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) May 2, 2016

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 May 2, 2016, Myers Industries, Inc. (the “Company”) issued a press release announcing earnings results for the fiscal quarter ended March 31, 2016. 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 May 2, 2016 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.

(d) Exhibits

99.1	Press Release by the Company regarding earnings results dated May 2, 2016
99.2	Earnings Presentation First Quarter 2016 by the Company dated May 2, 2016

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 May 2, 2016	By:	/s/ R. David Banyard
		R. David Banyard
		President and Chief Executive Officer

EX-99.1

Exhibit 99.1

	News Release
	NYSE:MYE

Contact:

Monica Vinay, Vice President, Investor

Relations & Treasurer (330) 761-6212

Myers Industries Reports 2016 First Quarter Results

First quarter adjusted EPS increased to $0.21 and gross margin improved by 260 basis points

May 2, 2016, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE) today announced results for the first quarter ended March 31, 2016.

Highlights – First Quarter 2016

• Income per diluted share from continuing operations decreased to a loss of $(0.11) compared to a profit of $0.08 for the first quarter of 2015

• Adjusted income per diluted share from continuing operations increased 75% to $0.21 compared to $0.12 for the first quarter of 2015

• Net sales decreased 3.3% (or 1.3% organic) compared to the first quarter of 2015

• Gross profit margin increased 260 basis points to 31.9% year-over-year

• First quarter 2016 included estimated non-cash impairment charges of $8.5 million related to goodwill and other long-lived assets in Brazil and severance and other charges of $2.0 million related to the departure of the Chief Financial Officer

President and Chief Executive Officer Dave Banyard commented, “First quarter sales were in line with our expectations. Operational improvements and the impact of favorable input costs contributed to the strong improvement in gross profit margin and a 75% adjusted earnings per share increase during the quarter. For the remainder of fiscal year 2016, we will continue to focus on executing on commercial growth initiatives in each of our businesses and developing an enterprise strategy that positions us for growth.”

Summary

	Quarter Ended March 31,
	2016			2015			% Increase (Decrease)
	(Dollars in thousands, except per share data)
Net sales	$	151,205		$	156,348			(3.3	)%
Gross profit	$	48,171		$	45,757			5.3	%
Gross profit margin		31.9	%		29.3	%
Operating income	$	1,129		$	6,716			(83.2	)%
Income (loss) from continuing operations:
Income (loss)	$	(3,336	)	$	2,622			(227.2	)%
Income (loss) per diluted share	$	(0.11	)	$	0.08			(237.5	)%
Operating income as adjusted(1)	$	11,685		$	8,666			34.8	%
Income from continuing operations as adjusted(1):
Income	$	6,186		$	3,835			61.3	%
Income per diluted share	$	0.21		$	0.12			75.0	%

(1) Details regarding the adjusted charges are provided on the Reconciliations of Non-GAAP Financial Measures included in this release.

Segment Results

The results below are as adjusted and exclude impairment 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 2016 were down 3% (or flat organic) vs. the first quarter of 2015. Strength in the vehicle end market was offset by significant declines in the Brazil business. The segment’s adjusted operating income was $16.0 million for the first quarter of 2016 compared to $13.5 million for the first quarter of 2015, primarily due to favorable input costs and operational cost improvements.

Net sales in the Distribution Segment for the first quarter of 2016 were down 4% vs. the first quarter of 2015. The decline was the result of lower sales productivity due to the implementation of a new sales team initiative during the quarter. The segment’s adjusted operating income was $2.5 million for the first quarter of 2016 compared to $3.5 million for the first quarter of 2015.

2016 Outlook

The Company continues to anticipate that total revenue will be flat to down low-single digits on a constant currency basis in fiscal year 2016 as the impacts of softer demand conditions persist across certain of its end markets.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Monday, May 2, 2016 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. A live and archived 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 telephone 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) 877-660-6853 or (Int’l) 201-612-7415. The replay passcode is Conference ID #13635307.

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 distributor of tools, equipment and supplies for the tire, wheel and undervehicle 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; 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.

