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Dec 31, 2022
Myers Industries Q4 2022 Earnings Report
Myers Industries posted record results in each quarter with robust top- and bottom-line growth.
Key Takeaways
Myers Industries reported a 7% increase in net sales to $213 million and a 39% increase in adjusted EPS to $0.32 for the fourth quarter of 2022. The company's performance was driven by incremental sales from acquisitions and successful pricing actions.
Net sales increased by 7% compared to the prior year period, reaching $213 million.
GAAP EPS stood at $0.36, while adjusted EPS increased by 39% to $0.32.
Cash flow provided by operations was $22 million, with a free cash flow of $15 million.
The company's growth was supported by the Mohawk Rubber acquisition and pricing actions.
Revenue by Segment
Forward Guidance
The Company provided the following outlook for fiscal 2023: Net sales growth in the low-to-mid single digit range; Diluted EPS in the range of $1.51 to $1.81; adjusted diluted EPS in the range of $1.55 to $1.85; Capital expenditures in the range of $25 to $30 million; Effective tax rate to approximate 25%.
Positive Outlook
- Net sales growth in the low-to-mid single digit range
- Diluted EPS in the range of $1.51 to $1.81
- Adjusted diluted EPS in the range of $1.55 to $1.85
- Capital expenditures in the range of $25 to $30 million
- Effective tax rate to approximate 25%
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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