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Myers Industries(MYE) - 2021 Q3 - Quarterly Report
2021-11-04 20:10
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, 2021 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 1-8524 Myers Industries, Inc. (Exact name of registrant as specified in its charter) Ohio 34-0778636 (State or other jurisdiction of (IRS E ...
Myers Industries(MYE) - 2021 Q2 - Earnings Call Presentation
2021-08-16 19:29
S&P Global Market Intelligence Myers Industries, Inc. NYSE:MYE FQ1 2021 Earnings Call Transcript COPYRIGHT © 2021 S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved spglobal.com/marketintelligence 1 MYERS INDUSTRIES, INC. FQ1 2021 EARNINGS CALL | MAY 06, 2021 | --- | |----------------------------------------------| | | | Call Participants | | EXECUTIVES | | Michael P. McGaugh President, CEO & Director | | Monica Vinay | | VP of Investor Relations & Treasurer | | Sonal P. Robin ...
Myers Industries(MYE) - 2021 Q2 - Earnings Call Transcript
2021-08-07 20:17
Myers Industries Inc. (NYSE:MYE) Q2 2021 Earnings Conference Call August 5, 2021 8:30 AM ET Company Participants Monica Vinay - VP of IR & Treasurer Mike McGaugh - President, CEO & Director Sonal Robinson - Executive VP & CFO Conference Call Participants Steve Barger - KeyBanc Operator Good morning or good afternoon all, and welcome to the Myers Industries 2021 Second Quarter Earnings Call. My name is Adam, and I will be your operator today. [Operator Instructions] I will now hand you over to Monica Vinay. ...
Myers Industries(MYE) - 2021 Q2 - Quarterly Report
2021-08-05 20:03
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, 2021 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the transition period from to Commission File Number 1-8524 Myers Industries, Inc. (Exact name of registrant as specified in its charter) Ohio 34-0778636 (State or other jurisdiction of (IRS Employ ...
Myers Industries(MYE) - 2021 Q1 - Earnings Call Transcript
2021-05-09 03:14
Myers Industries, Inc. (NYSE:MYE) Q1 2021 Earnings Conference Call May 6, 2021 8:30 AM ET Company Participants Monica Vinay - Vice President, 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 Operator Ladies and gentlemen, thank you for standing by and welcome to the Myers Industries 2021 First Quarter Earnings Conference Call. [Operato ...
Myers Industries(MYE) - 2021 Q1 - Quarterly Report
2021-05-06 20:16
Financial Performance - Net sales for the quarter ended March 31, 2021, were $174.4 million, an increase of $52.2 million or 43% compared to the same period in 2020[91]. - The Material Handling Segment net sales increased by $45.8 million or 54%, driven by higher volume/mix and incremental sales from the Elkhart Plastics acquisition[92]. - The Distribution Segment net sales increased by $6.4 million or 17%, primarily due to higher volume[93]. - Gross profit for the quarter was $50.4 million, a 19% increase from $42.5 million in the same quarter of 2020, with gross profit margin decreasing to 28.9% from 34.8%[94]. Expenses and Costs - Selling, General and Administrative (SG&A) expenses rose to $39.5 million, an increase of 27% compared to the prior year, primarily due to the Elkhart Plastics acquisition and higher incentive compensation[95]. - Net interest expense decreased by 7% to $1.0 million, attributed to lower borrowing rates and reduced borrowings[97]. - The effective tax rate increased to 26.0% from 24.8% due to higher non-deductible expenses[98]. Liquidity and Cash Flow - As of March 31, 2021, the Company had $16.7 million in cash and $211.2 million available under the Loan Agreement, indicating strong liquidity[99]. - Net cash provided by operating activities was $6.6 million, up from $5.0 million in the same period in 2020, reflecting higher sales volume[100]. Capital Expenditures and Debt - The Company expects full-year 2021 capital expenditures to be approximately $15 million, with $5.2 million spent in the first quarter[101]. - As of March 31, 2021, the Company has $38 million in Senior Unsecured Notes outstanding, with maturities of $26 million due on January 15, 2024, and $12 million due on January 15, 2026[106]. - The Company is in compliance with all debt covenants, with an interest coverage ratio of 15.66 (required minimum 3.00) and a leverage ratio of 1.19 (maximum allowed 3.25) as of March 31, 2021[107]. Market Risks - If market interest rates increase by 1%, the Company's annual interest expense would increase by approximately $0.3 million[109]. - The Company's foreign currency exposure ranges from $1 million to $3 million, primarily due to U.S. dollar sales from Canadian operations[110]. - The Company currently has no derivative contracts to hedge commodity price risks, particularly for plastic resins used in manufacturing[111].
Myers Industries(MYE) - 2021 Q1 - Earnings Call Presentation
2021-05-06 16:35
Earnings Presentation | FIRST QUARTER 2021 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", "target", "goal", "view" and similar expressions identify forward-looking statements. These st ...
Myers Industries(MYE) - 2020 Q4 - Annual Report
2021-03-11 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2020 OR MYERS INDUSTRIES, INC. (Exact name of registrant as specified in its charter) OHIO 34-0778636 (State or other jurisdiction of incorporation or organization) (330) 253-5592 (Telephone Number) Securities registered pursuant to Section 12(b) of the Act: | Title of Each Class | Trading Symbol | Name ...
Myers Industries(MYE) - 2020 Q4 - Earnings Call Transcript
2021-03-11 16:54
Start Time: 08:30 January 1, 0000 9:03 AM ET Myers Industries, Inc. (NYSE:MYE) Q4 2020 Earnings Conference Call March 11, 2021, 08:30 AM ET Company Participants Mike McGaugh - President and CEO Dan Hoehn - Interim CFO Sonal Robinson - EVP of Finance Monica Vinay - VP, IR and Treasurer Conference Call Participants Steve Barger - KeyBanc Capital Markets Tim Wojs - Baird Operator Ladies and gentlemen, thank you for standing by, and welcome to the Myers Industries 2020 Fourth Quarter Earnings Conference Call. A ...
Myers Industries(MYE) - 2020 Q4 - Earnings Call Presentation
2021-03-11 14:27
Earnings Presentation | FOURTH QUARTER 2020 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", "target", "goal", "view" and similar expressions identify forward-looking statements. These s ...