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Dollars in thousands, except share data)

	Quarter Ended
	March 31, 2016			March 31, 2015
Net sales	$	151,205		$	156,348
Cost of sales		103,034			110,591
Gross profit		48,171			45,757
Selling, general and administrative expenses		38,497			39,041
Impairment charges		8,545			—
Operating income		1,129			6,716
Interest expense, net		2,019			2,702
Income (loss) from continuing operations before income taxes		(890	)		4,014
Income tax expense (benefit)		2,446			1,392
Income (loss) from continuing operations	$	(3,336	)	$	2,622
Income (loss) from discontinued operations, net of income taxes	$	(57	)	$	2,617
Net income (loss)	$	(3,393	)	$	5,239
Income (loss) per common share from continuing operations:
Basic	$	(0.11	)	$	0.08
Diluted	$	(0.11	)	$	0.08
Income (loss) per common share from discontinued operations:
Basic	$	—		$	0.08
Diluted	$	—		$	0.08
Net income (loss) per common share:
Basic	$	(0.11	)	$	0.16
Diluted	$	(0.11	)	$	0.16
Weighted average common shares outstanding:
Basic		29,547,514			31,026,468
Diluted		29,547,514			31,370,712

MYERS INDUSTRIES, INC.

SALES AND EARNINGS BY SEGMENT (UNAUDITED)

(Dollars in thousands)

	Quarter Ended March 31,
	2016			2015			% Change
Net Sales
Material Handling	$	109,024		$	112,280			(2.9	)%
Distribution		42,221			44,105			(4.3	)%
Inter-company Sales		(40	)		(37	)		—
Total	$	151,205		$	156,348			(3.3	)%
Operating Income
Material Handling	$	7,441		$	13,407			(44.5	)%
Distribution		2,536			3,491			(27.4	)%
Corporate		(8,848	)		(10,182	)		—
Total	$	1,129		$	6,716			(83.2	)%

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

OPERATING INCOME BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

	Quarter Ended March 31,
	2016			2015
Material Handling
Operating income as reported	$	7,441		$	13,407
Asset impairments		8,545			—
Restructuring expenses and other adjustments		—			91
Operating income as adjusted		15,986			13,498
Distribution
Operating income as reported		2,536			3,491
Severance		—			53
Operating income as adjusted		2,536			3,544
Corporate Expense
Corporate expense as reported		(8,848	)		(10,182	)
CFO severance related costs		2,011			—
Professional, legal fees and other adjustments		—			1,806
Corporate expense as adjusted		(6,837	)		(8,376	)
Continuing Operations
Operating income as reported		1,129			6,716
Total of all adjustments above		10,556			1,950
Operating income as adjusted		11,685			8,666
Interest expense, net		(2,019	)		(2,702	)
Income before taxes as adjusted		9,666			5,964
Income taxes*		(3,480	)		(2,129	)
Income from continuing operations as adjusted	$	6,186		$	3,835
Adjusted earnings per diluted share from continuing operations	$	0.21		$	0.12

* Income taxes are calculated using the normalized effective tax rate for each year. The normalized rate used above is 36%.

Note on Reconciliation of Income and Earnings Data: Income from continuing operations as adjusted and adjusted earnings per diluted share from continuing operations are non-GAAP financial measures that Myers Industries, Inc. calculates according to the schedule above, using GAAP amounts from the unaudited 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, 2016		December 31, 2015
Assets
Current Assets
Cash	$	5,601	$	7,344
Restricted cash		8,627		8,627
Accounts receivable, net		85,339		77,633
Inventories		60,212		54,738
Other		4,823		5,966
Total Current Assets		164,602		154,308
Other Assets		136,602		143,710
Property, Plant, & Equipment, Net		128,403		130,773
Total Assets	$	429,607	$	428,791
Liabilities & Shareholders’ Equity
Current Liabilities
Accounts payable	$	55,443	$	71,310
Accrued expenses		39,239		45,502
Total Current Liabilities		94,682		116,812
Long-term debt, net		218,471		191,881
Other liabilities		10,836		12,354
Deferred income taxes		9,827		10,041
Total Shareholders’ Equity		95,791		97,703
Total Liabilities & Shareholders’ Equity	$	429,607	$	428,791

