8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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) April 24, 2014

MYERS INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Ohio	1-8524	34-0778636
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification 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 the following 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))

Item 2.02. Results of Operations and Financial Condition

On April 24, 2014, Myers Industries, Inc. (the “Company”) issued a press release announcing earnings results for the quarter ended March 31, 2014. 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 slide materials which will be discussed during the Company’s earnings conference call at 10:00 a.m. Eastern Time on April 24, 2014 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.

The information in this report (including the exhibit) is furnished pursuant to “Item 2.02. Results of Operations and Financial Condition” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, unless incorporated by specific reference in such 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

      99.1        Press Release by the Company regarding earnings results dated April 24, 2014

      99.2        Earnings Presentation First Quarter 2014 by the Company dated April 24, 2014

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.

(Registrant)

DATE April 24, 2014	By:	/s/ Greggory W. Branning
		Greggory W. Branning
		Senior Vice President, Chief Financial Officer and Corporate Secretary

EX-99.1

Exhibit 99.1

	News Release
	NYSE: MYE

Contact(s):

Gregg Branning, Senior Vice President

& Chief Financial Officer (330) 761-6303

Monica Vinay, Vice President, Investor

Relations & Treasurer (330) 761-6212

Myers Industries Reports 2014 First Quarter Results

• Net Sales decreased 2.9% compared to last year’s first quarter, primarily due to poor weather and transportation issues

• Diluted adjusted EPS of $0.16 per share for the first quarter of 2014 compared to $0.24 per share for the first quarter of 2013

• Extremely poor weather conditions and transportation issues negatively impacted net sales by approximately $9.6 million and resulted in a decrease in net income of approximately $2.5 million or $0.07 per share

• Material Handling Segment’s net sales and adjusted income before taxes rose 13% and 10%, respectively

• Expect year-over-year adjusted EPS growth for second quarter and full year 2014

April 24, 2014, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE) today announced results for the first quarter ended March 31, 2014.

Summary

	For the Quarter Ended
	March 31, 2014			March 31, 2013
	(Dollars in thousands, except per share data)
Net sales	$	208,789		$	214,980
Gross profit	$	50,028		$	58,318
Gross profit margin		24.0	%		27.1	%
Income before taxes	$	1,060		$	12,152
Net Income:
Income	$	680		$	7,883
Income per diluted share	$	0.02		$	0.23
Gross profit as adjusted*	$	55,889		$	58,483
Gross profit margin as adjusted*		26.8	%		27.2	%
Income before taxes as adjusted*		8,502		$	12,860
Net income as adjusted*:
Income	$	5,441		$	8,102
Income per diluted share	$	0.16		$	0.24

* Details regarding the pre-tax adjusted charges are provided on the Reconciliation of Non-GAAP Financial Measures included in this release.

• Net sales in the first quarter of 2014 decreased 2.9% to $208.8 million compared to $215.0 million in the first quarter of 2013.

• The gross profit margin as adjusted was 26.8% in the first quarter of 2014 compared to 27.2% in the first quarter of 2013.

• Adjusted net income per diluted share was $0.16 in the first quarter of 2014 compared to $0.24 in the first quarter of 2013.

President and Chief Executive Officer John C. Orr said, “Extremely poor weather conditions and transportation issues during most of the first quarter negatively impacted sales by approximately $9.6 million and net income by approximately $2.5 million or $0.07 per share. We lost multiple selling and production days, particularly in January and February, with our Lawn and Garden Segment being the most impacted. Despite this difficult start to the year, the Material Handling Segment performed well and we were encouraged by our performance in March. We continue to anticipate that our full year 2014 results will show another year of improved earnings.”

“In February, we announced that the Board of Directors increased the Company’s first quarter dividend by 44% and approved a $40 million share repurchase which is expected to be completed in 2014. The dividend increase and share repurchase show our commitment to returning capital to shareholders while we invest in new product development and cost improvement.”

