MYERS INDUSTRIES, INC.d18rn0p25nwr6d.cloudfront.net/CIK-0000069488/2954... · In February 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORTPursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported) November 6, 2018

MYERS INDUSTRIES, INC.(Exact name of registrant as specified in its charter)

Ohio 1-8524 34-0778636

(State or other jurisdictionof incorporation)

(Commission File Number)

(IRS EmployerIdentification Number)

1293 South Main Street, Akron, OH 44301(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, including area code (330) 253-5592

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of thefollowing provisions.

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of thischapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On November 6, 2018, Myers Industries, Inc. (the “Company”) issued a press release announcing earnings results for the quarter ended September 30, 2018.The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. In addition, acopy of the slide materials, which will be discussed during the Company’s earnings conference call at 8:30 a.m. Eastern Time on November 6, 2018, isattached as Exhibit 99.2 to this Current Report on Form 8-K. Information about the call can be found in the press release attached as Exhibit 99.1 to thisCurrent Report on Form 8-K.

The information in this report (including the exhibits) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934,as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference inany filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure

See “Item 2.02 Results of Operations and Financial Condition” above.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits Exhibit No. Description

99.1 Press Release by the Company regarding earnings results dated November 6, 2018

99.2 Earnings Presentation Third Quarter 2018 by the Company dated November 6, 2018

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by theundersigned hereunto duly authorized. Date: November 6, 2018 MYERS INDUSTRIES, INC.

By: /s/ R. David Banyard R. David Banyard, President and Chief Executive Officer

Exhibit 99.1

Myers Industries Reports 2018 Third Quarter Results

Strong cash flow generation continues; strategic actions to improve Distribution Segment underway

November 6, 2018, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products for industrial, agricultural, automotive,commercial and consumer markets, today announced results for the third quarter ended September 30, 2018.

Third Quarter 2018 Business Highlights

• GAAP net loss per diluted share from continuing operations of $0.60, compared to net income per diluted share from continuing operations of $0.10in the third quarter of 2017

• Adjusted net income per diluted share from continuing operations of $0.15, compared to $0.10 in the third quarter of 2017

• Net sales were roughly flat compared to the third quarter of 2017

• Gross profit margin of 31.1% compared to 29.0% in the third quarter of 2017

• Generated cash from continuing operations of $13.9 million and free cash flow of $12.7 million

• The Company recognized $33.3 million of charges related to the 2015 sale of the Company’s Lawn and Garden business - a non-cash, pre-tax chargeof $23 million for a promissory note as well as a pre-tax charge of $10.3 million for a potential obligation under a lease guarantee

• The Company expects that net sales for fiscal year 2018 will be flat to up low-single-digits compared to 2017

“Our third quarter financial performance reflects the seasonality we typically experience in the second half of the year. However, as indicated in our releaseissued on October 4, 2018, our results were further impacted by a slowdown in the RV market and lower-than-expected sales in the Distribution Segment.Despite this, we were able to deliver strong free cash flow in the quarter of $12.7 million and 18 percent growth in adjusted operating incomeyear-over-year,” said Dave Banyard, President and Chief Executive Officer of Myers Industries.

“As a result of the continued performance challenges in our Distribution Segment, we have begun implementing actions designed to reduce costs andimprove the long-term performance of the segment,” added Mr. Banyard. “These actions are focused on increasing sales and contribution margins throughbroad organizational change within the segment, including adjusting our go-to-market strategy, rationalizing our product offering, and streamlining oursupply chain and logistics. These actions are our top priority as we execute our long-term strategy focused on niche markets, flexible operations andstrategic M&A.” Quarter Ended September 30, Nine Months Ended September 30,

(Dollars in thousands, except per share data) 2018 2017 % Inc (Dec) 2018 2017

% Inc (Dec)

Net sales $135,219 $135,113 0.1% $428,347 $406,937 5.3% Gross profit $ 42,091 $ 39,143 7.5% $137,197 $119,196 15.1% Gross profit margin 31.1% 29.0% 32.0% 29.3% Operating income (loss) $ (25,839) $ 6,801 (479.9)% $ (706) $ 20,885 (103.4)% Income from continuing operations:

