8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 3, 2020

Myers Industries, Inc.

(Exact Name of Registrant as Specified in Charter)

Ohio	001-8524	34-0778636
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1293 South Main Street, Akron, Ohio 44301

(Address of Principal Executive Offices, and Zip Code)

(330) 253-5592

Registrant’s Telephone Number, Including Area Code

(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 the following provisions:

☐ Written communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, without par value	MYE	The New York Stock Exchange

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 this chapter) 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 or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition.

On March 3, 2020, Myers Industries, Inc. (the “Company”) issued a press release announcing earnings results for the fiscal year and quarter ended December 31, 2019. 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, a copy of the presentation which will be discussed during the Company’s earnings conference call at 8:30 a.m. Eastern Time on March 3, 2020, is attached 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 this Current Report on Form 8-K.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02 and Exhibits 99.1 and 99.2 is being furnished and 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 liability of that section. Furthermore, the information in this Item 2.02 and Exhibits 99.1 and 99.2 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended (the “Securities Act”) except as may be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure.

As described in “Item 2.02 Results of Operations and Financial Condition” above, on March 3, 2020, the Company issued a press release announcing earnings results for the fiscal year and quarter ended December 31, 2019, the full text of which is attached as Exhibit 99.1 to this Current Report on Form 8-K. In addition, a copy of the presentation which will be discussed during the Company’s earnings conference call at 8:30 a.m. Eastern Time on March 3, 2020, is attached as Exhibit 99.2 to this Current Report on Form 8-K.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 7.01 and Exhibits 99.1 and 99.2 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. Furthermore, the information in this Item 7.01 and Exhibits 99.1 and 99.2 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act except as may be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit Number	Description
99.1	Press Release dated March 3, 2020
99.2	Earnings Presentation for Fourth Quarter and Full Year 2019 dated March 3, 2020

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 the undersigned hereunto duly authorized.

Myers Industries, Inc.
By:	/s/ Andrean R. Horton
	Andrean R. Horton, Esq.
	Interim President and Chief Executive Officer

Date: March 3, 2020

EX-99.1

Exhibit 99.1

Myers Industries Reports 2019 Fourth Quarter and Full Year Results

Earnings growth in 2019 despite lower sales;

Continued margin improvement; generated free cash flow of $37 million

March 3, 2020, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter and Full Year 2019 Financial Highlights

• GAAP income per diluted share from continuing operations was $0.16 for the fourth quarter and $0.68 for the full year, compared with income of $0.09 and a loss of $0.05 (after $33.3 million of pre-tax charges related to the Company’s Lawn and Garden business, which was sold in 2015), respectively, for the fourth quarter and full year of 2018

• Adjusted income per diluted share from continuing operations was $0.12 for the fourth quarter and $0.78 for the full year, compared with $0.13 and $0.76, respectively, for the fourth quarter and full year of 2018

• Net sales for the fourth quarter decreased 15.6% to $116.8 million, compared with $138.4 million for the fourth quarter of 2018; net sales for the full year decreased 9.0% to $515.7 million, compared with $566.7 million for the full year of 2018

• Gross margin increased to 33.6% for the fourth quarter and 33.2% for the full year, compared with 30.4% and 31.6%, respectively for the fourth quarter and full year of 2018

• Generated cash flow from continuing operations of $47.0 million and free cash flow of $36.7 million for the full year of 2019

• Completed acquisition of Tuffy Manufacturing for $18 million in August 2019

“During 2019, our team delivered improved bottom line performance and continued margin expansion, despite being challenged by a number of headwinds across our businesses and a leadership change,” said Andrean Horton, Interim President and Chief Executive Officer of Myers Industries. “Importantly, the Distribution Segment continued to successfully execute on its transformation plan, integrated the recent Tuffy acquisition and increased sales and adjusted EBITDA margin. In our Material Handling Segment, we continued to drive margin improvement despite softness in key end markets across the business, including a shift in agricultural demand, wet weather conditions in our consumer market and a weaker vehicle market. While we expect some of these uncertainties will carry into 2020, we do see opportunity as we gain traction in some of our adjacent markets.”

