Myers Industries reports record Q4 and FY2022; adjusted EPS up 73% YoY; guides FY2023 EPS $1.55-$1.85

MYERS INDUSTRIES INC

2022-FY EPS reported $1.64 revenue$899,547,000

Q4 net sales $212.8M (+6.6% YoY); GAAP EPS $0.36; adjusted EPS $0.32 (+39% YoY).
Full-year net sales $899.5M (+18% YoY); organic sales +10%; adjusted EPS $1.68 (+73% YoY).
Material Handling Q4 sales -3.4% but op income +69.7%; Distribution Q4 sales +35% (acq-driven) but op income -37.2%.
FY2023 outlook: net sales growth low-to-mid single digit; adjusted diluted EPS $1.55-$1.85; capex $25-$30M.
CEO cites record results and plans to implement 'Myers Operating System' to sustain improvements.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MYERS INDUSTRIES INC reported the fourth quarter and full year ended December 31, 2022 results: revenue Net sales of $213 million (Q4) and Net sales of $900 million (FY), net income GAAP EPS of $0.36 (Q4); GAAP EPS of $1.64 (FY), EPS $0.36 per diluted share (Q4); $1.64 per diluted share (FY). Guidance reaffirmed.

Period: the fourth quarter and full year ended December 31, 2022
Revenue: Net sales of $213 million (Q4) and Net sales of $900 million (FY)
Net income: GAAP EPS of $0.36 (Q4); GAAP EPS of $1.64 (FY)
EPS: $0.36 per diluted share (Q4); $1.64 per diluted share (FY)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

under-vehicle service industry, today announced results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter 2022 Financial Highlights: • Net sales of $213 million, up 7% versus prior year period • GAAP EPS of $0.36; Adjusted EPS of $0.32, up 39% versus prior year period • Cash flow provided by operations of $22 million and free cash flow

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Source: SEC EDGAR

accession 0000950170-23-005324

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