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

	Quarter Ended March 31,
	2016			2015
Cash Flows From Operating Activities
Net income (loss)	$	(3,393	)	$	5,239
Income (loss) from discontinued operations, net of income taxes		(57	)		2,617
Income (loss) from continuing operations		(3,336	)		2,622
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used for) operating activities
Depreciation		6,000			6,489
Amortization		2,499			2,638
Non-cash stock compensation		1,282			966
Deferred taxes		(967	)		(1,705	)
Tax benefit from stock-based compensation		106			(214	)
Impairment charges		8,545			—
Other		214			61
Payments on performance based compensation		(1,699	)		(1,219	)
Accrued interest income on note receivable		(301	)		—
Other long-term liabilities		427			2,734
Cash flows provided by (used for) working capital
Accounts receivable		(6,766	)		(5,840	)
Inventories		(4,774	)		(4,264	)
Prepaid expenses and other assets		1,143			(569	)
Accounts payable and accrued expenses		(13,690	)		(19,617	)
Net cash provided by (used for) operating activities - continuing operations		(11,317	)		(17,918	)
Net cash provided by (used for) operating activities - discontinued operations		—			(9,761	)
Net cash provided by (used for) operating activities		(11,317	)		(27,679	)
Cash Flows From Investing Activities
Capital expenditures		(7,140	)		(4,657	)
Proceeds from sale of property, plant and equipment		6			15
Proceeds (payments) related to sale of business		(4,034	)		69,787
Net cash provided by (used for) investing activities - continuing operations		(11,168	)		65,145
Net cash provided by (used for) investing activities - discontinued operations		—			(581	)
Net cash provided by (used for) investing activities		(11,168	)		64,564
Cash Flows From Financing Activities
Net borrowing (repayments) on credit facility		24,999			(27,700	)
Cash dividends paid		(4,079	)		(4,184	)
Proceeds from issuance of common stock		47			964
Tax benefit from stock-based compensation		(106	)		214
Repurchase of common stock		—			(6,577	)
Shares withheld for employee taxes on equity awards		(502	)		(560	)
Net cash provided by (used for) financing activities - continuing operations		20,359			(37,843	)
Net cash provided by (used for) financing activities - discontinued operations		—			—
Net cash provided by (used for) financing activities		20,359			(37,843	)
Foreign exchange rate effect on cash		383			2
Net increase (decrease) in cash		(1,743	)		(956	)
Cash at January 1		7,344			4,676
Cash at March 31	$	5,601		$	3,720

EX-99.2

MAY

2, 2016 

|

MYERS

INDUSTRIES, INC.

FIRST

QUARTER

EARNINGS

PRESENTATION

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 within 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

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

Q1 2016 SUMMARY

Net sales $151.2M, a decrease of (3.3%) to prior year

Organic (1.3%); currency (2.0%)

In line with expectations

Gross margin +260 basis points to 31.9%

Lower input costs

Operational improvements

Product line rationalization

Adjusted EPS from continuing operations +75% to $0.21

Free cash flow ($18.5M); +$4.1M year-over-year improvement

Working capital improvement partially offset by higher capital spending

Several large one-time charges in the quarter

$8.5M of non-cash impairment charges in Brazil

$2.0M of CFO severance related charges

3

PERFORMANCE

IN

LINE

WITH

EXPECTATIONS

CONTINUING OPERATIONS

Q1 

2015

Q1

2016

NET

SALES

$   156.3

$   151.2

(1.3)% ORGANIC

GROSS

PROFIT

GROSS

MARGIN

$     45.8

29.3%

$     48.2

31.9%

+260 BPS

ADJ. SG&A

$     37.2

$     36.5

(1.9)% DECREASE

ADJ.

