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Myers Industries(MYE) - 2022 Q4 - Earnings Call Presentation
2023-03-01 14:32
Financial Performance & Outlook - Q4 2022 net sales increased by 6.6% to $212.8 million, compared to $199.6 million in Q4 2021[17] - Adjusted diluted EPS for Q4 2022 was $0.32, a 39.1% increase from $0.23 in Q4 2021[17] - Full year 2022 net sales reached $899.5 million, an 18.1% increase from $761.4 million in 2021[26] - Adjusted diluted EPS for full year 2022 was $1.68, a 73.2% increase from $0.97 in 2021[26] - The company initiates adjusted EPS guidance of $1.55 to $1.85 for FY2023[5] - Net sales growth for full year fiscal 2023 is expected to be in the low to mid single digits[11] Segment Results - Material Handling segment net sales declined by 3.4% to $142.2 million in Q4 2022, compared to $147.3 million in Q4 2021[20] - Distribution segment net sales increased by 35.0% to $70.6 million in Q4 2022, compared to $52.3 million in Q4 2021[20] Cash Flow & Debt - Quarterly free cash flow was $15.2 million, with capital expenditures of $6.7 million[3] - Debt to adjusted EBITDA stood at 0.9x[22]
Myers Industries(MYE) - 2022 Q3 - Earnings Call Presentation
2022-10-30 12:04
| --- | --- | |-------|----------------------------| | | Earnings Call Presentation | | | Third Quarter 2022 | | | October 27, 2022 | 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", "anticipate", "intend", "objective", "outlook", "ta ...
Myers Industries(MYE) - 2022 Q3 - Quarterly Report
2022-10-27 20:04
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, 2022 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) (Registrant' ...
Myers Industries(MYE) - 2022 Q2 - Quarterly Report
2022-08-02 20:04
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 June 30, 2022 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) Ohio 34-0778636 (State or other jurisdiction of (IRS Emp ...
Myers Industries(MYE) - 2022 Q2 - Earnings Call Transcript
2022-08-02 17:52
Financial Data and Key Metrics Changes - Myers Industries reported a 24% increase in net sales for Q2 2022 compared to the same period last year, marking the seventh consecutive quarter of double-digit growth [9][10] - Adjusted EPS increased by 55% to $0.45, while adjusted EBITDA rose by 41% to $28.9 million, reflecting strong performance across the company [10][19] - Gross margins improved by 260 basis points to 32% compared to 29.4% in Q2 2021, driven by pricing actions that offset inflationary pressures [11][17] Business Line Data and Key Metrics Changes - In the material handling segment, net sales increased by 26%, with organic sales growth of approximately 19%, driven by favorable pricing [20] - The distribution segment saw a 20% increase in sales, with organic growth of 8%, primarily due to pricing actions [22] - Adjusted operating income for material handling increased by 65% to $28 million, while the distribution segment's adjusted operating income rose slightly over 1% to $4.3 million [21][23] Market Data and Key Metrics Changes - Demand remained resilient across most segments, particularly in agriculture and industrial markets, while consumer discretionary and RV markets showed some softening [56][58] - The decline in volume mix was primarily driven by the consumer market, with most other markets experiencing growth [57] Company Strategy and Development Direction - The company is focused on a three-horizon strategy that includes self-help initiatives, organic growth, and bolt-on M&A [30][36] - Recent acquisitions, including Trilogy Plastics and Mohawk Rubber, are expected to enhance customer service and operational capabilities [36][41] - The company aims to maintain a culture of operational excellence and servant leadership to drive long-term growth [44][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties, citing strong demand in core markets [56][58] - The fiscal 2022 outlook has been raised, anticipating net sales growth in the high teens range and adjusted EPS in the range of $1.40 to $1.60 [26][27] - Management emphasized the importance of continued investment in innovation and talent to sustain growth [65] Other Important Information - Free cash flow for the quarter was $21.1 million, up from $11.7 million in Q2 2021, indicating strong operational performance [24] - The company maintains a strong balance sheet with leverage at 1.2x, providing flexibility for future growth initiatives [25] Q&A Session Summary Question: How would you describe the business environment today? - Management noted resilience in demand across most segments, with softening in consumer discretionary and RV markets [55][56] Question: Can we expect the net margin benefit to continue? - Management indicated that margins should hold due to a focus on cost management and pricing strategies [60] Question: What is the outlook for SG&A expenses? - SG&A is expected to remain around 22% of net sales for the remainder of the year, with ongoing investments in the company [64] Question: How is the integration of Mohawk progressing? - Integration is going well, with a complementary culture and no significant overlap in geography or customer mix [68] Question: What is the pipeline for future acquisitions? - Management remains active in the M&A market and is prepared to capitalize on opportunities as they arise [71][72]
Myers Industries(MYE) - 2022 Q2 - Earnings Call Presentation
2022-08-02 16:16
| --- | --- | |-------|----------------------------| | | Earnings Call Presentation | | | Second Quarter 2022 | | | Tuesday, August 2, 2022 | 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", "anticipate", "intend", "objective", "outlo ...
Myers Industries(MYE) - 2022 Q1 - Earnings Call Presentation
2022-05-09 13:51
| --- | --- | |-------|----------------------------| | | Earnings Call Presentation | | | First Quarter 2022 | | | Thursday, May 5, 2022 | 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", "anticipate", "intend", "objective", "outlook" ...
Myers Industries(MYE) - 2022 Q1 - Earnings Call Transcript
2022-05-07 19:20
Myers Industries, Inc. (NYSE:MYE) Q1 2022 Results Conference Call May 5, 2022 8:30 AM ET Company Participants Monica Vinay - Vice President of Investor Relations and Treasurer Mike McGaugh - President and Chief Executive Officer Sonal Robinson - Executive Vice President and Chief Financial Officer Conference Call Participants Steve Barger - KeyBanc Capital Markets Jonnathan Navarrete - Cowen Operator Hello, and welcome to today's Myers Industries First Quarter 2022 Earnings Call. My name is Bailey, and I wi ...
Myers Industries(MYE) - 2022 Q1 - Quarterly Report
2022-05-05 20:07
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, 2022 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) (State or other jurisdiction of (IRS Employer Identific ...
Myers Industries(MYE) - 2021 Q4 - Earnings Call Presentation
2022-03-11 13:01
| --- | --- | |-------|----------------------------| | | Earnings Call Presentation | | | Fourth Quarter 2021 | | | Thursday, March 10, 2022 | 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", "anticipate", "intend", "objective", "outl ...