Financial Performance - Net sales for Q2 2024 were $220.2 million, an increase of 5.7% compared to $208.5 million in Q2 2023[2] - Adjusted EBITDA for Q2 2024 was $38.9 million, up 57.4% from $24.7 million in the prior-year period[2] - GAAP gross margin improved by 150 basis points to 34.3% compared to 32.8% in Q2 2023[4] - Material Handling segment net sales increased by 15.9% to $166.0 million, with operating income rising by 15.6% to $28.7 million[5] - Distribution segment net sales decreased by 16.7% to $54.3 million, with operating income down 35.9% to $2.2 million[6] - Operating income increased to $23,728 thousand for the quarter, compared to $16,142 thousand in the same quarter last year, reflecting a growth of 47.1%[15] - Net income for the quarter was $10,279 thousand, slightly down from $10,605 thousand in the prior year, resulting in a diluted earnings per share of $0.28[15] - Adjusted EBITDA for the same quarter was $38,893 thousand, with an adjusted EBITDA margin of 17.7%[18] - The company reported a net income of $10,279 thousand, translating to a net income margin of 4.7%[18] - For the six months ended June 30, 2024, net sales reached $427,338 thousand, with an adjusted gross profit of $147,195 thousand, reflecting a gross margin of 34.4%[20] - The company’s net income for the six months ended June 30, 2023, was $23,581 thousand, with a net income margin of 5.6%[21] - Adjusted EBITDA for the six months ended June 30, 2023, was $50,624 thousand, with an adjusted EBITDA margin of 11.9%[21] Cost Management and Guidance - The company expects to achieve $7 million to $9 million in annualized cost savings by 2025 through various productivity initiatives[1] - Full-year adjusted earnings per share guidance has been lowered to a range of $1.05 to $1.20 due to continued demand pressure in key markets[1] - Full year 2024 adjusted earnings per diluted share guidance is set between $1.05 and $1.20[24] Cash Flow and Capital Expenditures - Cash flow provided by operations for Q2 2024 was $14.3 million, down from $22.9 million in Q2 2023[7] - Capital expenditures for 2024 are projected to be between $30 million and $35 million[8] - The company reported capital expenditures of $4,417 thousand for the quarter, compared to $6,125 thousand in the prior year[17] - Free cash flow for Q2 2024 was $9,930,000, down from $16,727,000 in Q2 2023, indicating a decrease of 40.8%[22] - The company reported net cash provided by operating activities of $14,347,000 for Q2 2024, down from $22,852,000 in Q2 2023, a decrease of 37.2%[22] Balance Sheet and Leverage - Total assets as of June 30, 2024, were $951,633 thousand, a significant increase from $541,631 thousand at the end of 2023[16] - Current assets rose to $295,543 thousand, up from $256,621 thousand at the end of 2023, driven by increases in cash and trade accounts receivable[16] - Long-term debt increased to $380,450 thousand from $31,989 thousand, indicating a substantial rise in leverage[16] - The company has a net leverage ratio of 2.6x and $231.4 million available under its revolving credit facility as of June 30, 2024[7] Restructuring and Environmental Reserves - The company incurred restructuring expenses and other adjustments totaling $2,711 thousand in the quarter ended June 30, 2024[18] - Environmental reserves net of probable insurance recoveries amounted to $200 thousand for the six months ended June 30, 2024[20] - Environmental reserves, net for Q2 2024 were $100,000, down from $1,800,000 in Q2 2023, indicating a significant reduction[23] Adjusted Metrics - Adjusted operating income for Q2 2024 was $28,826,000, up from $19,027,000 in Q2 2023, representing a 51.5% increase[22] - Adjusted EBITDA for Q2 2024 reached $38,893,000, compared to $24,704,000 in Q2 2023, marking a 57.3% growth[22] - Adjusted net income for Q2 2024 was $14,561,000, compared to $12,928,000 in Q2 2023, reflecting a 12.6% increase[23] - Adjusted earnings per diluted share for Q2 2024 was $0.39, up from $0.35 in Q2 2023, which is a 11.4% increase[23] Risks and Caution - The company has expressed caution regarding future performance due to various risks, including raw material costs and competitive pressures[13]

