Myers Industries Q4 2023 EPS $0.34; closes $350M Signature Systems acquisition; guides 2024 adj EPS $1.30-$1.45

MYERS INDUSTRIES INC

Q4 net sales $191.1M (down 10.2% YoY); GAAP diluted EPS $0.34; adjusted diluted EPS $0.29.
Full-year net sales $813.1M; operating cash flow $86.2M; free cash flow $63.3M.
Closed Signature Systems acquisition Feb 8, 2024 for $350M cash; net leverage ~3.0x post-close.
FY2024 outlook: net sales +15-20%; adj EPS $1.30-$1.45; capex $35-40M.
Signature expected to be accretive $0.20-$0.30 in 2025 and $0.40-$0.50 in 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MYERS INDUSTRIES INC reported full year ended December 31, 2023 results: revenue $813.1 million, EPS $1.32 per diluted share. Guidance initiated.

Period: full year ended December 31, 2023
Revenue: $813.1 million
EPS: $1.32 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

to $0.32 in the prior year period • Cash flow provided by operations was $15.4 million and free cash flow was $11.8 million Full Year 2023 Financial Highlights • Net sales of $813.1 million compared to $899.5 million in the prior year period • Gross margin of 31.9%, up 40 basis points versus the prior year period • GAAP net income per diluted share of $1.32 compared

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MYERS INDUSTRIES INC reported fourth quarter ended December 31, 2023 results: revenue $191.1 million, net income $12,539, EPS $0.34 per diluted share. Guidance initiated.

Period: fourth quarter ended December 31, 2023
Revenue: $191.1 million
Net income: $12,539
EPS: $0.34 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

as we continue to benefit from early implementation of the Myers Business System to help drive Operational Excellence.” Fourth Quarter 2023 Financial Highlights • Net sales of $191.1 million compared to $212.8 million in the prior year period • Gross margin of 30.0%, down 60 basis points versus the prior year period • GAAP net income per diluted share of $0.34

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Source: SEC EDGAR

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