“Our teams remain committed to meeting our customers’ needs, operating with an above-average safety record and building an engaged and focused culture. In the fourth quarter, our Board of Directors commenced a search to identify a permanent CEO and our goal is to conclude this process as quickly as possible. We continue to focus on achieving our strategic objectives and generating profitable growth for our shareholders.”

Fourth Quarter 2019 Financial Summary

Net sales for the 2019 fourth quarter decreased $21.6 million or 15.6% to $116.8 million, compared with $138.4 million for the fourth quarter of 2018. The decrease was the result of significant challenges across key markets in the Material Handling Segment. Gross profit decreased to $39.2 million, compared with $42.1 million in 2018. However, gross profit margin increased to 33.6% compared with 30.4% last year as favorable price-cost margin and productivity improvements more than offset the lower sales volume during the quarter. Selling, general and administrative expenses decreased $4.6 million to $30.3 million, compared with $35.0 million in 2018, due primarily to lower compensation costs and savings from the transformation initiatives in the Distribution Segment. GAAP income per diluted share from continuing operations was $0.16, compared to $0.09 for the fourth quarter of 2018. Adjusted income per diluted share from continuing operations was $0.12, compared to $0.13 for the fourth quarter of 2018.

Net sales in the Material Handling Segment (consumer, food and beverage, industrial and vehicle end markets) for the fourth quarter of 2019 were $73.4 million, a decrease of $26.1 million or 26.2%, compared with $99.6 million in 2018. The decrease was due to sales declines across all end markets, but primarily in the Company’s food and beverage (lower seed box sales) end market. For the fourth quarter, adjusted EBITDA declined to $14.0 million, compared with $19.3 million in 2018. The lower volume was partially offset by favorable price-cost margin, productivity improvements and lower variable incentive compensation costs. The Material Handling Segment’s adjusted EBITDA margin for the fourth quarter was 19.1% compared to 19.4% for the fourth quarter of 2018.

Net sales in the Distribution Segment (auto aftermarket end market) for the fourth quarter of 2019 were $43.4 million, an increase of $4.6 million or 11.8%, compared with $38.8 million in 2018. The increase was due mostly to incremental sales from the August 2019 acquisition of Tuffy Manufacturing, Inc. Fourth quarter adjusted EBITDA increased to $3.8 million compared with $0.6 million in 2018, due primarily to savings from the segment’s transformation initiatives and the Tuffy acquisition. The Distribution Segment’s adjusted EBITDA margin for the fourth quarter was 8.8% compared to 1.6% for the fourth quarter of 2018.

Full Year 2019 Financial Summary

Net sales for the full year 2019 decreased $51.0 million or 9.0% to $515.7 million, compared with $566.7 million in 2018. Gross profit decreased to $171.3 million, compared with $179.3 million in 2018. However, gross profit margin increased 160 basis points to 33.2%. Favorable price-cost margin and productivity improvements more than offset the lower sales volume and a $3.5 million charge taken during the third quarter of 2019 for estimated product replacement costs. Selling, general and administrative expenses decreased to $133.1 million, compared with $139.3 million in 2018, due primarily to lower compensation costs and savings from the transformation initiatives in the Distribution Segment. GAAP income per diluted share from continuing operations was $0.68, compared with a loss of $0.05 for the full year of 2018, when the Company recognized $33.3 million of charges related to its Lawn and Garden business which was sold in 2015. Adjusted income per diluted share from continuing operations was $0.78, compared with $0.76 in 2018.

Net sales in the Material Handling Segment for the full year of 2019 were $356.4 million, a decrease of $60.8 million or 14.6%, compared with 2018. The decrease was due to lower sales across all end markets, but primarily in the Company’s food and beverage (lower seed box sales) end market. The segment’s adjusted EBITDA declined 8.9% to $75.5 million for the full year of 2019, compared with $82.8 million in 2018. The lower sales volume and charge for estimated product replacement costs were partially offset by favorable price-cost margin, productivity improvements and lower variable incentive compensation costs. The Material Handling Segment’s adjusted EBITDA margin for the full year increased 130 basis points to 21.2%, compared with 19.9% in 2018.

