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) November 7, 2017

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))

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 November 7, 2017, Myers Industries, Inc. (the “Company”) issued a press release announcing earnings results for the quarter ended September 30, 2017. 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 November 7, 2017, 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 November 7, 2017
99.2	Earnings Presentation Third Quarter 2017 by the Company dated November, 2017

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 November 7, 2017	By:	/s/ R. David Banyard
		R. David Banyard
		President and Chief Executive Officer

EX-99.1

Exhibit 99.1

Myers Industries Reports 2017 Third Quarter Results

Increased demand and operational improvements drive strong growth; Company raises full-year outlook

November 7, 2017, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE) today announced results for the third quarter ended September 30, 2017.

Third Quarter 2017 Business Highlights

• Net sales increased 8.6% (or 8.1% excluding currency fluctuation) compared to the third quarter of 2016

• Gross profit margin of 28.3% compared to 27.1% in the third quarter of 2016

• GAAP net income per diluted share from continuing operations of $0.11, compared to $0.01 in the third quarter of 2016

• Adjusted net income per diluted share from continuing operations of $0.11, compared to $0.04 in the third quarter of 2016

• Generated cash from continuing operations of $12.5 million and free cash flow of $9.7 million

• Company raises full-year net sales outlook to low single-digit growth vs. previous outlook of flat sales year-over-year

The Company reported net sales of $144.1 million, compared to $132.7 million in the third quarter of 2016. Gross profit margin increased 120 basis points to 28.3% as compared to the prior year quarter, primarily due to the higher sales volume and favorable sales mix, partially offset by restructuring expenses and higher material costs in the Material Handling Segment. Excluding restructuring expenses, gross profit margin increased 250 basis points to 29.6% as compared to the prior year quarter. Selling, general and administrative expenses increased by $3.8 million to $36.4 million, in the third quarter of 2017, with the increase in expenses primarily attributable to higher incentive compensation costs.

President and Chief Executive Officer Dave Banyard commented, “We are very pleased with the progress we are making towards transforming Myers Industries. Our third-quarter results continue to demonstrate the improved cash flow generation potential of our business. Strong revenue growth in the quarter was driven by improved demand in our food and beverage end market, as well as increased sales of fuel cans in our consumer market associated with the recent hurricane season. Lean initiatives implemented over the prior year resulted in operating margin expansion and stronger cash flow during the quarter, and we are pleased with our free cash flow of $31.0 million year-to-date as compared to $7.1 million last year. We will continue to pursue opportunities to grow our business in targeted niche markets, and we are well positioned for sustained improvements in long-term financial and operating performance.”

	Quarter Ended September 30,									Nine Months Ended September 30,
	2017			2016			% Increase (Decrease)			2017			2016			% Increase (Decrease)
	(Dollars in thousands, except per share data)
Net sales	$	144,075		$	132,676			8.6	%	$	428,081		$	427,998			0.0	%
Gross profit	$	40,739		$	35,918			13.4	%	$	122,025		$	128,625			(5.1	)%
Gross profit margin		28.3	%		27.1	%					28.5	%		30.1	%
Operating income	$	7,111		$	2,986			138.1	%	$	20,049		$	15,281			31.2	%
Income from continuing operations:
Income (loss)	$	3,276		$	424			—		$	8,416		$	2,772			203.6	%
Income (loss) per diluted share	$	0.11		$	0.01			—		$	0.28		$	0.09			211.1	%
Operating income as adjusted(1)	$	6,998		$	3,883			80.2	%	$	24,990		$	27,278			(8.4	)%
Income from continuing operations as adjusted(1):
Income (loss)	$	3,336		$	1,195			179.3	%	$	12,445		$	13,563			(8.2	)%
Income (loss) per diluted share	$	0.11		$	0.04			175.0	%	$	0.41		$	0.45			(8.9	)%

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

Segment Results

Net sales in the Material Handling Segment increased 15.8% (or 15.1% excluding currency fluctuation) as compared to the third quarter of 2016. The increase in net sales was primarily due to increased volume in the Company’s food and beverage and consumer end markets. GAAP operating income was $10.3 million compared to $4.4 million in the third quarter of 2016. GAAP operating income in the third quarter of 2017 included a gain on the sale of an asset of $2.8M and restructuring and related charges of $2.3 million. Adjusted operating income was $9.9 million compared to $4.7 million in the third quarter of 2016. The increase in adjusted operating income was primarily the result of higher sales volumes, price, and a favorable sales mix, partially offset by higher material and compensation costs.