Income (loss) $ (21,137) $ 3,083 (785.6)% $ (4,774) $ 9,023 (152.9)% Income (loss) per diluted share $ (0.60) $ 0.10 (700.0)% $ (0.15) $ 0.30 (150.0)%

Operating income (loss) as adjusted (1) $ 7,893 $ 6,687 18.0% $ 32,773 $ 25,826 26.9% Income from continuing operations as adjusted (1) :

Income (loss) $ 5,258 $ 3,103 69.4% $ 21,704 $ 12,799 69.6% Income (loss) per diluted share $ 0.15 $ 0.10 50.0% $ 0.65 $ 0.42 54.8%

EBITDA as adjusted $ 14,157 $ 13,383 5.8% $ 52,136 $ 47,775 9.1% (1) Detail regarding the adjusted charges is provided on the Reconciliations of Non-GAAP Financial Measures included in this release.

The Company reported net sales of $135.2 million, roughly flat compared to the third quarter of 2017. Increased sales in the Company’s industrial andvehicle end markets were offset by declines in the consumer, auto aftermarket and food and beverage end markets. Sales in the vehicle end market were upyear-over-year despite a double-digit decline in sales to the recreational vehicle market. Gross profit margin increased to 31.1%, primarily due to pricingactions and savings from last year’s restructuring initiatives, partially offset by higher-than-expected factory costs driven by increased maintenance andrepair activity. Selling, general and administrative expenses decreased $0.7 million year-over-year to $34.4 million, with the decrease in expenses primarilyattributable to lower incentive compensation and benefit costs, partially offset by higher R&D costs due to a new product launch in the Company’sconsumer market.

Segment Results

Net sales in the Material Handling Segment increased by 2.6% (or 3.2% excluding currency fluctuation) compared to the third quarter of 2017. Theincrease in net sales was primarily due to increased volume in the segment’s industrial and vehicle end markets, partially offset by declines in the consumerand food and beverage end markets. Increased sales to automotive and marine customers in the segment’s vehicle end market more than offset a decline insales to the recreational vehicle market. The segment’s adjusted EBITDA margin was 17.5% compared to 16.5% in the third quarter of 2017. The increasein adjusted EBITDA margin was primarily the result of pricing actions and the benefit of restructuring actions taken in 2017, partially offset byhigher-than-expected factory and R&D costs.

Net sales in the Distribution Segment declined by 6.1% compared to the third quarter of 2017. The decline was primarily due to lower equipment andinternational sales at Myers Tire Supply. The segment’s adjusted EBITDA margin was 7.6% compared to 8.7% in the third quarter of 2017. The decline wasprimarily due to the lower sales volume, which was partially offset by gross margin expansion driven by a favorable mix of consumables versus equipment.

Charges Related to HC Companies Promissory Notes and Lease

In February 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners V, L.P. The terms of the transactionincluded promissory notes totaling $20 million (the notes) that mature in August 2020. The carrying value of the notes and corresponding accrued interestas of September 30, 2018 was approximately $23 million. Additionally, the Company is a guarantor for one of the entity’s facility leases expiring in 2025.Remaining rent payments under the lease total $14 million.

During the third quarter of 2018, management of the Lawn and Garden business, now named HC Companies, Inc., requested an extension to the maturity ofthe notes as part of an effort to restructure their debt. The Company believes there is uncertainty about the ability to collect on the notes. As a result, theCompany recognized a non-cash, pre-tax charge of $23 million in the third quarter of 2018 with respect to the notes. The Company estimates that thepotential obligation under the lease guarantee will be in the range of $10 to $14 million. As a result, the Company recognized a pre-tax charge of $10.3million during the third quarter of 2018 with respect to the lease guarantee.

Strategic Actions for the Distribution Segment

The Company began implementing additional sales performance improvement and cost reduction actions within its Distribution Segment during the fourthquarter of 2018. These actions include investments to strengthen the segment’s go-to-market strategy and broaden existing e-commerce capabilities. TheCompany is also evaluating opportunities to rationalize its product portfolio and reduce freight and distribution costs, as well as other ancillary and fixedcosts. As a result, the Company expects to incur costs of approximately $1.5 million during the fourth quarter of 2018 to assist with execution of the actions.