Net sales in the Distribution Segment for the full year of 2019 were $159.3 million, an increase of $9.7 million or 6.5%, compared with 2018, mostly due to incremental sales from the August 2019 Tuffy acquisition. The segment’s adjusted EBITDA increased 60.0% to $12.7 million compared with $7.9 million in 2018, due primarily to savings from the segment’s transformation initiatives and the Tuffy acquisition. The Distribution Segment’s adjusted EBITDA margin for the full year increased 270 basis points to 8.0%, compared with 5.3% in 2018.

2020 Outlook

The Company anticipates that total revenue will be up mid-single digits year-over-year. The Company anticipates that approximately half of the sales increase will come from incremental sales due to the August 2019 Tuffy acquisition, while the other half of the sales increase will come from the continued transformation in Distribution and improving demand in select markets in Material Handling, including food processing. The Company anticipates depreciation and amortization to be approximately $21 million, net interest expense to be approximately $4 million, and the effective tax rate to be approximately 27%. GAAP income per diluted share from continuing operations is estimated to be in the range of $1.05 to $1.15 and adjusted income per diluted share from continuing operations is estimated to be in the range of $0.85 to $0.95. As previously disclosed, during the first quarter of 2020, the Company will recognize a pre-tax gain of approximately $11.9 million as a result of a sale of notes and release of a lease guarantee liability. The pre-tax gain will be excluded from adjusted earnings. Both the GAAP and adjusted earnings outlooks are based on a diluted share count of 36 million shares. Capital expenditures are anticipated to be approximately $15 million.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Tuesday, March 3, 2020, at 8:30 a.m. ET. The call is anticipated to last approximately one hour and may be accessed by dialing: (US) 833-233-3452 or (Int’l) 647-689-4129. The Conference ID # is 6763017. Callers are asked 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 the Company’s website at www.myersindustries.com. Click on the Investor Relations tab to access the webcast. Webcast attendees will be in a listen-only mode. 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 6763017.

Use of Non-GAAP Financial Measures

The Company uses certain non-GAAP measures in this release. Adjusted income per diluted share from continuing operations, operating income as adjusted, income from continuing operations as adjusted, EBITDA as adjusted, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, adjusted EPS 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. Myers Industries 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 this news release.

About Myers Industries

Myers Industries, Inc. is a manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets. The Company is also the largest distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the United States. Visit www.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 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.

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						Year Ended
	December 31, 2019			December 31, 2018			December 31, 2019		December 31, 2018
Net sales	$	116,818		$	138,388		$	515,698	$	566,735
Cost of sales		77,587			96,292			344,386		387,442
Gross profit		39,231			42,096			171,312		179,293
Selling, general and administrative expenses		30,338			34,975			133,130		139,335
(Gain) loss on disposal of fixed assets		87			88			—		(8	)
Impairment charges		—			—			916		308
Other expenses		—			—			—		33,331
Operating income (loss)		8,806			7,033			37,266		6,327
Interest expense, net		1,024			1,103			4,083		4,938
Income (loss) from continuing operations before income taxes		7,782			5,930			33,183		1,389
Income tax expense (benefit)		2,035			2,804			8,968		3,037
Income (loss) from continuing operations		5,747			3,126			24,215		(1,648	)
Income (loss) from discontinued operations, net of income tax		(9	)		(788	)		118		(1,701	)
Net income (loss)	$	5,738		$	2,338		$	24,333	$	(3,349	)
Income (loss) per common share from continuing operations:
Basic	$	0.16		$	0.09		$	0.68	$	(0.05	)
Diluted	$	0.16		$	0.09		$	0.68	$	(0.05	)
Income (loss) per common share from discontinued operations:
Basic	$	—		$	(0.02	)	$	—	$	(0.05	)
Diluted	$	—		$	(0.02	)	$	—	$	(0.05	)
Net income (loss) per common share:
Basic	$	0.16		$	0.07		$	0.68	$	(0.10	)
Diluted	$	0.16		$	0.07		$	0.68	$	(0.10	)
Weighted average common shares outstanding:
Basic		35,611,892			35,355,863			35,491,958		33,426,855
Diluted		35,724,633			35,576,611			35,653,147		33,426,855

MYERS INDUSTRIES, INC.