Net sales in the Distribution Segment declined 6.5% as compared to the third quarter of 2016. The decrease in net sales was primarily the result of the Company’s planned exit from a low-margin custom product in the Patch Rubber business. Net sales in the Myers Tire Supply business were down 1.2% compared to prior year as the organization continues to improve sales force effectiveness. Operating income was $3.2 million compared to $3.3 million in the third quarter of 2016.

2017 Outlook

The Company has revised its fiscal year 2017 outlook. The Company now anticipates that total revenue will be up low single digits on a constant currency basis in 2017 as compared to the prior year due to continued strength in the food and beverage and consumer end markets. This compares to the Company’s previous expectations for flat sales compared to the prior year. Capital expenditures are now expected to be in the range of $7 to $9 million, net interest expense in the range of $7 to $8 million, depreciation and amortization in the range of $32 to $34 million, and an effective tax rate (normalized) of approximately 36%.

Conference Call Details

The Company will host an earnings conference call and webcast for investors and analysts on Tuesday, November 7, at 10:00 a.m. ET. The call is anticipated to last approximately one hour and may be accessed at: (US) 833-233-3452 or (Int’l) 647-689-4129. The Conference ID # is 7289448. 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 7289448.

Use of Non-GAAP Financial Measures

The Company uses certain non-GAAP measures in this release. Adjusted net income per diluted share from continuing operations, income from continuing operations as adjusted, adjusted income per diluted share from continuing operations, operating income as adjusted, adjusted operating income, adjusted EPS, adjusted EBITDA and free cash flow are non-GAAP financial measures and are intended to serve as a supplement to results provided in accordance with accounting principles generally accepted in the United States. 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 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 under vehicle service industry in the United States. 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: 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; unexpected failures at our manufacturing 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 data)

	Quarter Ended						Nine Months Ended
	September 30, 2017			September 30, 2016			September 30, 2017			September 30, 2016
Net sales	$	144,075		$	132,676		$	428,081		$	427,998
Cost of sales		103,336			96,758			306,056			299,373
Gross profit		40,739			35,918			122,025			128,625
Selling, general and administrative expenses		36,391			32,617			105,560			103,087
(Gain) loss on fixed asset sales		(2,763	)		315			(4,128	)		383
Impairment charges		—			—			544			9,874
Operating income		7,111			2,986			20,049			15,281
Interest expense, net		1,785			2,015			5,545			6,087
Income (loss) from continuing operations before income taxes		5,326			971			14,504			9,194
Income tax expense (benefit)		2,050			547			6,088			6,422
Income (loss) from continuing operations		3,276			424			8,416			2,772
Income (loss) from discontinued operations, net of income taxes		(19	)		(10	)		(52	)		(257	)
Net income (loss)	$	3,257		$	414		$	8,364		$	2,515
Income (loss) per common share from continuing operations:
Basic	$	0.11		$	0.01		$	0.28		$	0.09
Diluted	$	0.11		$	0.01		$	0.28		$	0.09
Income (loss) per common share from discontinued operations:
Basic	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.01	)
Diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.01	)
Net income (loss) per common share:
Basic	$	0.11		$	0.01		$	0.28		$	0.08
Diluted	$	0.11		$	0.01		$	0.28		$	0.08
Weighted average common shares outstanding:
Basic		30,266,838			29,849,005			30,149,818			29,682,798
Diluted		30,651,943			30,075,478			30,524,161			29,949,711

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

CONSOLIDATED GROSS PROFIT (UNAUDITED)

(Dollars in thousands)

	Quarter Ended				Nine Months Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Gross profit as reported	$	40,739	$	35,918	$	122,025	$	128,625
Restructuring expenses and other adjustments in cost of sales
Material Handling Segment		1,879		—		7,077		—
Distribution Segment		—		—		—		—
Gross profit as adjusted	$	42,618	$	35,918	$	129,102	$	128,625

