On 02 April 2020, Myers Industries, Inc. (NYSE: MYE) spotted trading -50.23% off 52-week high price. On the other end, the stock has been noted 40.81% away from the low price over the last 52-weeks. The stock changed 0.52% to recent value of $9.73. The stock transacted 152111 shares during most recent day however it has an average volume of 171.69K shares. The company has 35.45M of outstanding shares and 35.33M shares were floated in the market.

Myers Industries, Inc. (MYE) recently reported results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter and Full Year 2019 Financial Highlights

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

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

Net sales for the fourth quarter reduced 15.6% to $116.8M, contrast with $138.4M for the fourth quarter of 2018; net sales for the full year reduced 9.0% to $515.7M, contrast with $566.7M for the full year of 2018

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

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

Completed acquisition of Tuffy Manufacturing for $18M in August 2019

Fourth Quarter 2019 Financial Summary

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

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

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

Full Year 2019 Financial Summary

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

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

Net sales in the Distribution Section for the full year of 2019 were $159.3M, a raise of $9.7M or 6.5%, contrast with 2018, mostly Because of incremental sales from the August 2019 Tuffy acquisition. The section’s adjusted EBITDA increased 60.0% to $12.7M contrast with $7.9M in 2018, due primarily to savings from the section’s transformation initiatives and the Tuffy acquisition. The Distribution Section’s adjusted EBITDA margin for the full year increased 270 basis points to 8.0%, contrast with 5.3% in 2018.

Its earnings per share (EPS) expected to touch remained 14.10% for this year while earning per share for the next 5-years is expected to reach at 20.00%. MYE has a gross margin of 33.20% and an operating margin of 7.20% while its profit margin remained 4.70% for the last 12 months.   According to the most recent quarter its current ratio was 2.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -12.05% from the mean of 20 days, -30.31% from mean of 50 days SMA and performed -39.95% from mean of 200 days price. Company’s performance for the week was -7.69%, -34.43% for month and YTD performance remained -41.67%.

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