Segment Results

The results below are as adjusted and exclude restructuring and other unusual pre-tax charges as detailed on the Reconciliation of Non-GAAP Financial Measures included in this release.

Net sales in the Material Handling Segment for the first quarter of 2014 increased 13% to $90.6 million compared to $80.0 million for the first quarter of 2013 as a result of strong sales to the food processing and agricultural end markets. Material Handling’s adjusted income before taxes was $10.9 million for the first quarter of 2014 compared to $9.9 million for the first quarter of 2013, an increase of 10%. Improved income from the higher sales volume was partially offset by a less favorable sales mix year-over-year.

Net sales in the Lawn and Garden Segment for the first quarter of 2014 were $49.8 million compared to $60.4 million for the first quarter of 2013. Lawn and Garden’s adjusted loss before taxes for the first quarter of 2014 was $0.1 million compared to adjusted income before taxes of $2.7 million for the first quarter of 2013. Extremely poor weather conditions and transportation issues severely impacted the segment’s sales and operations. Additionally, startup inefficiencies in phase two of the segment’s restructuring project more than offset $1.8 million of savings that were generated from phases one and two of the project during the first quarter. The Company continues to estimate that the total savings from the restructuring project will be $13.0 million on an annualized basis.

Net sales in the Distribution Segment were $39.7 million for the first quarter of 2014 compared to $42.6 million for the first quarter of 2013. Sales were lower year-over-year primarily as a result of poor weather and the closure of the segment’s Canadian branches which took place in the first quarter of 2014. Distribution’s adjusted income before taxes was $2.9 million for the first quarter of 2014 and for the first quarter of 2013. A more favorable product mix offset the decrease in income from the lower sales volume during the quarter.

Net sales in the Engineered Products Segment were $32.7 million for the first quarter of 2014 compared to $37.0 million for the first quarter of 2013. Lower sales volumes in both custom and transplant auto sales compared to last year were partially offset by strong RV and marine sales. Engineered Products’ adjusted income before taxes was $3.8 million for the first quarter of 2014 compared to $5.1 million for the first quarter of 2013. The decline in sales was the primary reason for the lower income before taxes year-over-year.

Other Financial Items

Capital expenditures totaled $4.7 million for the three months ended March 31, 2014 and are forecasted to be approximately $35 to $40 million for the full year of 2014.

The Company purchased $5.1 million of its common stock in the quarter ended March 31, 2014.

2014 Outlook

Driven by productivity improvements, cost savings and benefits from the Lawn and Garden Segment’s restructuring initiatives, the Company anticipates that full year adjusted earnings (excluding restructuring and other unusual pre-tax charges) will increase year-over-year.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Thursday, April 24, 2014 at 10:00 a.m. ET. The call is anticipated to last approximately one hour and may be accessed at (877) 407-8033. Callers are asked to sign on at least five minutes in advance. The call will be available as a webcast through the Company’s web site, 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 a telephone replay, callers should dial: (US) 877-660-6853 or (Int’l) 201-612-7415. The replay passcode is Conference ID #13580122.

About Myers Industries

Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment and supplies for the tire, wheel and under vehicle service industry in the U.S. Visit www.myersindustries.com to learn more.

Caution on Forward-Looking Statements

Statements in this release may 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”, “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: changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; raw material availability, increases in raw material costs, or other production costs; harsh weather conditions; 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; the Company’s ability to execute the components of its Strategic Business Evolution process; 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 web site at http://www.sec.gov, and on the Company’s Investor Relations section of its web site at http://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.