2018 Outlook

For fiscal year 2018, the Company anticipates that total revenue will be flat to up low-single-digits on a constant currency basis compared to the prior year.The Company expects capital expenditures to be in the range of $6 million to $8 million. Net interest expense is forecasted to be between $4 million and $6million. Depreciation and amortization is forecasted to be approximately $26 million. The Tax Cuts and Jobs Act will benefit the Company through adecrease in its effective tax rate, which is expected to be approximately 25% compared to approximately 36% in 2017.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Tuesday, November 6, at 8:30 a.m. ET. The call is anticipatedto last approximately one hour and may be accessed by dialing: (US) 833-233-3452 or (Int’l) 647-689-4129. The Conference ID # is 7896135. Callers areasked to sign on at least five minutes in advance. The live webcast of the conference call can be accessed from the Investor Relations section of theCompany’s website at www.myersindustries.com . Click on the Investor Relations tab to access the webcast. Webcast attendees will be in a listen-onlymode. An archived replay of the call will also be available on the site shortly after the event. To listen to the telephone replay, callers should dial: (US)800-585-8367 or (Int’l) 416-621-4642. The Conference ID # is 7896135.

Use of Non-GAAP Financial Measures

The Company uses certain non-GAAP measures in this release. Adjusted net income per diluted share from continuing operations, income from continuingoperations as adjusted, adjusted income per diluted share from continuing operations, operating income as adjusted, adjusted operating income, adjustedEPS, adjusted EBITDA and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordancewith accounting principles generally accepted in the United States. Myers Industries believes that such information provides an additional measurement andconsistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparableGAAP measures is available in this news release.

About Myers Industries

Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets. TheCompany is also the largest distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the United States. Visitwww.myersindustries.com to learn more.

Caution on Forward-Looking Statements

Statements in this release include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statementthat is not of historical fact may be deemed “forward-looking”. Words such as “expect”, “believe”, “project”, “plan”, “anticipate”, “intend”, “objective”,“outlook”, “target”, “goal”, “view” and similar expressions identify forward-looking statements. These statements are based on management’s current viewsand assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company’s control thatcould cause actual results to materially differ from those expressed or implied. Risks and uncertainties include: raw material availability, increases in rawmaterial costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of suchinitiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in themarkets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at ourmanufacturing facilities, or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world;inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulationsaffecting the Company; and other risks as detailed in the Company’s 10-K and other reports filed with the Securities and Exchange Commission. Suchreports are available on the Securities and Exchange Commission’s public reference facilities and its website at www.sec.gov and on the Company’sInvestor Relations section of its website at www.myersindustries.com . Myers Industries undertakes no obligation to publicly update or revise anyforward-looking statements contained herein. These statements speak only as of the date made.

Contact:

Monica Vinay, Vice President, Investor Relations & Treasurer(330) 761-6212

MYERS INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Dollars in thousands, except share and per share data) Quarter Ended Nine Months Ended

September30, 2018

September30, 2017

September30, 2018

September30, 2017

Net sales $ 135,219 $ 135,113 $ 428,347 $ 406,937 Cost of sales 93,128 95,970 291,150 287,741

Gross profit 42,091 39,143 137,197 119,196 Selling, general and administrative expenses 34,381 35,107 104,360 101,779 (Gain) loss on disposal of fixed assets 218 (2,765) (96) (4,012) Impairment charges — — 308 544 Other expenses 33,331 — 33,331 —

Operating income (loss) (25,839) 6,801 (706) 20,885 Interest expense, net 883 1,838 3,835 5,828

I ncome (loss) from continuing operations before income taxes (26,722) 4,963 (4,541) 15,057 Income tax expense (benefit) (5,585) 1,880 233 6,034

Income (loss) from continuing operations (21,137) 3,083 (4,774) 9,023 Income (loss) from discontinued operations, net of income taxes (2) 174 (913) (659)