SALES AND EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

	Quarter Ended December 31,									Year Ended December 31,
	2019			2018			% Change			2019			2018			% Change
Net sales
Material Handling	$	73,444		$	99,578			(26.2	)%	$	356,407		$	417,199			(14.6	)%
Distribution		43,392			38,821			11.8	%		159,349			149,636			6.5	%
Inter-company Sales		(18	)		(11	)		—			(58	)		(100	)		—
Total	$	116,818		$	138,388			(15.6	)%	$	515,698		$	566,735			(9.0	)%
Operating income (loss)
Material Handling	$	8,963		$	13,083			(31.5	)%	$	53,144		$	57,948			(8.3	)%
Distribution		3,153			371			749.9	%		10,076			7,441			35.4	%
Corporate		(3,310	)		(6,421	)		—			(25,954	)		(59,062	)		—
Total	$	8,806		$	7,033			25.2	%	$	37,266		$	6,327			489.0	%
Operating income (loss) as adjusted
Material Handling	$	8,963		$	13,501			(33.6	)%	$	54,232		$	58,871			(7.9	)%
Distribution		3,171			371			754.6	%		11,215			6,776			65.5	%
Corporate		(4,995	)		(6,220	)		—			(23,404	)		(25,222	)		—
Total	$	7,139		$	7,652			(6.7	)%	$	42,043		$	40,425			4.0	%
Operating income margin as adjusted
Material Handling		12.2	%		13.6	%					15.2	%		14.1	%
Distribution		7.3	%		1.0	%					7.0	%		4.5	%
Corporate		n/a			n/a						n/a			n/a
Total		6.1	%		5.5	%					8.2	%		7.1	%
EBITDA as adjusted
Material Handling	$	14,029		$	19,318			(27.4	)%	$	75,470		$	82,816			(8.9	)%
Distribution		3,798			631			501.9	%		12,716			7,945			60.0	%
Corporate		(4,890	)		(6,120	)		—			(22,991	)		(24,796	)		—
Total	$	12,937		$	13,829			(6.5	)%	$	65,195		$	65,965			(1.2	)%
EBITDA margin as adjusted
Material Handling		19.1	%		19.4	%					21.2	%		19.9	%
Distribution		8.8	%		1.6	%					8.0	%		5.3	%
Corporate		n/a			n/a						n/a			n/a
Total		11.1	%		10.0	%					12.6	%		11.6	%

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)

(Dollars in thousands)

	Quarter Ended December 31, 2019
	Material Handling			Distribution			Segment Total			Corporate & Other			Total
GAAP Net sales	$	73,444		$	43,392		$	116,836		$	(18	)	$	116,818
GAAP Gross profit								39,231			—			39,231
Add: Restructuring expenses and other adjustments								—			—			—
Gross profit as adjusted								39,231			—			39,231
Gross profit margin as adjusted								33.6	%		n/a			33.6	%
GAAP Operating income (loss)		8,963			3,153			12,116			(3,310	)		8,806
Add: Restructuring expenses and other adjustments		—			—			—			265			265
Add: Tuffy acquisition costs		—			18			18			81			99
Less: CEO stock award reversal		—			—			—			(2,031	)		(2,031	)
Operating income (loss) as adjusted		8,963			3,171			12,134			(4,995	)		7,139
Operating income margin as adjusted		12.2	%		7.3	%		10.4	%		n/a			6.1	%
Add: Depreciation and amortization		5,066			627			5,693			105			5,798
Less: Depreciation adjustments		—			—			—			—			—
EBITDA as adjusted	$	14,029		$	3,798		$	17,827		$	(4,890	)	$	12,937
EBITDA margin as adjusted		19.1	%		8.8	%		15.3	%		n/a			11.1	%
	Quarter Ended December 31, 2018
	Material Handling			Distribution			Segment Total			Corporate & Other			Total
GAAP Net sales	$	99,578		$	38,821		$	138,399		$	(11	)	$	138,388
GAAP Gross profit								42,096			—			42,096
Add: Restructuring expenses and other adjustments								171			—			171
Gross profit as adjusted								42,267			—			42,267
Gross profit margin as adjusted								30.5	%		n/a			30.5	%
GAAP Operating income (loss)		13,083			371			13,454			(6,421	)		7,033
Add: Restructuring expenses and other adjustments(1)		418			—			418			201			619
Operating income (loss) as adjusted		13,501			371			13,872			(6,220	)		7,652
Operating income margin as adjusted		13.6	%		1.0	%		10.0	%		n/a			5.5	%
Add: Depreciation and amortization		5,883			260			6,143			100			6,243
Less: Depreciation adjustments		(66	)		—			(66	)		—			(66	)
EBITDA as adjusted	$	19,318		$	631		$	19,949		$	(6,120	)	$	13,829
EBITDA margin as adjusted		19.4	%		1.6	%		14.4	%		n/a			10.0	%

