Myers Industries, Inc. · NYSE:MYE
Myers Industries — FY2015 Earnings Presentation
23 slides from Myers Industries's earnings presentation, Feb 25, 2016
Slide 1: Fourth Quarter & Full Year 2015 Earnings Presentation
February 25, 2016 | Myers Industries, Inc. Fourth Quarter & Full Year 2015 Earnings Presentation Exhibit 99.2
Slide 2: 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 expectations. Wheneve
Slide 3: Agenda
Summary Financial Results Segment Results Summary & Outlook Q&A Appendix Agenda
Slide 4: Summary
MYERS ii INDUSTRIES, INC. Summary
Slide 5: 2015 summary
2015 summary Fourth quarter: Consistent with Q3 results; below expectations Food and beverage end market was up sequentially; down YOY Auto aftermarket and Brazilian end markets softened in the quarter Commercial initiatives are taking longer than planned Favorable input costs and solid operational
Slide 6: Financial Results
MYERS INDUSTRIES, INC. Financial Results
Slide 7: Fourth quarter 2015 financial summary
Fourth quarter 2015 financial summary Flat sequential performance with Q3 In $millions except ratios and percentages (1) See appendix of this presentation for reconciliations from GAAP to Adjusted results.
Slide 8: Full year 2015 financial summary
Full year 2015 financial summary Operational improvements delivering higher margins In $millions except ratios and percentages (1) See appendix of this presentation for reconciliations from GAAP to Adjusted results.
Slide 9: Balance sheet & cash flow
Balance sheet & cash flow Steady cash flow and solid financial position
Slide 10: Segment Results
MYERS ii INDUSTRIES, INC. Segment Results
Slide 11: Material Handling results
Material Handling results $ Millions Q4 summary Full-year summary Sales down (15%); down (10%) in CC Ag volume down DD; index pricing a contributor Completed facility rationalization in US and restructured Brazilian operations Awarded $4.5 million new customer contracts for auto & mfg reusable conta
Slide 12: Distribution results
Sales down 5%: Soft U.S. markets and headwind from strong U.S. dollar Product sourcing and pricing actions offset some of volume impact 30% increase in vending machine installations Introduced new sales force process Distribution results $ Millions Q4 summary Full-year summary Sales down 2% Mixed U.
Slide 13: Summary & Outlook
MYERS ii INDUSTRIES, INC. Summary & Outlook
Slide 14: 2015 in review: CEO summary
2015 in review: Completed strategic re-alignment with sale of Lawn & Garden Challenging year commercially Ag market and Brazil down significantly Solid operational execution First impressions: On boarding process: Q1 – Listen and learn Q2 – Strategic planning Myers Industries strengths Great collect
Slide 15: 2016 outlook
2016 outlook Served markets expected to be flat to down low single digits Revenue growth initiatives for each business within their niche: Sales team initiative in Distribution New products at Scepter Customer project wins at Buckhorn Strategic pricing Margin growth initiatives focused on: Input cos
Slide 16: Q&A
MYERS ii INDUSTRIES, INC. Q&A
Slide 17: Appendix
MYERS ii INDUSTRIES, INC. Appendix
Slide 18: 2016 key assumptions
2016 key assumptions Capital expenditures are expected to be $17 - $22 million Approximately 55% will be used for growth and productivity projects Interest expense forecasted to be $9 - $10 million Depreciation and amortization forecasted to be $35 - $37 million Anticipate effective tax rate for fis
Slide 19: Reconciliation of non-GAAP measures: gross profit
Reconciliation of non-GAAP measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSDENSED 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
Slide 20: Reconciliation of non-GAAP measures: SG&A
Reconciliation of non-GAAP measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSDENSED CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (Dollars in thousands) Note on Reconciliation of Income and Earnings Data: Selling, general and administrative exp
Slide 21: 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 millions, except per share data) Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items above in the t
Slide 22: Reconciliation of non-GAAP measures: EBITDA as adjusted
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 23: MYERS
MYERS i INDUSTRIES, INC.