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

FOR THE QUARTER ENDED MARCH 31, 2014 AND 2013

(Dollars in thousands, except share data)

	For the Quarter Ended
	March 31, 2014		March 31, 2013
Net sales	$	208,789	$	214,980
Cost of sales		158,761		156,662
Gross profit		50,028		58,318
Selling, general and administrative expenses		47,389		45,074
Operating income		2,639		13,244
Interest expense, net		1,579		1,092
Income before income taxes		1,060		12,152
Income tax expense		380		4,269
Net income	$	680	$	7,883
Income per common share:
Basic	$	0.02	$	0.24
Diluted	$	0.02	$	0.23
Weighted Average Common Shares Outstanding
Basic		33,518,543		33,504,222
Diluted		34,018,475		33,859,416

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

CONDENSED CONSOLIDATED GROSS PROFIT (UNAUDITED)

(Dollars in thousands)

	For the Quarter Ended
	March 31, 2014		March 31, 2013
Gross profit as reported	$	50,028	$	58,318
Restructuring and other adjustments in cost of sales
Material Handling Segment		—		162
Lawn and Garden Segment		5,861		—
Engineered Products Segment		—		3
Gross profit as adjusted	$	55,889	$	58,483

Note on Reconciliation of Income and Earnings Data: Gross profit excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that gross profit excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating profitability. Management uses gross profit excluding these items as well as other financial measures in connection with its decision-making activities. Gross profit excluding these items should not be considered in isolation or as a substitute for gross profit prepared in accordance with GAAP. The Company’s method for calculating gross profit excluding these items may not be comparable to methods used by other companies.

MYERS INDUSTRIES, INC.

SALES AND EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

	For the Quarter Ended
	March 31, 2014			March 31, 2013			% Change
Net Sales
Material Handling	$	90,613		$	79,989			13.3	%
Lawn and Garden		49,825			60,363			(17.5	)%
Distribution		39,735			42,649			(6.8	)%
Engineered Products		32,697			36,956			(11.5	)%
Inter-company Sales		(4,081	)		(4,977	)
Total	$	208,789		$	214,980			(2.9	)%
Income (Loss)
Before Income Taxes
Material Handling	$	10,940		$	9,705			12.7	%
Lawn and Garden		(7,043	)		2,281			—
Distribution		2,371			2,839			(16.5	)%
Engineered Products		3,789			5,077			(25.4	)%
Corporate		(8,997	)		(7,750	)
Total	$	1,060		$	12,152			(91.3	)%

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in millions, except per share data)

	For the Quarter Ended
	March 31, 2014			March 31, 2013
Material Handling
Income before taxes as reported	$	10.9		$	9.7
Restructuring expenses		—			0.2
Income before taxes as adjusted		10.9			9.9
Lawn and Garden
(Loss) income before taxes as reported		(7.0	)		2.3
Restructuring expenses and other adjustments		6.9			0.4
(Loss) income before taxes as adjusted		(0.1	)		2.7
Distribution
Income before taxes as reported		2.4			2.8
Restructuring expenses		0.5			0.1
Income before taxes as adjusted		2.9			2.9
Engineered Products
Income before taxes as reported		3.8			5.1
Restructuring expenses		—			—
Income before taxes as adjusted		3.8			5.1
Corporate and interest expense
Loss before taxes as reported		(9.0	)		(7.7	)
Severance and other adjustments		—			—
Loss before taxes as adjusted		(9.0	)		(7.7	)
Consolidated
Income before taxes as reported		1.1			12.2
Restructuring expenses and other adjustments		7.4			0.7
Income before taxes as adjusted		8.5			12.9
Income taxes		3.1			4.8
Net income as adjusted	$	5.4		$	8.1
Adjusted earnings per diluted share	$	0.16		$	0.24

Note: Numbers in the Corporate and interest expense section above may be rounded for presentation purposes.

Note on Reconciliation of Income and Earnings Data: Income (loss) excluding the items mentioned above in the text of this release and in this reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities. The Company believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as providing useful information regarding a company’s operating profitability. Management uses income (loss) excluding these items as well as other financial measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating income (loss) excluding these items may not be comparable to methods used by other companies.

