Myers Industries Hosts Investor Day and Unveils its Horizon Two Strategy Outlook
March 18 2024 - 5:00PM
Business Wire
Event outlines Company’s strategy to drive
profitable growth and provides outlook through fiscal year 2026
Myers Industries, Inc. (NYSE: MYE), a leading manufacturer of a
wide range of polymer and metal products and distributor for the
tire, wheel, and under-vehicle service industry, will host its 2024
Investor Day event tomorrow morning at the Harvard Club of New York
City. The event will be led by Mike McGaugh, Myers Industries’
President and Chief Executive Officer, and will feature
presentations from other members of the executive leadership team.
Materials supporting the event have been filed as of the time of
this press release and are available on Myers’ investor relations
website.
Mike McGaugh commented, “During this event we will highlight the
progress we’ve made in successfully executing Myers Three Horizon
Strategy, the foundation we’ve built through Horizon One, and the
strategic focus of our Company as we transition to Horizon Two. We
will also be reviewing the long-term vision for our Company.”
McGaugh concluded, “Today, we recognize that several of our
cyclical end markets are experiencing trough-like levels of demand.
As these end markets return to historical demand levels, Myers is
well positioned to recover with even stronger margin performance
from the foundation established in Horizon One. Our focus in
Horizon Two is to continue growing through acquisition and
innovation, gaining scale as we move into adjacent markets and
technologies with a focus on branded products, and delivering
continued improvement in profitability and cash flow generation. We
believe our strategy will enable us to deliver strong returns to
shareholders through our disciplined approach to capital
allocation, which includes the continuation of our dividend
program, reinvestments in the business, opportunistic share
repurchases, and strategic M&A activity.”
Event Webcast and Replay
Details The Company will host a live webcast of its
Investor Day event for investors and analysts on Tuesday, March 19,
2024. The event will begin at 8:30 AM (ET) and is expected to
conclude before 12:00 PM (ET). Interested parties may access the
webcast using the following online participation registration link:
https://app.webinar.net/QpgVLDqlkZd. A complete recording of the
Company’s Investor Day presentations will be posted to the
Company’s investor relations website following the conclusion of
the event. To access the event replay, please visit the Events
& Presentations section of the Company’s investor relations
website at www.myersindustries.com.
Use of Non-GAAP Financial
Measures The Company uses certain non-GAAP measures in
presentation materials referenced in this release. Adjusted
operating income (loss), adjusted operating income margin, adjusted
earnings before interest, taxes, depreciation and amortization
(EBITDA), adjusted EBITDA margin, adjusted net income, adjusted
earnings per diluted share (adjusted EPS), and free cash flow are
non-GAAP financial measures and are intended to serve as a
supplement to results provided in accordance with accounting
principles generally accepted in the United States. Myers
Industries believes that such information provides an additional
measurement and consistent historical comparison of the Company’s
performance. A reconciliation of the non-GAAP financial measures to
the most directly comparable GAAP measures is available in the
presentation materials referenced in this news release.
In addition, certain financial information in the presentation
materials referenced in this release regarding the business of
Signature Systems, which was acquired by the Company on February 8,
2024, including the historical and pro forma financial information,
are subject to and may change based on the audited financial
statements of Signature Systems and unaudited pro forma financial
information to be provided by the Company pursuant to Item 9.01 of
Current Report on Form 8-K.
About Myers Industries Myers
Industries, Inc. is a manufacturer of sustainable plastic and metal
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 and the
presentation materials referenced in this release contain
“forward-looking statements” within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995, including information regarding the Company’s financial
outlook, future plans, objectives, business prospects and
anticipated financial performance. Forward-looking statements can
be identified by words such as “will,” “believe,” “anticipate,”
“expect,” “estimate,” “intend,” “plan,” or variations of these
words, or similar expressions. These forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on the Company’s current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, these statements
inherently involve a wide range of inherent uncertainties, risks
and changes in circumstances that are difficult to predict and many
of which are outside of our control. The Company’s actual actions,
results, and financial condition may differ materially from what is
expressed or implied by the forward-looking statements.
Specific factors that could cause such a difference on our
business, financial position, results of operations and/or
liquidity include, without limitation, raw material availability,
increases in raw material costs, or other production costs; risks
associated with our strategic growth initiatives or the failure to
achieve the anticipated benefits of such initiatives; unanticipated
downturn in business relationships with customers or their
purchases; competitive pressures on sales and pricing; changes in
the markets for the Company’s business segments; changes in trends
and demands in the markets in which the Company competes;
operational problems at our manufacturing facilities or unexpected
failures at those facilities; future economic and financial
conditions in the United States and around the world; inability of
the Company to meet future capital requirements; claims, litigation
and regulatory actions against the Company; changes in laws and
regulations affecting the Company; impacts from the novel
coronavirus (“COVID-19”) pandemic; and other risks and
uncertainties detailed from time to time in the Company’s filings
with the SEC, including without limitation, the risk factors
disclosed in Item 1A, “Risk Factors,” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2023. Given
these factors, as well as other variables that may affect our
operating results, readers should not rely on forward-looking
statements, assume that past financial performance will be a
reliable indicator of future performance, nor use historical trends
to anticipate results or trends in future periods. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date thereof. The Company
expressly disclaims any obligation or intention to provide updates
to the forward-looking statements and the estimates and assumptions
associated with them.
M-INV
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version on businesswire.com: https://www.businesswire.com/news/home/20240318172956/en/
Meghan Beringer Senior Director Investor Relations
252-536-5651
Myers Industries (NYSE:MYE)
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