Note on Reconciliation of Income and Earnings Data: Gross profit 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 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)

	Quarter Ended September 30,									Nine Months Ended September 30,
	2017			2016			% Change			2017			2016			% Change
Net Sales
Material Handling	$	104,089		$	89,911			15.8	%	$	310,343		$	299,842			3.5	%
Distribution		40,004			42,793			(6.5	)%		117,836			128,248			(8.1	)%
Inter-company Sales		(18	)		(28	)		—			(98	)		(92	)		—
Total	$	144,075		$	132,676			8.6	%	$	428,081		$	427,998			0.0	%
Operating Income
Material Handling	$	10,325		$	4,378			135.8	%	$	29,839		$	26,152			14.1	%
Distribution		3,179			3,301			(3.7	)%		7,742			9,803			(21.0	)%
Corporate		(6,393	)		(4,693	)		—			(17,532	)		(20,674	)		—
Total	$	7,111		$	2,986			138.1	%	$	20,049		$	15,281			31.2	%

MYERS INDUSTRIES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

OPERATING INCOME BY SEGMENT (UNAUDITED)

(Dollars in thousands, except per share data)

	Quarter Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Material Handling
Operating income as reported	$	10,325		$	4,378		$	29,839		$	26,152
Asset impairments		—			—			544			9,874
Reduction to contingent liability		—			—			—			(2,335	)
Gain on sale of asset		(2,758	)		—			(4,087	)		—
Restructuring expenses and other adjustments		2,319			292			8,158			292
Operating income as adjusted		9,886			4,670			34,454			33,983
Distribution
Operating income as reported		3,179			3,301			7,742			9,803
Corporate Expense
Corporate expense as reported		(6,393	)		(4,693	)		(17,532	)		(20,674	)
Environmental reserve		326			605			326			2,155
CFO severance related costs		—			—			—			2,011
Corporate expense as adjusted		(6,067	)		(4,088	)		(17,206	)		(16,508	)
Continuing Operations
Operating income as reported		7,111			2,986			20,049			15,281
Total of all adjustments above		(113	)		897			4,941			11,997
Operating income as adjusted		6,998			3,883			24,990			27,278
Interest expense, net		(1,785	)		(2,015	)		(5,545	)		(6,087	)
Income (loss) before taxes as adjusted		5,213			1,868			19,445			21,191
Income tax expense*		(1,877	)		(673	)		(7,000	)		(7,628	)
Income (loss) from continuing operations as adjusted	$	3,336		$	1,195		$	12,445		$	13,563
Adjusted earnings (loss) per diluted share from continuing operations	$	0.11		$	0.04		$	0.41		$	0.45

* 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)

	September 30, 2017		December 31, 2016
Assets
Current Assets
Cash	$	4,511	$	7,888
Restricted cash		8,650		8,635
Accounts receivable, net		88,278		73,818
Inventories		48,972		46,023
Other		2,881		4,787
Total Current Assets		153,292		141,151
Other Assets		128,181		129,051
Property, Plant, & Equipment, Net		91,934		111,482
Total Assets	$	373,407	$	381,684
Liabilities & Shareholders’ Equity
Current Liabilities
Accounts payable	$	61,990	$	48,988
Accrued expenses		36,330		30,324
Total Current Liabilities		98,320		79,312
Long-term debt, net		158,010		189,522
Other liabilities		7,616		9,235
Deferred income taxes		11,729		10,582
Total Shareholders’ Equity		97,732		93,033
Total Liabilities & Shareholders’ Equity	$	373,407	$	381,684