(1) Includes gross profit adjustments of $171 and SG&A adjustments of $448

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

GROSS PROFIT, OPERATING INCOME AND EBITDA (UNAUDITED)

(Dollars in thousands)

	Year Ended December 31, 2019
	Material Handling			Distribution			Segment Total			Corporate & Other			Total
GAAP Net sales	$	356,407		$	159,349		$	515,756		$	(58	)	$	515,698
GAAP Gross profit								171,312			—			171,312
Add: Restructuring expenses and other adjustments								172			—			172
Gross profit as adjusted								171,484			—			171,484
Gross profit margin as adjusted								33.2	%		n/a			33.3	%
GAAP Operating income (loss)		53,144			10,076			63,220			(25,954	)		37,266
Add: Restructuring expenses and other adjustments(1)		172			865			1,037			265			1,302
Add: Tuffy acquisition costs		—			274			274			316			590
Add: Asset impairment		916			—			916			—			916
Add: Environmental charges		—			—			—			4,000			4,000
Less: CEO stock award reversal		—			—			—			(2,031	)		(2,031	)
Operating income (loss) as adjusted		54,232			11,215			65,447			(23,404	)		42,043
Operating income margin as adjusted		15.2	%		7.0	%		12.7	%		n/a			8.2	%
Add: Depreciation and amortization		21,282			1,501			22,783			413			23,196
Less: Depreciation adjustments		(44	)		—			(44	)		—			(44	)
EBITDA as adjusted	$	75,470		$	12,716		$	88,186		$	(22,991	)	$	65,195
EBITDA margin as adjusted		21.2	%		8.0	%		17.1	%		n/a			12.6	%

(1) Includes gross profit adjustments of $172 and SG&A adjustments of $1,130

	Year Ended December 31, 2018
	Material Handling			Distribution			Segment Total			Corporate & Other			Total
GAAP Net sales	$	417,199		$	149,636		$	566,835		$	(100	)	$	566,735
GAAP Gross profit								179,293			—			179,293
Add: Restructuring expenses and other adjustments								746			—			746
Gross profit as adjusted								180,039			—			180,039
Gross profit margin as adjusted								31.8	%		n/a			31.8	%
GAAP Operating income (loss)		57,948			7,441			65,389			(59,062	)		6,327
Add: Restructuring expenses and other adjustments(1)		1,131			—			1,131			—			1,131
Add: Charges related to 2015 sale of Lawn & Garden business(2)		—			—			—			33,331			33,331
Add: Environmental charges		—			—			—			201			201
Add: Asset impairment		—			—			—			308			308
Add: Loss (gain) on sale of assets		(208	)		(665	)		(873	)		—			(873	)
Operating income (loss) as adjusted		58,871			6,776			65,647			(25,222	)		40,425
Operating income margin as adjusted		14.1	%		4.5	%		11.6	%		n/a			7.1	%
Add: Depreciation and amortization		24,158			1,169			25,327			426			25,753
Less: Depreciation adjustments		(213	)		—			(213	)		—			(213	)
EBITDA as adjusted	$	82,816		$	7,945		$	90,761		$	(24,796	)	$	65,965
EBITDA margin as adjusted		19.9	%		5.3	%		16.0	%		n/a			11.6	%

(1) Includes gross profit adjustments of $746 and SG&A adjustments of $385

(2) Includes $23,008 for provision for loss on note receivable and $10,323 for lease guarantee

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME AND EARNINGS PER DILUTED SHARE (UNAUDITED)

(Dollars in thousands, except per share data)

