Myers Industry Q1 Report 2024

First Q Highlights

• Newly acquired Signature Systems delivered strong results
• Anticipated near-term challenges in key end-markets
• Accelerating identified opportunities in Self-Help Playbook while continuing to execute 3 Horizon Strategy
• Management maintains full-year 2024 outlook, guiding to the lower end of the $1.30 to $1.45 adjusted diluted EPS range at this point in the year

Balance & Cash Flow

• Delivered operating cash flow of $20.3 million and free cash flow of $14.6 million
• Cash balance of $32.7M at quarter-end. Leverage ratio increased to 4.2x following the acquisition of Signature Systems financed by new Term Loan A.
• Under the terms of the TLA loan agreement, Net Leverage is 2.6x.
• Base business working capital balance as a % of TTM sales remained in the 11% range sequentially from Q4’23. Including the acquisition of Signature, total working capital increased to 14.4% of TTM sales