MYERS INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

	Nine Months Ended September 30,
	2017			2016
Cash Flows From Operating Activities
Net income	$	8,364		$	2,515
Income (loss) from discontinued operations, net of income taxes		(52	)		(257	)
Income from continuing operations		8,416			2,772
Adjustments to reconcile income from continuing operations to net cash provided by (used for) operating activities
Depreciation		16,758			18,465
Amortization		6,764			7,428
Accelerated depreciation associated with restructuring activities		2,018			—
Non-cash stock-based compensation expense		2,873			2,804
(Gain) loss on fixed asset sales		(4,128	)		383
Deferred taxes		101			(1,985	)
Accrued interest income on note receivable		(983	)		(948	)
Impairment charges		544			9,874
Other		29			(338	)
Payments on performance based compensation		(1,010	)		(1,794	)
Other long-term liabilities		(140	)		(431	)
Cash flows provided by (used for) working capital
Accounts receivable		(12,754	)		1,057
Inventories		(2,490	)		7,349
Prepaid expenses and other assets		1,696			484
Accounts payable and accrued expenses		18,416			(26,520	)
Net cash provided by (used for) operating activities - continuing operations		36,110			18,600
Net cash provided by (used for) operating activities - discontinued operations		—			—
Net cash provided by (used for) operating activities		36,110			18,600
Cash Flows From Investing Activities
Capital expenditures		(5,128	)		(11,490	)
Proceeds from sale of property, plant and equipment		8,075			194
Proceeds (payments) related to sale of business		—			(4,034	)
Net cash provided by (used for) investing activities - continuing operations		2,947			(15,330	)
Net cash provided by (used for) investing activities - discontinued operations		—			—
Net cash provided by (used for) investing activities		2,947			(15,330	)
Cash Flows From Financing Activities
Net borrowing (repayments) on credit facility		(31,397	)		4,440
Cash dividends paid		(12,230	)		(12,143	)
Proceeds from issuance of common stock		2,524			2,582
Excess tax benefit from stock-based compensation		—			139
Shares withheld for employee taxes on equity awards		(273	)		(925	)
Deferred financing costs		(1,030	)		—
Net cash provided by (used for) financing activities - continuing operations		(42,406	)		(5,907	)
Net cash provided by (used for) financing activities - discontinued operations		—			—
Net cash provided by (used for) financing activities		(42,406	)		(5,907	)
Foreign exchange rate effect on cash		(28	)		831
Net increase (decrease) in cash		(3,377	)		(1,806	)
Cash at January 1		7,888			7,344
Cash at September 30	$	4,511		$	5,538

MYERS INDUSTRIES, INC.

RECONCILIATION OF FREE CASH FLOW TO GAAP NET CASH PROVIDED BY

(USED FOR) OPERATING ACTIVITIES – CONTINUING OPERATIONS

(UNAUDITED)

(Dollars in thousands)

	For the Nine Months Ended
	September 30, 2017				September 30, 2016
Net cash provided by (used for) operating activities - continuing operations	$	36,110			$	18,600
Capital expenditures		(5,128	)			(11,490	)
Free cash flow	$	30,982			$	7,110
	YTD September 30, 2017				YTD June 30, 2017				QTD September 30, 2017
Net cash provided by (used for) operating activities - continuing operations	$	36,110		-	$	23,634		=	$	12,476
Capital expenditures		(5,128	)	-		(2,345	)	=		(2,783	)
Free cash flow	$	30,982		-	$	21,289		=	$	9,693

Note on Reconciliations of Cash Flow Data: Free cash flow is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedules above using GAAP amounts from the unaudited Condensed Consolidated Statement of Cash Flows. The Company uses free cash flow as well as other financial measures in connection with its decision-making activities. The Company’s method for calculating free cash flow may not be comparable to methods used by other companies.

EX-99.2

November 7, 2017 – Third Quarter Earnings Presentation MYERS INDUSTRIES, INC. Exhibit 99.2

Safe Harbor Statement 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. 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 the Company’s control that could cause actual results to materially differ from those expressed or implied. 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. Such risks 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 Unexpected failures at our manufacturing 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 Other risks as detailed in the Company’s 10-K and other reports filed with the Securities Exchange Commission 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.myersindustries.com and at the SEC.gov web site. Statements in this presentation speak only as of the date made.

