Myers Industries (MYE) KeyBanc Industrials & Basic Materials Conference Presentation summary

Company overview

• Achieved $836M in net sales and $126M in adjusted EBITDA with a 15% margin over the trailing twelve months as of March 31, 2025.

• Material Handling segment accounts for 75% of net revenue, Distribution 25%.

• Operates 16 manufacturing locations, primarily in the US, with ~2,700 employees.

• Holds #1 or #2 positions in diverse, niche markets with 10 strong brands.

• Focuses on innovative, sustainable solutions for industrial, infrastructure, vehicle, consumer, food & beverage, and automotive aftermarket markets.

Segment performance

• Material Handling generated $627M in net sales and $146M in adjusted EBITDA (23% margin), driven by strong military and industrial demand.

• Distribution segment posted $209M in net sales and $7M in adjusted EBITDA (3% margin), with softness due to lower volume and pricing.

• Q1 2025 Material Handling net sales rose 3.6% to $157.7M, while Distribution fell 10.3% to $49.2M.

• Scepter sales in Material Handling exceeded prior year by 30%, offsetting cyclical declines in seed boxes.

• Distribution EBITDA and operating income declined due to lower pricing and volume, partially offset by favorable SG&A.

Financial highlights

• Q1 2025 net sales were $206.8M, essentially flat year-over-year.

• Adjusted gross margin improved to 33.5% and adjusted EBITDA margin to 13.8%.

• Adjusted operating income grew 12.2% to $18.7M; adjusted net income rose 5.5% to $8.4M.

• Diluted adjusted EPS increased 4.8% to $0.22.

• Free cash flow for Q1 was $2.0M; capex was slightly below 4% of sales.