	Quarter Ended December 31,						Year Ended December 31,
	2019			2018			2019			2018
GAAP Operating income (loss)	$	8,806		$	7,033		$	37,266		$	6,327
Add: Restructuring expenses and other adjustments		265			619			1,302			1,131
Add: Tuffy acquisition costs		99			—			590			—
Less: CEO stock award reversal		(2,031	)		—			(2,031	)		—
Add: Asset impairments		—			—			916			308
Add: Environmental charges		—			—			4,000			201
Add: Charges related to 2015 sale of Lawn & Garden business(1)		—			—			—			33,331
Add: Loss (gain) on sale of assets		—			—			—			(873	)
Operating income as adjusted		7,139			7,652			42,043			40,425
Less: Interest expense, net		(1,024	)		(1,103	)		(4,083	)		(4,938	)
Income before taxes as adjusted		6,115			6,549			37,960			35,487
Less: Income tax expense(2)		(1,651	)		(1,781	)		(10,249	)		(9,652	)
Income from continuing operations as adjusted	$	4,464		$	4,768		$	27,711		$	25,835
Adjusted earnings per diluted share from continuing operations(3)	$	0.12		$	0.13		$	0.78		$	0.76

(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 2019 is 27% and in 2018 was 27.2%.

(3) Adjusted earnings per diluted share for year ended December 31, 2018 was calculated using 33,825,370 shares.

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(Dollars in thousands)

	December 31, 2019		December 31, 2018
Assets
Current Assets
Cash	$	75,527	$	58,894
Accounts receivable, net		62,279		72,939
Income tax receivable		142		4,892
Inventories, net		44,260		43,596
Prepaid expenses and other current assets		2,834		2,534
Total Current Assets		185,042		182,855
Property, plant, & equipment, net		54,964		65,460
Right of use asset - operating leases		5,901		—
Deferred income taxes		5,807		5,270
Other assets		101,425		95,060
Total Assets	$	353,139	$	348,645
Liabilities & Shareholders’ Equity
Current Liabilities
Accounts payable	$	46,867	$	60,849
Accrued expenses		33,701		36,574
Operating lease liability - short-term		2,057		—
Total Current Liabilities		82,625		97,423
Long-term debt		77,176		76,790
Operating lease liability - long-term		4,074		—
Other liabilities		22,582		19,794
Total Shareholders’ Equity		166,682		154,638
Total Liabilities & Shareholders’ Equity	$	353,139	$	348,645

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

	Year Ended December 31,
	2019			2018
Cash Flows From Operating Activities
Net income (loss)	$	24,333		$	(3,349	)
Income (loss) from discontinued operations, net of income taxes		118			(1,701	)
Income (loss) from continuing operations		24,215			(1,648	)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used for) operating activities
Depreciation		15,120			17,638
Amortization		8,463			8,485
Accelerated depreciation associated with restructuring activities		—			16
Non-cash stock-based compensation expense		1,715			4,257
(Gain) loss on disposal of fixed assets		—			(8	)
Provision for loss on note receivable		—			23,008
Lease guarantee contingency		—			10,323
Deferred taxes		(922	)		(9,450	)
Interest income accrued on note receivable		—			(361	)
Impairment charges		916			308
Other		583			457
Payments on performance based compensation		(413	)		(1,249	)
Other long-term liabilities		3,578			180
Cash flows provided by (used for) working capital
Accounts receivable		12,479			4,927
Inventories		2,222			3,151
Prepaid expenses and other current assets		(243	)		(353	)
Accounts payable and accrued expenses		(20,687	)		713
Net cash provided by (used for) operating activities - continuing operations		47,026			60,394
Net cash provided by (used for) operating activities - discontinued operations		7,297			858
Net cash provided by (used for) operating activities		54,323			61,252
Cash Flows From Investing Activities
Capital expenditures		(10,294	)		(5,123	)
Acquisition of business		(18,000	)		—
Proceeds from sale of property, plant and equipment		7,537			2,633
Net cash provided by (used for) investing activities - continuing operations		(20,757	)		(2,490	)
Net cash provided by (used for) investing activities - discontinued operations		—			—
Net cash provided by (used for) investing activities		(20,757	)		(2,490	)
Cash Flows From Financing Activities
Net repayments of credit facility		—			(74,557	)
Cash dividends paid		(19,316	)		(17,862	)
Proceeds from issuance of common stock		3,336			2,853
Proceeds from public offering of common stock, net of equity issuance costs		—			79,522
Shares withheld for employee taxes on equity awards		(1,008	)		(714	)
Net cash provided by (used for) financing activities - continuing operations		(16,988	)		(10,758	)
Net cash provided by (used for) financing activities - discontinued operations		—			—
Net cash provided by (used for) financing activities		(16,988	)		(10,758	)
Foreign exchange rate effect on cash		55			(289	)
Net increase in cash and restricted cash		16,633			47,715
Cash and restricted cash at January 1		58,894			11,179
Cash and restricted cash at December 31	$	75,527		$	58,894