2017 Q3 Overview Challenges Achievements Distribution showing progress, but at a slow rate Sales increased Q3 vs. Q2, but down mid single digits year-over-year Myers Tire Supply net sales were down ~1% year-over-year Patch Rubber net sales declined double digits due to the planned exit of a low margin product line New pricing model and lean initiatives producing positive results Mitigating resin cost increases through pricing actions and positive sales mix Generated $9.7M in free cash flow Continued working capital and capital spending discipline Niche market strategy delivering results Double-digit year-over-year growth in Consumer and Food & Beverage markets Continued positive momentum in RV market led to high single-digit growth in the Vehicle market year-over-year Positive sales mix and lean initiatives driving gross margin expansion Gross profit margin (excluding restructuring charges) expanded 250 basis points to 29.6% Reduced debt by $31.5M YTD Niche market strategy driving strong revenue growth

Q3 Financial Summary – GAAP % Sales 25.3% 24.6% % Sales 28.3% 27.1% % Sales 4.9% 2.3% Operating income increased $4.1M Gross profit higher $4.8M SG&A higher $3.8M Gain on asset sales $3.1M Net sales increased 8.6% Material Handling increased $14.2M (15.8%) due to growth in niche markets, partially offset by declines in the Industrial market Distribution down $2.8M (6.5%) mostly due to exit of low margin business Gross profit increased $4.8M Increased volume, favorable sales mix and restructuring savings, partially offset by restructuring expenses of $1.9M and higher material costs Pricing actions taken to mitigate resin cost increases Reflects results from continuing operations; In $millions except per-share figures SG&A increased $3.8M Higher incentive compensation costs Restructuring expenses of $0.4M

Q3 Financial Summary – Adjusted (Non-GAAP) % Sales 24.7% 24.3% % Sales 29.6% 27.1% % Sales 4.9% 2.9% Adj. operating income increased $3.1M Higher gross profit $6.7M Higher SG&A $3.4M Net sales increased 8.6% Material Handling up $14.2M (15.8%) due to growth in niche markets, partially offset by declines in the Industrial market Distribution down $2.8M (6.5%) due to exit of low margin business Adj. gross profit increased $6.7M; up 250 bps Higher sales volume and favorable sales mix Pricing actions partially offset resin cost increases Savings from restructuring project and other cost reductions Adj. SG&A increased $3.4M Higher incentive compensation costs, partially offset by cost reductions Reflects results from continuing operations; In $millions except per-share figures

Q3 Segment Results Material Handling Distribution Adjusted $9.9 $4.7 $3.2 $3.3 GAAP Adjusted GAAP Reflects results from continuing operations; In $millions except per-share figures Net sales increased 15.8% Increased demand in Food & Beverage market led to double-digit growth year-over-year Sales to the Consumer market up double-digits driven by hurricane-related demand for fuel containers Sales to the Vehicle market grew mid-single digits driven by continued growth in RV market Sales declined mid-single digits in the Industrial market Net sales declined 6.5% Exit of low margin product line at Patch Rubber business largest contributor to decline Myers Tire Supply business down ~1% year-over-year Midwest and East regions impacted by hurricanes Large customer win in highway marking tape product line Adj. operating income increased $5.2M Higher volume and positive sales mix Price actions partially mitigated raw material cost pressure Higher incentive compensation costs Adj. operating income declined $0.1M Minimal impact from volume decline since most of the decline was due to the exit of low margin business Remainder of volume decline offset by favorable price and sales mix

WORKING CAPITAL AS A % OF TTM SALES BALANCE SHEET Balance Sheet & Cash Flow Q3 2017 Q4 2016 Cash 4.5 $ 7.9 $ Debt 158.0 189.5 Net Debt 153.5 $ 181.6 $ LTM Adjusted EBITDA 59.0 $ 63.6 $ Net Debt-to-Adj. EBITDA 2.6x 2.9x In $millions 9% Target 7.6% 3.8% 9.5% 10.3% FREE CASH FLOW YTD 2017 YTD 2016 Cash from Continuing Operations 36.1 $ 18.6 $ Capital Expenditures (5.1) (11.5) Free Cash Flow 31.0 $ 7.1 $ In $millions Strong cash flow due to higher EBITDA and lower capital spending 8.1% Reduced debt by $31.5M compared to Q4 2016 Reduced net debt-to-adjusted EBITDA ratio despite lower EBITDA compared to Q4 2016 $17.5M (+94%) increase in YTD cash flow from continuing operations Working capital as % of TTM sales consistently below target of 9%