Net income (loss) $ (21,139) $ 3,257 $ (5,687) $ 8,364

Income (loss) per common share from continuing operations: Basic $ (0.60) $ 0.10 $ (0.15) $ 0.30 Diluted $ (0.60) $ 0.10 $ (0.15) $ 0.30 I ncome (loss) per common share from discontinued operations: Basic $ — $ 0.01 $ (0.02) $ (0.02) Diluted $ — $ 0.01 $ (0.02) $ (0.02) Net income (loss) per common share: Basic $ (0.60) $ 0.11 $ (0.17) $ 0.28 Diluted $ (0.60) $ 0.11 $ (0.17) $ 0.28 Weighted average common shares outstanding: Basic 35,229,171 30,266,838 32,783,853 30,149,818 Diluted 35,677,409 30,651,943 33,247,459 30,524,161

MYERS INDUSTRIES, INC.SALES AND EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands) Quarter Ended September 30, Nine Months Ended September 30, 2018 2017 % Change 2018 2017 % Change Net sales

Material Handling $ 97,682 $ 95,192 2.6% $317,621 $289,700 9.6% Distribution 37,557 40,004 (6.1)% 110,815 117,836 (6.0)% Inter-company Sales (20) (83) — (89) (599) —

Total $135,219 $135,113 0.1% $428,347 $406,937 5.3%

Operating income (loss) Material Handling $ 10,812 $ 10,015 8.0% $ 44,865 $ 30,675 46.3% Distribution 2,546 3,179 (19.9)% 7,070 7,742 (8.7)% Corporate (39,197) (6,393) — (52,641) (17,532) —

Total $ (25,839) $ 6,801 (479.9)% $ (706) $ 20,885 (103.4)%

Operating income (loss) as adjusted Material Handling $ 11,213 $ 9,575 17.1% $ 45,370 $ 35,290 28.6% Distribution 2,546 3,179 (19.9)% 6,405 7,742 (17.3)% Corporate (5,866) (6,067) — (19,002) (17,206) —

Total $ 7,893 $ 6,687 18.0% $ 32,773 $ 25,826 26.9%

Operating income margin as adjusted Material Handling 11.5% 10.1% 14.3% 12.2% Distribution 6.8% 7.9% 5.8% 6.6% Corporate n/a n/a n/a n/a

Total 5.8% 4.9% 7.7% 6.3%

EBITDA as adjusted Material Handling $ 17,107 $ 15,732 8.7% $ 63,499 $ 55,447 14.5% Distribution 2,845 $ 3,490 (18.5)% 7,314 8,608 (15.0)% Corporate (5,795) $ (5,839) — (18,677) (16,280) —

Total $ 14,157 $ 13,383 5.8% $ 52,136 $ 47,775 9.1%

EBITDA margin as adjusted Material Handling 17.5% 16.5% 20.0% 19.1% Distribution 7.6% 8.7% 6.6% 7.3% Corporate n/a n/a n/a n/a

Total 10.5% 9.9% 12.2% 11.7%

MYERS INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(Dollars in thousands) September 30, 2018 December 31, 2017 Assets Current Assets

Cash $ 46,505 $ 2,520 Restricted cash — 8,659 Accounts receivable, net 69,250 76,509 Income tax receivable 7,043 12,954 Inventories 44,310 47,166 Other 3,050 2,204

Total Current Assets 170,158 150,012 Other assets 98,284 122,026 Property, plant, & equipment, net 73,011 83,904

Total Assets $ 341,453 $ 355,942

Liabilities & Shareholders’ Equity Current Liabilities

Accounts payable $ 51,375 $ 63,581 Accrued expenses 34,862 35,072

Total Current Liabilities 86,237 98,653 Long-term debt, net 76,693 151,036 Other liabilities 19,264 8,236 Deferred income taxes 202 4,265 Total Shareholders’ Equity 159,057 93,752

Total Liabilities & Shareholders’ Equity $ 341,453 $ 355,942

MYERS INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands) Nine Months Ended September 30, 2018 2017 Cash Flows From Operating Activities