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 December 31, 2019				YTD December 31, 2018
Net cash provided by (used for) operating activities - continuing operations	$	47,026			$	60,394
Capital expenditures		(10,294	)			(5,123	)
Free cash flow	$	36,732			$	55,271
	YTD December 31, 2019				YTD September 30, 2019				Quarter December 31, 2019
Net cash provided by (used for) operating activities - continuing operations	$	47,026		-	$	39,492		=	$	7,534
Capital expenditures		(10,294	)	-		(5,669	)	=		(4,625	)
Free cash flow	$	36,732		-	$	33,823		=	$	2,909
	YTD December 31, 2018				YTD September 30, 2018				Quarter December 31, 2018
Net cash provided by (used for) operating activities - continuing operations	$	60,394		-	$	41,121		=	$	19,273
Capital expenditures		(5,123	)	-		(3,560	)	=		(1,563	)
Free cash flow	$	55,271		-	$	37,561		=	$	17,710

EX-99.2

MYERS INDUSTRIES, INC. Fourth Quarter & Full Year 2019 Earnings Presentation 21 54 91 142 184 230 56 67 73 Font Color 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 financial measures throughout this presentation. Adjusted EPS, adjusted income per diluted share from continuing operations, adjusted operating income, adjusted gross profit, adjusted EBITDA, adjusted EBITDA margin 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. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures are available in the appendix of this presentation.

2019 Full Year Overview Challenges Achievements Distribution Segment transformation actions delivered results Sales increased 6.5% compared to 2018 Increase was 1.7% excluding the Tuffy acquisition Adjusted EBITDA margin increased 270 bps to 8.0% Completed acquisition of Tuffy Manufacturing Industries, Inc. in August 2019 for $18M Material Handling Segment delivered margin improvement despite challenges Adjusted EBITDA margin increased 130 bps to 21.2% Adjusted operating income increased by 4.0%, despite a 9.0% decline in net sales Generated free cash flow of $36.7M Sales declined across all end markets in the Material Handling Segment Sales declined in our Consumer end market due to softer demand for fuel containers as a result of an unprecedented wet spring season Shifts in agricultural demand and a consolidation of customers led to lower seed box sales in our Food and Beverage end market The multi-year correction in the RV market led to continued lower sales to RV customers resulting in a year-over-year decline in our Vehicle end market Industrial end market sales were lower due to an overall weaker demand environment, especially during Q4 Recorded a $3.5M charge in Q3 for estimated product replacement costs related to a manufacturing defect No additional charges were recorded in Q4 Results reflect continuing operations. See appendix for non-GAAP reconciliations.

Q4 2019 Financial Summary Operating Highlights Net sales down 15.6%, compared to Q4 2018 Material Handling down $26.1M (-26.2%) Distribution up $4.6M (+11.8%) Adjusted gross profit margin expanded to 33.6% from 30.5% Favorable price-cost margin and productivity improvements Adjusted op income down 6.7% to $7.1M, compared to $7.7M in Q4 2018 Adjusted op income margin increased due to higher gross margin, savings from Distribution Segment transformation and lower incentive compensation costs Adjusted EBITDA down 6.5% to $12.9M, compared to $13.8 million in Q4 2018 Adjusted EPS of $0.12, compared to $0.13 in Q4 2018 GAAP Financial Highlights Non-GAAP Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations.

