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Dec 31, 2021
Myers Industries Q4 2021 Earnings Report
Reported a 45% increase in net sales, driven by strong sales in both the Material Handling and Distribution segments, and a 150% increase in net income per diluted share.
Key Takeaways
Myers Industries reported a strong fourth quarter with a 45% increase in net sales and a 150% increase in net income per diluted share. The company successfully integrated two acquisitions and saw robust demand for its products.
Net sales for the fourth quarter increased 45% to $199.6 million.
Net income per diluted share for the fourth quarter increased 150% to $0.20.
Adjusted earnings per diluted share for the fourth quarter increased 109% to $0.23.
Adjusted EBITDA for the fourth quarter increased 55% to $17.6 million.
Revenue by Segment
Forward Guidance
Myers Industries provided the following outlook for fiscal 2022: Net sales growth in the high single digit to low double digit range, with approximately one quarter of the increase due to the acquisition of Trilogy Plastics; Diluted EPS in the range of $1.18 to $1.38; adjusted diluted EPS in the range of $1.20 to $1.40; Capital expenditures to be in the range of $25 to $28 million; Effective tax rate to approximate 26%
Positive Outlook
- Net sales growth in the high single digit to low double digit range
- Approximately one quarter of the increase due to the acquisition of Trilogy Plastics
- Diluted EPS in the range of $1.18 to $1.38
- Adjusted diluted EPS in the range of $1.20 to $1.40
- Effective tax rate to approximate 26%
Challenges Ahead
- Capital expenditures to be in the range of $25 to $28 million
- Raw material availability
- Increases in raw material costs, or other production costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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