Net income (loss) $ (5,687) $ 8,364 Income (loss) from discontinued operations, net of income taxes (913) (659)

Income (loss) from continuing operations (4,774) 9,023 Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used for)

operating activities Depreciation 13,329 15,226 Amortization 6,455 6,722 Accelerated depreciation associated with restructuring activities 16 2,018 Non-cash stock-based compensation expense 3,532 2,873 (Gain) loss on disposal of fixed assets (96) (4,012) Provision for loss on note receivable 23,008 — Impairment charges 308 544 Deferred taxes (7,666) 101 Interest income received (accrued) on note receivable (361) (999) Other 211 39

Payments on performance based compensation (1,249) (1,010) Other long-term liabilities 10,010 (102) Cash flows provided by (used for) working capital

Accounts receivable 7,890 (5,820) Inventories 2,708 (1,608) Prepaid expenses and other current assets (853) 1,639 Accounts payable and accrued expenses (11,347) 15,650

Net cash provided by (used for) operating activities - continuing operations 41,121 40,284 Net cash provided by (used for) operating activities - discontinued operations 858 (4,158)

Net cash provided by (used for) operating activities 41,979 36,126

Cash Flows From Investing Activities Capital expenditures (3,560) (5,109) Proceeds from sale of property, plant and equipment 2,633 7,925

Net cash provided by (used for) investing activities - continuing operations (927) 2,816 Net cash provided by (used for) investing activities - discontinued operations — 131

Net cash provided by (used for) investing activities (927) 2,947

Cash Flows From Financing Activities Net borrowing (repayments) on credit facility (74,557) (31,397) Cash dividends paid (13,039) (12,230) Proceeds from issuance of common stock 2,825 2,524 Proceeds from public offering of common stock, net of equity issuance costs 79,522 — Shares withheld for employee taxes on equity awards (446) (273) Deferred financing costs — (1,030)

Net cash provided by (used for) financing activities - continuing operations (5,695) (42,406) Net cash provided by (used for) financing activities - discontinued operations — —

Net cash provided by (used for) financing activities (5,695) (42,406)

Foreign exchange rate effect on cash (31) (28) Less: Net increase (decrease) in cash classified within discontinued operations — (3,890)

Net increase (decrease) in cash, cash equivalents, and restricted cash 35,326 529 Cash, cash equivalents, and restricted cash at January 1 11,179 11,039

Cash, cash equivalents, and restricted cash at September 30 $ 46,505 $ 11,568

MYERS INDUSTRIES, INC.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)(Dollars in thousands)

Quarter Ended September 30, 2018

Material Handling Distribution

Segment Total

Corporate& Other Total

GAAP Net sales $ 97,682 $ 37,557 $135,239 $ (20) $135,219 GAAP Gross profit 42,091 — 42,091

Add: Restructuring expenses and other adjustments 286 — 286

Gross profit as adjusted 42,377 — 42,377 Gross profit margin as adjusted 31.3% n/a 31.3%

GAAP Operating income (loss) 10,812 2,546 13,358 (39,197) (25,839) Add: Restructuring expenses and other adjustments (1) 401 — 401 — 401 Add: Provision for loss on note receivable — — — 23,008 23,008 Add: Lease guarantee — — — 10,323 10,323

Operating income (loss) as adjusted 11,213 2,546 13,759 (5,866) 7,893 Operating income margin as adjusted 11.5% 6.8% 10.2% n/a 5.8%

Add: Depreciation and amortization 5,960 299 6,259 71 6,330 Less: Depreciation adjustments (66) — (66) — (66)

EBITDA as adjusted $ 17,107 $ 2,845 $ 19,952 $ (5,795) $ 14,157 EBITDA margin as adjusted 17.5% 7.6% 14.8% n/a 10.5% (1) Includes gross profit adjustments of $286 and SG&A adjustments of $115 Quarter Ended September 30, 2017


Segment Total


GAAP Net sales $ 95,192 $ 40,004 $135,196 $ (83) $135,113

GAAP Gross profit 39,143 — 39,143 Add: Restructuring expenses and other adjustments 1,965 — 1,965