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

(Dollars in thousands)

	March 31, 2014		December 31, 2013
Assets
Current Assets
Cash	$	5,738	$	6,539
Accounts receivable, net		130,833		112,459
Inventories		118,848		106,524
Other		10,374		9,388
Total Current Assets		265,793		234,910
Other Assets		84,567		85,069
Property, Plant, & Equipment, Net		146,522		149,478
Total Assets	$	496,882	$	469,457
Liabilities & Shareholders’ Equity
Current Liabilities
Accounts payable	$	70,705	$	98,263
Accrued expenses		39,928		52,320
Total Current Liabilities		110,633		150,583
Long-term debt, net		116,691		44,347
Other liabilities		16,638		14,687
Deferred income taxes		24,194		24,333
Total Shareholders’ Equity		228,726		235,507
Total Liabilities & Shareholders’ Equity	$	496,882	$	469,457

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 AND 2013

(Dollars in thousands)

	March 31, 2014			March 31, 2013
Cash Flows From Operating Activities
Net income	$	680		$	7,883
Items not affecting use of cash
Depreciation		8,424			8,150
Amortization		909			1,001
Non-cash stock compensation		788			438
Provision for loss on accounts receivable		361			822
Deferred taxes		(116	)		2,227
Other long-term liabilities		1,081			885
Gain from asset disposition		(46	)		—
Tax benefit from options		(650	)		(37	)
Payments on performance based compensation		(1,293	)		(1,719	)
Cash flows used for working capital:
Accounts receivable		(18,529	)		(9,833	)
Inventories		(12,134	)		(2,224	)
Prepaid expenses		(1,577	)		(237	)
Accounts payable and accrued expenses		(38,567	)		(13,859	)
Net cash used for operating activities		(60,669	)		(6,503	)
Cash Flows from Investing Activities
Capital expenditures		(4,653	)		(4,508	)
Proceeds from sale of property, plant and equipment		48			—
Other		—			96
Net cash used for investing activities		(4,605	)		(4,412	)
Cash Flows from Financing Activities
Proceeds from long-term debt		89,000			—
Net (repayment of) borrowing on credit facility		(16,700	)		10,763
Cash dividends paid		(3,118	)		—
Proceeds from issuance of common stock		1,781			1,706
Tax benefit from options		650			37
Repurchase of common stock		(5,062	)		(1,955	)
Shares withheld for employee taxes on equity awards		(1,083	)		—
Deferred financing costs		(196	)		—
Net cash provided by financing activities		65,272			10,551
Foreign Exchange Rate Effect on Cash		(799	)		469
Net (decrease) increase in cash		(801	)		105
Cash at January 1		6,539			3,948
Cash at March 31	$	5,738		$	4,053

EX-99.2

Earnings Presentation

First Quarter 2014

April 24, 2014

Exhibit 99.2

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) Changes in the markets for the Company’s business segments

(2) Changes in trends and demands in the markets in which the Company competes

(3) Unanticipated downturn in business relationships with customers or their purchases

(4) Competitive pressures on sales and pricing

(5) Raw material availability, increases in raw material costs, or other production costs

(6) Harsh weather conditions

(7) Future economic and financial conditions in the United States and around the world

(8) Inability of the Company to meet future capital requirements

(9) Claims, litigation and regulatory actions against the Company

(10) Changes in laws and regulations affecting the Company

(11) The Company’s ability to execute the components of its Strategic Business Evolution process

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.

Safe Harbor Statement

First Quarter 2014 Financial Summary

3

•

Severe winter weather and

transportation issues impacted net

sales by $9.6 million and net

income by $2.5 million or $0.07

per share

•

Adjusted gross profit margin was

26.8% compared to 27.2% in the

first quarter of 2013

•

Sales decline led to lower gross margin

•

Adjusted net income $5.4 million

compared to $8.1 million in the

first quarter of 2013

•

Adjusted EPS $0.16 vs. $0.24 in the

first quarter of 2013

Note: All figures except ratios and percents are $Millions

Q1

Q1

Highlights

2014

2013

B/(W)

Net sales

$208.8

$215.0

(2.9%)

Gross profit

margin -

adjusted¹

26.8%

27.2%

SG&A

$47.4

$45.1

(5.1%)

Net income -

adjusted²

$5.4

$8.1

(32.8%)

