![]() April 19, 2012 Earnings Presentation First Quarter 2012 First Quarter 2012 Myers Industries, Inc. Exhibit 99.2 |
![]() 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. Whenever you read a statement that is not simply a statement of historical fact (such as when we describe what we "believe," "expect," or "anticipate" will occur, and other similar statements), you must remember that our expectations may not be correct, even though we believe they are reasonable. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). You should review this presentation with the understanding that actual future results may be materially different from what we expect. Many of the factors that will determine these results are beyond our ability to control or predict. You are cautioned not to put undue reliance on any forward-looking statement. We do not intend, and undertake no obligation, to update these forward-looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. Such risks include: (1) Fluctuations in product demand and market acceptance (2) Uncertainties associated with the general economic conditions in domestic and international markets (3) Increased competition in our markets (4) Changes in seasonality (5) Difficulties in manufacturing operations, such as production outages or maintenance programs (6) Raw material availability (7) Fluctuations in raw material costs; fluctuations outside the “normal” range of industry cycles (8) Changes in laws and regulations and approvals and decisions of courts, regulators, and governmental bodies Myers Industries, Inc. encourages investors to learn more about these risk factors. A detailed explanation of these factors is available in the Company’s publicly filed quarterly and annual reports, which can be found online at www.myersind.com and at the SEC.gov web site. 2 Safe Harbor Statement |
![]() 3 *See reconciliation of Non-GAAP measures on slide 11. Q1 2012 Highlights $0.19 $0.29 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 Q1 2011 Q1 2012 Earnings Per Share $0.20 $0.30 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 Q1 2011 Q1 2012 Earnings Per Diluted Share - Adjusted* |
![]() ![]() ![]() 4 P&L Q1 Q1 Highlights 2012 2011 B/(W) Net sales $198.8 $195.5 1.7% Gross margin 29.2% 27.7% 5.4% SG&A $40.9 $41.7 1.9% Net income - adjusted* $10.1 $7.1 42.3% Effective tax rate 37.7% 39.6% EPS - adjusted* $0.30 $0.20 50.0% Cash & Q1 Q1 B/S Highlights 2012 2011 Operating cash flow ($6.4) ($0.4) Capital expenditures $3.1 $2.5 Dividends $2.3 $2.3 Debt - net of cash $76.9 $67.2 2012 Q1 Financial Summary |
![]() Q1 Results Soft sales in less profitable manufacturing and automotive markets Favorable customer and product mix from sales to agricultural and food processing markets Operations Excellence initiatives including use of alternative materials and productivity improvements generated cost savings Segment Commentary MHEM index currently estimating single digit growth in 2012 Anticipate soft sales in Q2 compared to last year due to a delay in the timing of orders 5 Segment Review – Material Handling $65.7 $65.2 $63 $66 Q1 2011 Q1 2012 Net Sales $10.3 $13.2 $0 $2 $4 $6 $8 $10 $12 $14 Q1 2011 Q1 2012 EBIT - Adjusted |
![]() 6 Segment Review – Lawn & Garden $67.2 $59.2 $54 $57 $60 $63 $66 $69 Q1 2011 Q1 2012 Net Sales $3.9 $1.2 $0 $2 $4 $6 Q1 2011 Q1 2012 EBIT - Adjusted Q1 Results Sales soft in Q1 as result of the acceleration of orders into Q4 of 2011 and high customer inventory levels in Q1 of 2012 Decrease was partially offset through profit improvement plan and operations excellence initiatives Segment Commentary Seeing a strengthening in the market beginning in Q2 due to favorable weather |
![]() 7 Segment Review – Distribution $41.6 $42.7 $39 $42 $45 Q1 2011 Q1 2012 Net Sales $3.3 $3.9 $2 $4 Q1 2011 Q1 2012 EBIT - Adjusted |
![]() 8 $27.9 $37.2 $0 $5 $10 $15 $20 $25 $30 $35 $40 Q1 2011 Q1 2012 Net Sales $2.9 $4.7 $0 $2 $4 $6 Q1 2011 Q1 2012 EBIT - Adjusted Segment Review – Engineered Products |
![]() 9 Outlook Strong start and consistent execution of strategic principles should lead to solid performance in 2012 Timing of food processing and agricultural orders may shift demand to the second half of the year in Material Handling Beginning in Q2, favorable weather should strengthen the market in Lawn & Garden Anticipate combating continued headwinds in Distribution due to higher fuel prices which drive down miles driven and replacement tire sales Continued strength in the marine market as boat builders switch to our EPA approved fuel tank in Engineered Products Return to more normal demand in transplant auto and custom markets in Engineered Products by the end of Q2 |
![]() Appendix |
![]() 11 2012 2011 Material Handling Income before taxes as reported 13.2 $ 10.3 $ Income before taxes as adjusted 13.2 10.3 Lawn & Garden Income before taxes as reported 1.2 3.9 Income before taxes as adjusted 1.2 3.9 Distribution Income before taxes as reported 3.5 3.1 Restructuring expenses 0.4 0.2 Income before taxes as adjusted 3.9 3.3 Engineered Products Income before taxes as reported 4.6 2.8 Restructuring expenses 0.1 0.1 Income before taxes as adjusted 4.7 2.9 Corporate and interest expense Income (loss) before taxes as reported (6.5) (9.0) Restructuring and other adjustments 0.1 0.3 Income (loss) before taxes as adjusted (6.4) (8.7) Consolidated Income before taxes as reported 16.0 11.1 Restructuring expenses and other adjustments 0.6 0.6 Income before taxes as adjusted 16.6 11.7 Income taxes at 39% 6.5 4.6 Net Income as adjusted 10.1 $ 7.1 $ Note: Numbers in the Corporate and interest expense section above may be rounded for presentation purposes. MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Quarter Ended March 31, INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED) (Dollars in millions) Reconciliation of Non-GAAP Measures |
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