GAAP Operating income (loss) 10,015 3,179 13,194 (6,393) 6,801 Add: Restructuring expenses and other adjustments (1) 2,404 — 2,404 326 2,730 Less: Gain on sale of assets (2,844) — (2,844) — (2,844)



EBITDA as adjusted $ 15,732 $ 3,490 $ 19,222 $ (5,839) $ 13,383 EBITDA margin as adjusted 16.5% 8.7% 14.2% n/a 9.9% (1) Includes gross profit adjustments of $1,965 and SG&A adjustments of $765


GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)(Dollars in thousands)

Nine Months Ended September 30, 2018


Segment Total


GAAP Net sales $317,621 $ 110,815 $428,436 $ (89) $428,347

GAAP Gross profit 137,197 — 137,197 Add: Restructuring expenses and other adjustments 575 — 575


GAAP Operating income (loss) 44,865 7,070 51,935 (52,641) (706) Add: Restructuring expenses and other adjustments (1) 713 — 713 — 713 Add: Provision for loss on note receivable — — — 23,008 23,008 Add: Lease guarantee — — — 10,323 10,323 Add: Asset impairment — — — 308 308 Less: Gain on sale of assets (208) (665) (873) — (873)



EBITDA as adjusted $ 63,499 $ 7,314 $ 70,813 $ (18,677) $ 52,136 EBITDA margin as adjusted 20.0% 6.6% 16.5% n/a 12.2% (1) Includes gross profit adjustments of $575 and SG&A adjustments of $138 Nine Months Ended September 30, 2017


Segment Total


GAAP Net sales $289,700 $ 117,836 $407,536 $ (599) $406,937

GAAP Gross profit 119,196 — 119,196 Add: Restructuring expenses and other adjustments 7,079 — 7,079


GAAP Operating income (loss) 30,675 7,742 38,417 (17,532) 20,885 Add: Restructuring expenses and other adjustments (1) 8,158 — 8,158 326 8,484 Add: Asset impairment 544 — 544 — 544 Less: Gain on sale of assets (4,087) — (4,087) — (4,087)


Add: Depreciation and amortization 22,174 866 23,040 926 23,966 Less: Depreciation adjustments (2,017) — (2,017) — (2,017)

EBITDA as adjusted $ 55,447 $ 8,608 $ 64,055 $ (16,280) $ 47,775 EBITDA margin as adjusted 19.1% 7.3% 15.7% n/a 11.7% (1) Includes gross profit adjustments of $7,079 and SG&A adjustments of $1,405


INCOME AND EARNINGS PER DILUTED SHARE (UNAUDITED)(Dollars in thousands, except per share data)

Quarter Ended September 30,

Nine Months Ended September 30,

2018 2017 2018 2017 GAAP Operating income (loss) $ (25,839) $ 6,801 $ (706) $20,885

Add: Restructuring expenses and other adjustments 401 2,730 713 8,484 Add: Charges related to 2015 sale of Lawn & Garden business (1) 33,331 — 33,331 — Add: Asset impairments — — 308 544 Less: Gain on sale of assets — (2,844) (873) (4,087)

Operating income (loss) as adjusted 7,893 6,687 32,773 25,826 Less: Interest expense, net (883) (1,838) (3,835) (5,828)

Income (loss) before taxes as adjusted 7,010 4,849 28,938 19,998 Less: Income tax expense (2) (1,752) (1,746) (7,234) (7,199)

Income (loss) from continuing operations as adjusted $ 5,258 $ 3,103 $21,704 $12,799 Adjusted earnings (loss) per diluted share from continuing operations $ 0.15 $ 0.10 $ 0.65 $ 0.42 (1) Includes $23,008 for provision for loss on note receivable and $10,323 for lease guarantee(2) Income taxes are calculated using the normalized effective tax rate for each year. The rate used in 2018 was 25% and in 2017 was 36%

MYERS INDUSTRIES, INC.RECONCILIATION OF FREE CASH FLOW TO GAAP NET CASH PROVIDED BY

(USED FOR) OPERATING ACTIVITIES—CONTINUING OPERATIONS(UNAUDITED)