Effective tax

rate

35.9%

35.1%

EPS -

adjusted²

$0.16

$0.24

(33.3%)

¹See Reconciliation of Non-GAAP measures on slide 11

²See Reconciliation of Non-GAAP measures on slide 12

First Quarter 2014 Financial Summary

4

Notes: All figures except ratios and percents are $Millions

Free

cash

flow

=

cash

flow

from

operations

–

capital

expenditures

Three Months Ended

Three Months Ended

Cash

March 31,

March 31,

Highlights

2014

2013

Cash used for

operations

($60.7)

($6.5)

Capital

expenditures

$4.7

$4.5

Free cash flow

($65.3)

($11.0)

Dividends

$3.1

$0.0

Balance Sheet

March 31,

December 31,

Highlights

2014

2013

Long-term debt

$116.7

$44.3

Debt

-

net

of

cash

$111.0

$37.8

Net Debt to total

capital

32.7%

13.8%

Q1 Results

•

Strong sales in the food

processing and

agricultural end markets

•

A less favorable sales

mix offset a portion of

the income from the

higher sales volume

Segment Review –

Material Handling

5

$ Millions

See Reconciliation of Non-GAAP measures on

slide 12

$80.0

$90.6

$70

$75

$80

$85

$90

$95

Q1 2013

Q1 2014

Net Sales

$9.9

$10.9

$0

$5

$10

$15

Q1 2013

Q1 2014

EBIT -

Adjusted

Q1 Results

•

Extremely poor weather

conditions and

transportation issues

severely impacted the

segment’s sales and

operations

•

Startup inefficiencies in

phase two of the

segment’s restructuring

project further impacted

results

Segment Review –

Lawn & Garden

6

$ Millions

See Reconciliation of Non-GAAP measures on

slide 12

$60.4

$49.8

$35

$38

$44

$47

$50

$56

$59

$62

Q1 2013

Q1 2014

Net Sales

$41

$53

$2.7

$(0.1)

-$1

$2

$4

Q1 2013

Q1 2014

EBIT -

Adjusted

Q1 Results

•

Net sales declined

compared to last year as a

result of harsh weather

conditions and the closure

of the Canadian branches

in the first quarter of 2014

•

A more favorable product

mix compared to last year

offset the impact of the

lower sales

Segment Review –

Distribution

7

$ Millions

See Reconciliation of Non-GAAP measures on

slide 12

$42.6

$39.7

$35

$37

$39

$41

$43

$45

Q1 2013

Q1 2014

Net Sales

$2.9

$2.9

$0

$5

Q1 2013

Q1 2014

EBIT -

Adjusted

Q1 Results

•

Lower sales volumes in the

custom and transplant auto

markets were only partially

offset by continued strong

RV and marine sales

•

The decrease in income

before taxes year-over-year

was due primarily to the

sales decline

Segment Review –

Engineered Products

8

$ Millions

See Reconciliation of Non-GAAP measures on

slide 12

$37.0

$32.7

$25

$30

$35

$40

Q1 2013

Q1 2014

Net Sales

$5.1

$3.8

$0

$5

$10

Q1 2013

Q1 2014

EBIT -

Adjusted

Q2 & Full Year 2014 Outlook

Full Year Outlook

9

Q2 Outlook

•

Material Handling

•

Expect increased sales year-over-year driven by organic growth in Brazil and continued strong

agricultural sales

•

Lawn & Garden

•

Anticipate that sales could be slightly higher compared to last year due to a potential delay in

the season resulting from poor weather conditions during the first quarter

•

Distribution

•

Anticipate that sales increases from organic growth, including new service introductions, will be

offset by sales decreases resulting from the closure of the Canadian branches in the first quarter

•

Engineered Products

•

Expect

that

sales

will

continue

to

benefit

from

ongoing

strength

in

the

RV

and

marine

markets

•

Driven by productivity improvements, cost savings and benefits from the Lawn and

Garden Segment’s restructuring initiatives, the Company anticipates that full year

adjusted earnings, excluding restructuring and other unusual pre-tax charges, will

increase year-over-year.