OPERATING

INCOME

OPERATING

MARGIN

$       8.7

5.5%

$     11.7

7.7%

+220 BPS

NET

INTEREST

EXPENSE

$       2.7

$       2.0

ADJ. INCOME

FROM

CONTINUING

OPS

BEFORE

INCOME

TAXES

$       6.0

$       9.7

INCOME

TAX

EXPENSE

$       2.1

$       3.5

NORMALIZED

RATE

36%

ADJ. INCOME

FROM

CONTINUING

OPS

INCOME

MARGIN

$       3.8

2.5%

$       6.2

4.1%

ADJ. EPS

FROM

CONTINUING

OPS

$     0.12

$     0.21

75% INCREASE

4

Q1 FINANCIAL

SUMMARY

SOLID

START

TO

2016

IN

$MILLIONS

EXCEPT

EPS

AND

PERCENTAGES

SEE

APPENDIX

FOR

RECONCILIATIONS

FROM

GAAP TO

ADJUSTED

RESULTS

BALANCE SHEET

03/31/15

03/31/16

Cash

3.7

$     

5.6

$     

Debt

204.7

218.5

Net Debt

201.0

$ 

212.9

$ 

Adjusted TTM EBITDA

68.1

$   

73.8

$   

Net Debt-to-Adj. EBITDA

2.9x

2.9x

BALANCE

SHEET

& CASH

FLOW

5

REFLECTS

SEASONALITY

; OPPORTUNITIES

FOR

FURTHER

IMPROVEMENT

WORKING CAPITAL AS A % OF SALES

13.3%

9.0%

9.3%

Q1 2014

Q1 2015

Q1 2016

CASH FLOW

$(40.1)

$(2.5)

$(42.6)

$(17.9)

$(4.7)

$(22.6)

$(11.4)

$(7.1)

$(18.5)

Cash from Cont. Ops

CapEx

Free Cash Flow

2014

2015

2016

See appendix for reconciliations from GAAP to adjusted results

Q1 2016 SEGMENT

RESULTS

6

CHOPPY

END

MARKETS

; FOCUS

ON

EXECUTION

DISTRIBUTION

Sales down (4%):

Indicators from Q1 flat to slightly up

Sales team initiative impacting sales

productivity; some traction but gaps remain

Large win in retread business at Patch

Sales team initiative targeting higher margin

products; favorable mix in Q1

Operating inefficiency at Patch resulted in overall

margin erosion

$ Millions

$44.1

$42.2

$3.5

$2.5

$0

$1

$2

$3

$4

$0

$10

$20

$30

$40

$50

Net Sales

Adj. Op Income

Q1 2015

Q1 2016

$ Millions

MATERIAL HANDLING

Sales down (3%); flat organic:

Wins at several key industrial customers;

improved channel coverage

Share gains in vehicle/auto; new model launch

win at major auto manufacturer

Volume up in Ag; pent up demand

Brazil auto and beverage markets down 35%

Margin expansion; full quarter of factory re-

alignment benefits; favorable input costs;

product line rationalization

$112.3

$109.0

$13.5

$16.0

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$0

$20

$40

$60

$80

$100

$120

Net Sales

Adj. Op Income

Q1 2015

Q1 2016

2016 OUTLOOK

Holding to prior outlook

FY revenue expected to be flat to down low

single digits

Q2 revenue expected to be down low to

mid-single digits; tough Q2 ‘15 comp

Revenue growth initiatives for each business

within their niche:

Sales team initiative in Distribution

New products at Scepter

Customer project wins at Buckhorn

Strategic pricing

Margin growth initiatives focused on:

Input cost management

Productivity improvements

Strategic pricing

SG&A review

Capital allocation priorities:

Capex to maintain and grow

Dividend

Pay down debt

7

Q1 IN

LINE

WITH

EXPECTATIONS

; MAINTAINING

OUTLOOK

CONSUMER

12%

VEHICLE

13%

FOOD

& BEVERAGE

16%

AUTO

AFTERMARKET

30%

INDUSTRIAL

29%

FLAT

FLAT

TO

DOWN

LOW

SINGLE

DIGITS

LOW

SINGLE

DIGITS

MID

SINGLE

DIGITS

PERCENT

OF

2015 SALES

MYE 2016 GROWTH

OUTLOOK

FLAT

APPENDIX

8

2016 KEY

ASSUMPTIONS

Capital expenditures:

$17 -

$22 million

Interest expense: 

$9 -

$10 million

D&A:

$35 -

$37 million

Effective tax rate (normalized):

36%

9

RECONCILIATION

OF

NON-GAAP MEASURES

10

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED)

(Dollars in thousands)

March 31, 2016

March 31, 2015

Selling, general and administrative expenses as reported

38,497

$                 

39,041

$                 

Restructuring expenses and other adjustments in selling, general and

administrative expenses

Material Handling segment

-

-

Distribution segment

-

(53)