(Dollars in thousands) YTD YTD QTD

September 30,

2018 June 30, 2018 September 30, 2018 Net cash provided by (used for) operating activities - continuing operations $ 41,121 – $ 27,223 = $ 13,898

Capital expenditures (3,560) – (2,318) = (1,242)

Free cash flow $ 37,561 – $ 24,905 = $ 12,656

MYERS INDUSTRIES, INC. Third Quarter 2018 Earnings Presentation Exhibit 99.2

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 “expect”, “believe”, “project”, “plan”, “anticipate”, “intend”, “objective”, “outlook”, “target”, “goal”, “view” and similar expressions identify forward-looking statements. These statements are based on management's current views and assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company's control that could cause actual results to materially differ from those expressed or implied. Risks and uncertainties include: raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company's business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities, or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; and other risks as detailed in the Company's 10-K and other reports filed with the Securities and Exchange Commission. Such reports are available on the Securities and Exchange Commission's public reference facilities and its website at www.sec.gov and on the Company's Investor Relations section of its website at www.myersindustries.com. Myers Industries undertakes no obligation to publicly update or revise any forward-looking statements contained herein. These statements speak only as of the date made. The Company refers to certain non-GAAP financialmeasures throughout this presentation. Adjusted EPS, adjusted income per diluted share from continuing operations, adjusted operating income, adjusted gross profit, adjusted EBITDA and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. The Company believes that such information provides an additional measurement and consistent historical comparison of the Company’s performance. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is available in the appendix of this presentation.

2018 Q3 Overview Challenges Achievements Distribution Segment continues to underperform to expectations Sales decline of 6.1% YOY Decline primarily due to lower equipment and international sales Implementing strategic review and broader actions to increase sales force effectiveness and reduce costs Sales to RV customers declined at more rapid rate than anticipated Focusing on funnel of opportunities in adjacent markets as sales decline expected to continue Elevated factory and R&D costs Higher maintenance and repair activity in lower volume period, driven by higher machine utilization in the first half of 2018 Higher R&D expenses for new product launch at end of Q4 Generated free cash flow of $12.7M or 9.4% of sales Net working capital at 5.3% of sales Material Handling sales increased 2.6% YOY Revenue as expected in all key markets with growth coming from industrial and vehicle markets Growth in vehicle market came from increased sales in auto and marine OEM end markets; decline in sales to RV customers higher than expected Adjusted operating income increased 18% YOY Adjusted earnings per share up 50% YOY Continue to reduce net debt Net debt $30.2M; net debt to adjusted EBITDA 0.5x Results reflect continuing operations. See appendix for non-GAAP reconciliations.

Q3 Financial Summary Operating Highlights Net sales up 0.1% Material Handling up $2.5M (+2.6%) Distribution down $2.4M (-6.1%) Adj. Gross profit increased $1.3M to 31.3% Favorable price and mix, partially offset by higher raw material costs Savings from 2017 restructuring initiatives partially offset by higher maintenance costs and labor inefficiencies Adj. Op income up 18.0% to $7.9M Adj. EBITDA up $0.8M to $14.2M, compared to $13.4M in Q3 2017 Adj. EPS $0.15 compared to $0.10 in Q3 2017 GAAP EPS of $(0.60) includes $33.3M of pre-tax charges related to 2015 sale of Lawn & Garden business GAAP Financial Highlights Non-GAAP Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations.

Q3 Segment Results Material Handling Segment Highlights Sales to Industrial market up double-digits Sales to the Vehicle market up low-single-digits driven by increased sales to the automotive and marine OEM markets offset by decline in RV market Sales to Consumer market down mid-single-digits; unusual hurricane volume in 2017 Sales to Food & Beverage market down high-single-digits due to expected lower sales of seed boxes compared to last year Favorable net price and savings from 2017 restructuring partially offset by factory inefficiencies and increased R&D costs related to the new product launching in Q4 Material Handling Financial Highlights Distribution Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations. Distribution Segment Highlights Net sales down 6.1% YOY Decline primarily due to lower equipment and international sales Favorable mix of consumables vs. equipment driving gross margin expansion, partially offset by lower volume Implementing broader set of actions to change the trajectory of the business