Financial Data and Key Metrics Changes - Net sales for Q1 2024 were $207.1 million, a decrease of $8.6 million or 4% compared to 2023, primarily driven by lower volume in the Distribution segment [39][40] - Adjusted gross profit was $67.6 million with a margin of 32.7%, down from $71.2 million and 33% in 2023 [39] - Adjusted earnings per share decreased to $0.21 from $0.38 in 2023, attributed to lower sales and operating margins as well as increased interest expenses related to the new term loan [39][40] Business Line Data and Key Metrics Changes - Material Handling segment net sales decreased by $0.3 million or 0.2% year-over-year, with a slight decline in volumes due to trough conditions in the marine and RV markets [40] - Distribution segment net sales decreased by $8.3 million or 13.1% year-over-year, driven by lower sales volumes, partially offset by higher pricing [34] - Adjusted EBITDA for Material Handling increased by $2.2 million or 7.1% to $32.5 million, while Distribution's adjusted EBITDA decreased by $2 million or 59.4% to $1.4 million [34] Market Data and Key Metrics Changes - The company is experiencing trough levels of demand in key end markets, particularly in RV, marine, and consumer discretionary sectors [19][20] - There is a noted slowdown in the automotive aftermarket, impacting overall performance [20][36] - The agricultural seed box orders were significantly delayed, affecting first quarter results but expected to ramp up later in the year [50][53] Company Strategy and Development Direction - The company is transitioning into Horizon 2 of its strategy, focusing on efficiency and cost reduction while maximizing the value of its businesses [5][11] - The acquisition of Signature Systems is seen as a pivotal point in the company's growth story, expected to accelerate transformation into a higher-margin company [18][31] - The company aims to achieve $15 million to $17 million in annual cost reduction and margin improvement through various initiatives [22][35] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the first quarter results were disappointing and anticipates continued challenges in certain end markets [47][48] - Despite the slow start, the company maintains its full-year guidance for adjusted earnings per share at $1.30 to $1.45, albeit at the lower end of the range [20][35] - Management expresses confidence in the growth potential of the Signature acquisition and the storage handling and protection portfolio as key components of future success [43][76] Other Important Information - SG&A expenses increased by $1.4 million or 2.6% compared to 2023, primarily due to the addition of Signature Systems [33] - The company ended Q1 with a debt to adjusted EBITDA ratio of 4.2x, largely due to the debt incurred for the Signature acquisition [35] Q&A Session Summary Question: Was there a slowdown at the time of the Analyst Day? - Management noted that a significant agricultural order was pushed to later in the year, which occurred after the Investor Day, impacting first quarter results [50][51] Question: What gives confidence to maintain the current guidance? - Confidence stems from expected shifts in high-profit businesses and some upticks in consumer business, despite recognizing the first quarter miss [45][46] Question: What surprised management in the material handling side of the business? - The primary surprise was the shift of agricultural seed box orders and weaker-than-expected gas can sales in March [78] Question: Can you elaborate on the $7 million to $9 million cost savings? - These cost savings are currently identified and are expected to be achieved through footprint reduction activities and improved operational efficiency [90][91] Question: What are the expectations for free cash flow? - Management indicated that $80 million in free cash flow is reasonable based on the performance of Signature and core Myers [75][76]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-08524 Myers Industries, Inc. (Exact name of registrant as specified in its charter) incorporation or organization) Number) (330) 253-5592 ( ...

Exhibit 99.1 Myers Industries Announces First Quarter 2024 Results Newly acquired Signature Systems delivers strong results due to Infrastructure tailwinds. May 7, 2024, Akron, Ohio - Myers Industries Inc. (NYSE: MYE), a leading manufacturer of a wide range of polymer and metal products and distributor for the tire, wheel and under-vehicle service industry, today announced results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights President and CEO Mike McGaugh commented, "A ...