2017 Outlook and Strategic Update High single digits % of Net Sales 2016 2017 Growth Outlook Up double digits High single digits Forecasting low single-digit sales growth in 2017 (Constant Currency) Consumer 12% Vehicle 16% Food & Beverage 13% Auto Aftermarket 30% Industrial 29% FY revenue expected to be up low single digits due to continued strong demand in the Food & Beverage and Consumer markets Progress with niche market growth teams: Share gains in food processing and increased activity in agricultural market Pricing tools in Distribution producing positive results Operational realignment substantially completed: On schedule and on budget; expect to be fully completed by the end of Q1 2018 Began realizing benefits in Q3; on track to realize annualized savings of $10M in 2018 Capital allocation: Using cash to pay down debt and fund future strategic initiatives including acquisitions Mid single digits Low single digits

Appendix

Net Sales: Up low single digits Capital expenditures:$7 - $9 million Net interest expense: $7 - $8 million D&A: $32 - $34 million Effective tax rate (normalized):36% 2017 Key Assumptions

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED GROSS PROFIT (UNAUDITED) (Dollars in thousands) Note on Reconciliation of Income and Earnings Data: Gross profit 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 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.  

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES CONSOLIDATED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (Dollars in thousands) 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.   September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Selling, general and administrative expenses as reported 36,391 $ 32,617 $ 105,560 $ 103,087 $ Restructuring expenses and other adjustments in selling, general and administrative expenses Material Handling Segment (440) 226 (1,081) 2,561 Distribution Segment - - - - Corporate (326) (605) (326) (4,166) Selling, general and administrative expenses as adjusted 35,625 $ 32,238 $ 104,153 $ 101,482 $ For the Three Months Ended For the Nine Months Ended

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCOME (LOSS) BEFORE TAXES BY SEGMENT (UNAUDITED) (Dollars in thousands, 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%.

Reconciliation of Non-GAAP Measures MYERS INDUSTRIES, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES COMBINED STATEMENTS OF INCOME (UNAUDITED) (Dollars in thousands) 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.   TTM 12/31/2016 3/31/2017 6/30/2017 9/30/2017 9/30/2017 Net Income as Reported Continuing Operations (1,247) $ 3,128 $ 2,012 $ 3,276 $ 7,169 $ Add: tax expense 48 2,255 1,783 2,050 6,136 Add: net interest expense 2,086 1,975 1,785 1,785 7,631 Add: depreciation 6,142 6,700 6,984 5,092 24,918 Add: amortization 2,430 2,436 2,136 2,192 9,194 EBITDA 9,459 16,494 14,700 14,395 55,048 Add: one-time unusual charges 996 42 2,998 (116) 3,920 EBITDA as Adjusted 10,455 $ 16,536 $ 17,698 $ 14,279 $ 58,968 $ Quarter Ended TTM 3/31/2016 6/30/2016 9/30/2016 12/31/2016 12/31/2016 Net Income as Reported Continuing Operations (3,336) $ 5,684 $ 424 $ (1,247) $ 1,525 $ Add: tax expense 2,446 3,429 547 48 6,470 Add: net interest expense 2,019 2,053 2,015 2,086 8,173 Add: depreciation 6,000 6,283 6,182 6,142 24,607 Add: amortization 2,499 2,482 2,447 2,430 9,858 EBITDA 9,628 19,931 11,615 9,459 50,633 Add: one-time unusual charges 10,556 544 897 996 12,993 EBITDA as Adjusted 20,184 $ 20,475 $ 12,512 $ 10,455 $ 63,626 $ Quarter Ended

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) Note on Reconciliation of Cash Flow Data: Free cash flow is a non-GAAP financial measure that Myers Industries, Inc. calculates according to the schedule above using GAAP amounts from the unaudited Condensed Consolidated Statements of Cash Flows. The Company uses free cash flow as well as other financial measures in connection with its decision-making activities. The Company's method for calculating free cash flow may not be comparable to methods used by other companies.   YTD YTD QTD September 30, 2017 June 30, 2017 September 30, 2017 Net cash provided by (used for) operating activities - continuing operations 36,110 $ - 23,634 $ = 12,476 $ Capital expenditures (5,128) - (2,345) = (2,783) Free cash flow 30,982 $ - 21,289 $ = 9,693 $