Material Handling Segment Net sales down 26.2% vs. Q4 2018 Food and Beverage end market down double digits due to lower seed box sales Consumer end market down mid-teens due to continued soft demand for fuel containers Industrial end market down mid-teens due to a weak overall demand environment Vehicle end market down mid-teens due to slowing demand from automotive OEMs Lower sales volume more than offset favorable price-cost margin, productivity gains and lower incentive compensation Q4 Segment Results Material Handling Financial Highlights Distribution Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations. Distribution Segment Net sales up 11.8% vs. Q4 2018 due primarily to incremental sales from the Tuffy acquisition Adjusted EBITDA up $3.2 million as a result of savings from transformation initiatives and Tuffy acquisition Segment on track to deliver 10% EBITDA margin by the end of 2020 as a result of executing its transformation plan

Working Capital as a % of TTM Sales Balance Sheet and Cash Flow Cash Flow ($M) and Cash Flow as % of Sales Total Debt ($M) and Debt to Adj. EBITDA Operating Cash Flow Free Cash Flow (FCF) 7.1% 9.8% 9.1% 10.7% 1.2x 2019 Highlights Free cash flow generation of $36.7M, compared to $55.3M last year Decrease in accounts payable and accrued liabilities due to lower sales volume and variable compensation accruals Increase in capital spending year-over-year Working capital as a percentage of sales remains consistent with previous quarters Results reflect continuing operations. See appendix for non-GAAP reconciliations.

2019 % of Total Sales 2020 Expectations Low-single digits High-single digits Low-single digits Low-single digits Low-teens Anticipate increased demand from seed box customers following soft prior year season; expect continued higher sales to food processing customers Expect sales of fuel containers to be up as a result of improved end-market demand following weak demand in 2019 due to a wet spring season Expect increased sales to RV customers to be more than offset by lower sales to automotive customers due primarily to fewer new model launches and redesigns by large customers Anticipate higher sales due to growth in e-commerce and share gains associated with expanded market coverage Sales expected to increase as a result of Tuffy acquisition and continued execution of strategic initiatives Sales anticipated to be up mid-single digits 2020 Fiscal Year Sales Outlook 2020 Operating Framework

2020 Fiscal Year Guidance Net sales growth:~ Up mid-single digits D&A: ~ $21M Net interest expense:~ $4M Effective tax rate (normalized):~ 27% Diluted share count:~ 36M Diluted EPS:$1.05 - $1.15 Adjusted diluted EPS: $0.85 - $0.95 Capital expenditures: ~ $15M

Appendix

2019 Full Year Financial Summary Operating Highlights Net sales down 9.0%, compared to 2018 Material Handling down $60.8M (-14.6%) Distribution up $9.7M (+6.5%) Adjusted gross profit margin expanded to 33.3% from 31.8% Favorable price-cost margin and productivity gains offset lower volume and $3.5M charge recorded during Q3 for estimated product replacement costs Adjusted op income up 4.0% to $42.0M, compared to $40.4M in 2018 Higher gross margin, lower incentive compensation costs and savings from Distribution Segment transformation Adjusted EBITDA down 1.2% to $65.2M, compared to $66.0 million in 2018 Adjusted EPS of $0.78, compared to $0.76 in 2018 GAAP Financial Highlights Non-GAAP Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations.

2019 Full Year Segment Results Material Handling Financial Highlights Distribution Financial Highlights Results reflect continuing operations. See appendix for non-GAAP reconciliations. Distribution Segment Net sales up 6.5% vs. 2018 Sales up 1.7% excluding Tuffy acquisition Adjusted EBITDA up $4.8 million as a result of savings from transformation initiatives, higher sales volume and Tuffy acquisition Segment on track to deliver 10% EBITDA margin by the end of 2020 as a result of executing its transformation plan Material Handling Segment Net sales down 14.6% vs. 2018 Food and Beverage end market down double digits due to lower seed box sales Consumer end market down high-single digits due to decreased demand for fuel containers resulting from wet spring season Industrial end market down mid-single digits due primarily to a weak overall demand environment, especially during Q4 Vehicle end market down mid-teens due to continued RV market decline and slowing demand from automotive OEMs Lower sales volume and $3.5M charge in Q3 for estimated product replacement costs more than offset favorable price-cost margin, productivity gains and lower incentive compensation costs

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)

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 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 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 AND DEBT (UNAUDITED) (Dollars in thousands)

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