Financial Performance - Net sales for the year ended December 31, 2023 were $813.1 million, a decrease of $86.5 million or 9.6% compared to 2022, primarily due to lower overall volume/mix and pricing [135]. - The Material Handling Segment reported net sales of $555.3 million, a decrease of $92.4 million or 14.3%, while the Distribution Segment saw an increase of $5.9 million or 2.3% to $257.9 million [135][137]. - Gross profit decreased by $24.3 million or 8.6% to $259.1 million, with a gross margin of 31.9%, up from 31.5% in the prior year [138][139]. - Selling, general and administrative (SG&A) expenses were $186.9 million, a decrease of $12.6 million or 6.3%, primarily due to lower incentive compensation and variable selling expenses [140]. Debt and Liquidity - As of December 31, 2023, the Company had $30.3 million in cash and $224.3 million available under its Loan Agreement, indicating strong liquidity [144]. - The Company was in compliance with all debt covenants, with an interest coverage ratio of 16.17 and a leverage ratio of 0.70 as of December 31, 2023 [154]. - The Company repaid $26.0 million of Senior Unsecured Notes upon maturity and prepaid the remaining $12.0 million, terminating the Note Purchase Agreement [155]. - Amendment No. 1 to the Loan Agreement includes a new 5-year $400 million term loan facility, with quarterly amortization of $20 million in the first two years and $40 million in the last three years [156]. - The maximum leverage ratio was modified to not exceed 4.00 to 1.00 for the first fiscal quarter after the Signature Systems acquisition and 3.25 to 1.00 thereafter [158]. - The Company incurred approximately $9 million in deferred financing fees related to the Loan Agreement amendment [157]. Tax and Interest - Net interest expense increased to $6.3 million, up 10.8% from $5.7 million in 2022, due to a higher weighted-average borrowing rate of 6.86% [141]. - The effective tax rate rose to 26.0% for 2023, compared to 22.9% in the prior year, primarily due to the recognition of a previously unrecognized tax benefit [142]. Operational Highlights - Cash provided by operating activities increased to $86.2 million in 2023 from $72.6 million in 2022, driven by lower working capital [147]. - The Company acquired Signature Systems for $350 million in February 2024, which generated approximately $110 million in revenue in 2023 [143]. Risk Management - If market interest rates increase by 1%, the Company's variable interest expense would increase by approximately $0.2 million annually [170]. - The net foreign currency exposure related to operations in Canada is generally less than $1 million [171]. - The Company currently has no derivative contracts to hedge changes in raw material pricing, particularly for plastic resins and natural rubber [172]. Off-Balance Sheet Arrangements - The Company has no off-balance sheet arrangements that materially affect its financial condition as of December 31, 2023 [159].

Statements in this release include contains "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, objectives, business prospects and anticipated financial performance. Forward-looking statements can be identified by words such as "will," "believe," "anticipate," "expect," "estimate," "intend," "plan," or variations of these words, or similar exp ...

Exhibit 99.1 Myers Industries Announces Fourth Quarter and Full Year 2023 Results Self-Help Initiatives and Myers Business System Drive Solid Operating Performance Company Initiates Fiscal Year 2024 Outlook and Expects Improved Profitability as Compared to Prior Year Myers to Host Investor & Analyst Day Event in New York City on March 19, 2024 March 5, 2024, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE), a leading manufacturer of a wide range of polymer and metal products and distributor for the tire, wh ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-08524 Myers Industries, Inc. (Exact name of registrant as specified in its charter) incorporation or organization) Number) 1293 South M ...

| --- | --- | --- | --- | |-------|--------------------|----------------------------|-------| | | | | | | | Third Quarter 2023 | Earnings Call Presentation | | | | November 1, 2023 | | | Safe Harbor Statement & Non-GAAP Measures Statements in this presentation include "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed "forward-looking". Words such as "will", "expect", "believe", "project", "plan" ...

Myers Industries, Inc. (NYSE:MYE) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Michael McGaugh - President & Chief Executive Officer Grant Fitz - Financial Officer Conference Call Participants Jonnathan Navarrete - TD Cowen Operator Hello and welcome to today's Myers Industries, Inc. Q2 2023 Earnings Call. My name is Jordan and I'll be coordinating your call today. [Operator Instructions] I'm now going to hand over to Grant Fitz, Chief Financial Officer at Myers Industries ...