Myers Industries Half-Year Report 2024

Highlights

• Signature Systems acquisition bolstered Q2 results
• Adjusted EBITDA of $38.9 million, as compared with $24.7 million in prior-year period
• Adjusted EBITDA Margin of 17.7%, as compared with 11.9% in prior-year period
• Adjusted EPS of $0.39, as compared with $0.35 in the prior-year period
• Soft demand continues in end markets due to inflation and interest rates
• Recreational Vehicles (RV), Marine and Automotive Aftermarket expected to remain soft in H2 2024
• Seed Box sales trending down vs strong years of 2022 and 2023
• Cost reduction actions in progress, acquisition synergies on track
• Announced consolidation of three distribution centers for Myers Tire Supply
• Announced consolidation of Rotational Molding facility in Atlantic, Iowa
• On track to achieve $8M annualized run-rate synergies from Signature acquisition by 2025