Myers Industries, Inc. · NYSE:MYE
Myers Industries — Q1 2014 Earnings Presentation
14 slides from Myers Industries's earnings presentation, Apr 24, 2014
Slide 1: Earnings Presentation First Quarter 2014
Exhibit 99.2 April 24, 2014 Earnings Presentation First Quarter 2014
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: First Quarter 2014 Financial Summary
First Quarter 2014 Financial Summary Q1 Q1 • Severe winter weather and transportation issues impacted net Highlights 2014 2013 B/(W) sales by $9.6 million and net Net sales $208.8 $215.0 (2.9%) income by $2.5 million or $0.07 per share Gross profit margin - adjusted¹ 26.8% 27.2% • Adjusted gross pro
Slide 4: First Quarter 2014 Financial Summary
First Quarter 2014 Financial Summary Three Months Ended Three Months Ended Cash March 31, March 31, Highlights 2014 2013 Cash used for operations ($60.7) ($6.5) Capital expenditures $4.7 $4.5 Free cash flow ($65.3) ($11.0) Dividends $3.1 $0.0 Balance Sheet March 31, December 31, Highlights 2014 2013
Slide 5: Segment Review – Material Handling
Segment Review Material – Handling $ Millions Net Sales Q1 Results $95 $90.6 • Strong sales in the food $90 processing and $85 $80.0 $80 agricultural end markets $75 $70 Q1 2013 Q1 2014 • A less favorable sales EBIT -Adjusted mix offset a portion of $15 $10.9 $9.9 the income from the $10 higher sale
Slide 6: Segment Review – Lawn & Garden
Segment Review Lawn – & Garden $ Millions Q1 Results Net Sales $62 $60.4 • Extremely poor weather $59 conditions and $56 $53 transportation issues $50 $49.8 severely impacted the $47 $44 segment’s sales and $41 operations $38 $35 Q1 2013 Q1 2014 • Startup inefficiencies in EBIT -Adjusted phase two o
Slide 7: Segment Review – Distribution
Segment Review Distribution – $ Millions Net Sales Q1 Results $45 • Net sales declined $43 $42.6 compared to last year as a $41 $39.7 result of harsh weather $39 conditions and the closure $37 of the Canadian branches $35 in the first quarter of 2014 Q1 2013 Q1 2014 EBIT -Adjusted • A more favorable
Slide 8: Segment Review – Engineered Products
Segment Review Engineered – Products $ Millions Net Sales Q1 Results $40 $37.0 • Lower sales volumes in the custom and transplant auto $35 $32.7 markets were only partially $30 offset by continued strong $25 RV and marine sales Q1 2013 Q1 2014 EBIT -Adjusted • The decrease in income $10 before taxes
Slide 9: Q2 & Full Year 2014 Outlook
Q2 & Full Year 2014 Outlook Q2 Outlook • Material Handling • Expect increased sales year-over-year driven by organic growth in Brazil and continued strong agricultural sales • Lawn & Garden • Anticipate that sales could be slightly higher compared to last year due to a potential delay in the season
Slide 10: Appendix
Appendix 10
Slide 11: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONDENSED CONSOLIDATED GROSS PROFIT (UNAUDITED) (Dollars in thousands) For the Quarter Ended March 31, 2014 March 31, 2013 Gross profit as reported $ 50,028 $ 58,318 Restructuring and other adjus
Slide 12: 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 millions, except per share data) For the Quarter Ended March 31, 2014 March 31, 2013 Material Handling Income before taxes as reporte
Slide 13: Market Indicators
Market Indicators Material Handling Lawn & Garden Housing Starts MHEM Index Consumer Sentiment Sources: National Association of Home Builders (NAHB), April 2014; Source: Material Handling Industry Feb 2014 Forecast - Thomson Reuters/University of Michigan, March 2014 Distribution Engineered Products
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