Balance Sheet and Cash Flow Cash Flow ($M) and Cash Flow as % of Sales Net Debt ($M) and Net Debt to Adj. EBITDA Target <9% Working Capital as a % of TTM Sales Operating Cash Flow Free Cash Flow (FCF) FCF Target >7% 8.8% 8.6% 9.6% 9.9% Q3 Highlights Strong free cash flow generation of $12.7M, 9.4% of sales YTD free cash flow of $37.6M, 8.8% of sales Reduced net debt by $9.5M Working capital as a percentage of TTM sales consistent with prior quarters Results reflect continuing operations. See appendix for non-GAAP reconciliations.

2018 Outlook 2016 2017 2018 Operating Framework - UPDATE Low single digits High single digits Mid single digits Low single digits Mid to high single digits Year-to-date, experienced increased demand from ag and food processing markets; expecting more normalized demand in Q4 Growth in market share partially offset by 2017 unusual hurricane volume Sales to RV customers slowed faster than anticipated; expecting continued decline in Q4 Industrial volume now expected to be up low-single-digits due to increased sales; expect Q4 to be flat Expect year-to-date declines to continue in the fourth quarter 2018 Full Year Sales Expected to be Flat to Up Low-Single-Digits

Actions over last few years have not yielded improvement in results Executing a broader set of actions to transform the business: Strategic pivot in go-to-market strategy, moving from a single channel to multi-channel sales model, including an enhanced e-commerce platform Optimizing our logistics and distribution infrastructure in order to deliver the highest service levels with the lowest cost-to-serve model in the industry Implementing a wide array of cost savings measures, including product line and fixed cost rationalizations Work is underway; targeting fastest opportunities for value in early stages Investing $1.5 million during the fourth quarter in resources to assist with execution of the actions Strategic Actions for Distribution Segment

Appendix

2018 Key Assumptions Net sales:Flat to up low-single-digits Capital expenditures:$6 - $8 million Net interest expense: $4 - $6 million D&A: ~$26 million Effective tax rate (normalized):~25%

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands)

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED) (Dollars in thousands) Material Handling Distribution Segment Total Corporate & Other Total GAAP Net sales 95,192 $ 40,004 $ 135,196 $ (83) $ 135,113 $ GAAP Gross profit 39,143 — 39,143 Add: Restructuring expenses and other adjustments 1,965 — 1,965 Gross profit as adjusted 41,108 — 41,108 Gross profit margin as adjusted 30.4% n/a 30.4% GAAP Operating income (loss) 10,015 3,179 13,194 (6,393) 6,801 Add: Restructuring expenses and other adjustments (1) 2,404 — 2,404 326 2,730 Less: Gain on sale of assets (2,844) — (2,844) — (2,844) Operating income (loss) as adjusted 9,575 3,179 12,754 (6,067) 6,687 Operating income margin as adjusted 10.1% 7.9% 9.4% n/a 4.9% Add: Depreciation and amortization 6,245 311 6,556 228 6,784 Less: Depreciation adjustments (88) — (88) — (88) EBITDA as adjusted 15,732 $ 3,490 $ 19,222 $ (5,839) $ 13,383 $ EBITDA margin as adjusted 16.5% 8.7% 14.2% n/a 9.9% Quarter Ended September 30,2017 (1) Includes gross profit adjustments of $1,965 and SG&A adjustments of $765

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME AND EARNINGS PER DILUTED SHARE (UNAUDITED) (Dollars in thousands, except per share data)

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF FREE CASH FLOW TO GAAP NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES – CONTINUING OPERATIONS (UNAUDITED) (Dollars in thousands)

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ADJUSTED EBITDA (UNAUDITED) (Dollars in thousands)

Documents

MYERS INDUSTRIES, INC.d18rn0p25nwr6d.cloudfront.net/CIK-0000069488/2954... · In February 2015, the Company sold its Lawn and Garden business to an entity controlled by Wingate Partners