Appendix

10

Reconciliation of Non-GAAP Measures

11

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

CONDENSED CONSOLIDATED GROSS PROFIT (UNAUDITED)

(Dollars in thousands)

For the Quarter Ended

March

31, 2014

March

31, 2013

Gross profit as reported

$

50,028

$

58,318

Restructuring and other adjustments in cost of sales

Material Handling Segment

—

162

Lawn and

Garden Segment

5,861

—

Engineered Products Segment

—

3

Gross profit as adjusted

$

55,889

$

58,483

reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the

unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational activities.

The Company believes that gross profit excluding items that are not primarily related to core operating activities is generally viewed as providing useful information

regarding a company’s operating profitability. Management uses gross profit excluding these items as well as other financial measures in connection with its

decision-making activities. Gross profit excluding these items should not be considered in isolation or as a substitute for gross profit prepared in accordance with 

GAAP. The Company’s method for calculating gross profit excluding these items may not be comparable to methods used by other companies.

Note on Reconciliation of Income and Earnings Data:

Gross profit excluding the items mentioned above in the text of this release and in this

Reconciliation of Non-GAAP Measures

12

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in millions, except per share data)

For the Quarter Ended

March

31, 2014

March

31, 2013

Material Handling

Income before taxes as reported

$

10.9

$

9.7

Restructuring expenses

—

0.2

Income before taxes as adjusted

10.9

9.9

Lawn and

Garden

(Loss) income before taxes as reported

(7.0)

2.3

Restructuring expenses and other adjustments

6.9

0.4

(Loss) income before taxes as adjusted

(0.1)

2.7

Distribution

Income before taxes as reported

2.4

2.8

Restructuring expenses

0.5

0.1

Income before taxes as adjusted

2.9

2.9

Engineered

Products

Income before taxes as reported

3.8

5.1

Restructuring expenses

—

—

Income before taxes as adjusted

3.8

5.1

Corporate and interest expense

Loss before taxes as reported

(9.0)

(7.7)

Severance and other adjustments

—

—

Loss before taxes as adjusted

(9.0)

(7.7)

Consolidated

Income before taxes as reported

1.1

12.2

Restructuring expenses and other adjustments

7.4

0.7

Income before taxes as adjusted

8.5

12.9

Income taxes

3.1

4.8

Net income as

adjusted

$

5.4

$

8.1

Adjusted earnings per diluted share

$

0.16

$

0.24

Note: Numbers in the Corporate and interest expense section above may be rounded for presentation purposes.

reconciliation chart is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the

unaudited Condensed Consolidated Financial Statements. The Company believes that the excluded items are not primarily related to core operational

activities. The Company  believes that income (loss) excluding items that are not primarily related to core operating activities is generally viewed as

providing useful information regarding a company’s operating profitability. Management uses income (loss) excluding these items as well as other financial

measures in connection with its decision-making activities. Income (loss) excluding these items should not be considered in isolation or as a substitute for

net income (loss), income (loss) before taxes or other consolidated income data prepared in accordance with GAAP. The Company’s method for calculating

income (loss) excluding these items may not be comparable to methods used by other companies.

Note

on

Reconciliation

of

Income

and

Earnings

Data:

Income

(loss)

excluding

the

items

mentioned

above

in

the

text of

this

release

and

in

this

Market Indicators

Material Handling

MHEM Index

Lawn & Garden

Housing Starts

Consumer Sentiment

Distribution

Miles Driven

Replacement Tire Shipments,

Gasoline Sales

Engineered Products

RVIA

Auto Market Forecasts

Source: Material Handling Industry Feb 2014 Forecast

-

Sources: National Association of Home Builders (NAHB), April 2014;

Thomson Reuters/University of Michigan, March 2014

Source: JP Morgan, RMA, Energy Information Administration, Feb 2014

Sources: RVIA Forecasts, Dec 2013;

FRB G17 Release, Feb 2014

13