Net Sales: Up low single digits Capital expenditures:$7 - $9 million Net interest expense: $7 - $8 million D&A: $32 - $34 million Effective tax rate (normalized):36% 2017 Key Assumptions
Slide 11: Reconciliation of Non-GAAP Measures: Consolidated Gross Profit
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED GROSS PROFIT (UNAUDITED) (Dollars in thousands) Note on Reconciliation of Income and Earnings Data: Gross profit excluding the items above in the text of this presentation and in thi
Slide 12: Reconciliation of Non-GAAP Measures: Consolidated SG&A
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (Dollars in thousands) Note on Reconciliation of Income and Earnings Data: Selling, general and administrative expenses exclu
Slide 13: Reconciliation of Non-GAAP Measures: Income Before Taxes by Segment
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) Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items above in the
Slide 14: Reconciliation of Non-GAAP Measures: Combined Statements of Income
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES COMBINED STATEMENTS OF INCOME (UNAUDITED) (Dollars in thousands) Note on Reconciliation of Income and Earnings Data: EBITDA as adjusted is a financial measure that Myers Industries, Inc. calculat
Slide 15: Reconciliation of Free Cash Flow to GAAP Operating Cash
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) Note on Reconciliation of Cash Flow Data: Free cash flow is a non-GAAP financial measure
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