Corporate

(2,011)

(1,806)

Selling, general and administrative expenses as adjusted

36,486

$                 

37,182

$                 

Quarter Ended

Note on Reconciliation of Income and Earnings Data:Selling, general and administrative expenses excluding the items above in the text of this

presentation 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 Statement of Operations. The Company believes that the excluded items are not primarily

related to core operational activities.  The Company believes that selling, general and administrative expenses 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 selling,

general and administrative expenses excluding these items as well as other financial measures in connection with its decision-making activities.  Selling,

general and administrative expenses excluding these items should not be considered in isolation or as a substitute for selling, general and administrative

expenses prepared in accordance with GAAP.  The Company's method for calculating selling, general and administrative expenses excluding these items

may not be comparable to methods used by other companies.

RECONCILIATION

OF

NON-GAAP MEASURES

11

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED)

(Dollars in millions, except per share data)

Note

on

Reconciliation

of

Income

and

Earnings

Data:

Income

(loss)

excluding

the

items

above

in

the

text

of

this

presentation

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

Statement

of

Operations.

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

income

(loss)

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.

*Income taxes are calculated using the normalized effective tax rate for each year. The normalized rate used above is 36%.

2016

2015

Material Handling

Operating income as reported

7,441

$            

13,407

$         

Asset impairments

8,545

-

Restructuring expenses and other adjustments

-

91

Operating income as adjusted

15,986

13,498

Distribution

Operating income as reported

2,536

3,491

Severance

-

53

Operating income as adjusted

2,536

3,544

Corporate Expense

Corporate expense as reported

(8,848)

(10,182)

CFO severance related costs

2,011

-

Professional, legal fees and other adjustments

-

1,806

Corporate expense as adjusted

(6,837)

(8,376)

Continuing Operations

Operating income as reported

1,129

6,716

Total of all adjustments above

10,556

1,950

Operating income as adjusted

11,685

8,666

Interest expense, net

(2,019)

(2,702)

Income before taxes as adjusted

9,666

5,964

Income taxes*

(3,480)

(2,129)

Income from continuing operations as adjusted

6,186

$            

3,835

$            

Adjusted earnings per diluted share from continuing operations

0.21

$              

0.12

$              

Quarter Ended March 31,

RECONCILIATION

OF

NON-GAAP MEASURES

12

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

COMBINED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands)

TTM

June 30, 2015

September 30, 2015

December 31, 2015

March 31, 2016

March 31, 2016

Operating Income as reported from continuing operations

19,742

$                 

2,578

$                   

1,824

$                  

1,129

$                   

25,273

$                

Add:  one time unusual charges

(2,560)

3,318

2,906

10,556

14,220

Add: depreciation

6,801

5,926

5,496

6,000

24,223

Add: amortization

2,641

2,575

2,413

2,499

10,128

EBITDA as adjusted

26,624

14,397

12,639

20,184

73,844

Quarter Ended

TTM

June 30, 2014

September 30, 2014

December 31, 2014

March 31, 2015

March 31, 2015

Operating Income as reported from continuing operations

11,286

$                 

(2,678)

$                 

5,127

$                   

6,716

$                  

20,451

$                 

Add:  one time unusual charges

1,560

8,988

1,031

1,950

13,529

Add: depreciation

5,652

6,719

6,424

6,489

25,284

Add: amortization

670

2,814

2,724

2,638

8,846

EBITDA as adjusted

19,168

15,843

15,306

17,793

68,110

Quarter Ended

Note on Reconciliation of Income and Earnings Data:EBITDA as adjusted is a financial measure that Myers Industries, Inc. calculates according to the schedule above using amounts

from the unaudited Reconciliation of Non-GAAP Financial Measures Income (Loss) Before Taxes By Segment and GAAP amounts from the unaudited Condensed Consolidated Statement

of Operations. The Company believes that EBITDA as adjusted provides useful information regarding a company's operating profitability.  Management uses EBITDA as adjusted as well as

other financial measures in connection with its decision-making activities.  EBITDA as adjusted 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 EBITDA as adjusted may not be comparable to methods used

by other companies.