First Quarter 2020 Financial Highlights

• GAAP income per diluted share from continuing operations was $0.47, including $11.9 million of pre-tax income from the sale of notes and release of lease guarantee liability related to the Company’s Lawn and Garden business (sold in 2015), compared with $0.19 for the first quarter of 2019
• Adjusted income per diluted share from continuing operations was $0.22, compared with $0.23 for the first quarter of 2019
• Net sales decreased 12.1% to $122.3 million, compared with $139.1 million for the first quarter of 2019
• Gross margin increased to 34.8%, compared with 32.7% for the first quarter of 2019
• Cash flow from continuing operations was $5.0 million and free cash flow was $2.5 million, compared with $5.3 million and $2.4 million, respectively, for the first quarter of 2019

Myers Industries, Inc. (NYSE: MYE) today announced that it will report financial results for the first quarter ended March 31, 2020 on Wednesday, May 6, 2020 before the market opens. The Company will host a conference call the same day at 8:30 a.m. Eastern Time to review its performance.

Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced that, due to public health issues pertaining to COVID-19 and related local, state and federal government regulations and restrictions on in-person gatherings, the Company’s 2020 Annual Meeting of Shareholders will be hosted only via the internet in a virtual meeting format. Shareholders will not be able to attend the Annual Meeting in person.

Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced the Board of Directors has named Michael McGaugh as the Company’s new President and Chief Executive Officer, effective April 6, 2020.

Myers Industries, Inc. (NYSE: MYE) today announced that its Board of Directors has approved a quarterly cash dividend of $0.135 per share payable on April 2, 2020 to shareholders of record as of March 18, 2020.

Earnings growth in 2019 despite lower sales;
Continued margin improvement; generated free cash flow of $37 million

March 3, 2020, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter and Full Year 2019 Financial Highlights

• GAAP income per diluted share from continuing operations was $0.16 for the fourth quarter and $0.68 for the full year, compared with income of $0.09 and a loss of $0.05 (after $33.3 million of pre-tax charges related to the Company’s Lawn and Garden business, which was sold in 2015), respectively, for the fourth quarter and full year of 2018

• Adjusted income per diluted share from continuing operations was $0.12 for the fourth quarter and $0.78 for the full year, compared with $0.13 and $0.76, respectively, for the fourth quarter and full year of 2018

• Net sales for the fourth quarter decreased 15.6% to $116.8 million, compared with $138.4 million for the fourth quarter of 2018; net sales for the full year decreased 9.0% to $515.7 million, compared with $566.7 million for the full year of 2018

• Gross margin increased to 33.6% for the fourth quarter and 33.2% for the full year, compared with 30.4% and 31.6%, respectively for the fourth quarter and full year of 2018

• Generated cash flow from continuing operations of $47.0 million and free cash flow of $36.7 million for the full year of 2019

• Completed acquisition of Tuffy Manufacturing for $18 million in August 2019

Myers Industries, Inc. (NYSE: MYE) today announced that it will report financial results for the fourth quarter and full year ended December 31, 2019 on Tuesday, March 3, 2020 before the market opens. The Company will host a conference call the same day at 8:30 a.m. Eastern Time to review its performance.