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Miller IndustriesCDocument history
Earnings documents stored for MLR.
Investor releaseQuarter not tagged2026-05-12Miller Industries Q1 Earnings Call Highlights
MarketBeat
Miller Industries Q1 Earnings Call Highlights
Interested in Miller Industries, Inc.? Here are five stocks we like better. Q1 results were weaker year over year as revenue fell 19.8% to $180.9 million, though it rose 5.7% sequentially as production improved. The company said lower production levels set in late 2025 were the main drag, while Omars-related acquisition costs also weighed on earnings. Cash generation remained strong, with cash rising to $53 million and debt reduced by $10 million to about $21 million. Miller Industries also returned $4.6 million to shareholders through dividends and buybacks, while maintaining its $0.21 quarterly dividend. Management kept full-year 2026 guidance unchanged, still forecasting revenue of $850 million to $900 million and EPS roughly in line with 2025. The company sees second-half improvement ahead, supported by higher order activity, a growing military pipeline, and a new 3% price increase to offset rising manufacturing costs. 3 Stocks You’ll Love to Own, But Hate To Encounter Miller Industries (NYSE:MLR) said first-quarter 2026 results reflected lower production levels put in place last year, while management pointed to improving order activity, a first full-quarter contribution from Omars and a growing military pipeline as drivers for the remainder of the year. President and CEO William Miller, II said the company entered 2026 with “strong momentum” after actions taken in 2025 to reduce field inventory, improve the distribution channel and strengthen the supply chain. As demand improved early in the year, Miller Industries increased production, contributing to sequential revenue growth. However, Miller said escalating geopolitical tensions in the Middle East late in the quarter pushed diesel prices higher and pressured retail demand. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum “In response, our team remained disciplined and focused, proactively pausing our North American production increase at current levels to maintain balanced distributor inventory,” Miller said. He added that management believes the decision positions the business for future success. For the first quarter, Miller Industries reported revenue of $180.9 million, down 19.8% from the prior-year period. Debbie, who reviewed the company’s financial results during the call, said the decline reflected lower production levels instituted in the second half of 2025. Revenue increas...
Investor releaseQuarter not tagged2026-05-07MILLER INDUSTRIES REPORTS 2026 FIRST QUARTER RESULTS
PR Newswire
MILLER INDUSTRIES REPORTS 2026 FIRST QUARTER RESULTS
Sequential Revenue Growth Driven by Disciplined Production Increases Ooltewah Capacity Expansion on Track Strong Cash Flow Supports Capacity Expansion, Debt Reduction, and Shareholder Returns Board of Directors Approves Dividend of $0.21 per Share CHATTANOOGA, Tenn., May 6, 2026 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") today announced financial results for the first quarter ended March 31, 2026, and provided updates on its global strategic initiatives. Q1 2026 Financial Results vs. Q1 2025 Revenue: $180.9 million, a 19.8% decrease from $225.7 million Gross Profit: $25.7 million, a 24.3% decrease from $33.9 million Gross Margin: 14.2%, an 80 basis-point decrease from 15.0% SG&A Expenses: $23.9 million, a 3.0% increase from $23.3 million Net Income: $555 thousand, a 93.1% decrease from $8.1 million Diluted EPS: $0.05 per share, a decrease of 92.8% from $0.69 per diluted share In addition, Miller Industries acquired Omars in the fourth quarter of fiscal 2025. Based on preliminary valuation estimates, non-cash acquisition-related expenses associated with Omars—primarily tied to the sale of equipment adjusted to fair market value and amortization of the estimated intangible value of customer relationships—negatively impacted the Company's financial results for the first fiscal quarter of 2026 by approximately $0.13 per diluted share. The Company currently anticipates that this amount represents roughly one half of the total acquisition-related expenses expected to be recognized over the remainder of 2026. Miller Industries remains confident that the acquisition will be accretive in the first year after recognizing these non-cash acquisition–related expenses. The Company continues to work with its third–party valuation consultants, and the final amount to be expensed will be finalized upon completion of their analysis. First Quarter Business Highlights Delivered sequential revenue growth as the Company increased production to meet rising order intake. Advancing site preparation for capacity expansion at Ooltewah to significantly enhance North American production capacity and support manufacturing for European and military operations; site expected to be ready for construction to begin by late summer. Continued strong cash flow generation, supporting the capacity expansion, continued debt reduction and returns of ca...
Investor releaseQuarter not tagged2026-05-07Miller Industries: Q1 Earnings Snapshot
Associated Press
Miller Industries: Q1 Earnings Snapshot
OOLTEWAH, Tenn. (AP) — OOLTEWAH, Tenn. (AP) — Miller Industries Inc. (MLR) on Wednesday reported net income of $555,000 in its first quarter. On a per-share basis, the Ooltewah, Tennessee-based company said it had profit of 5 cents. The vehicle towing and recovery equipment maker posted revenue of $180.9 million in the period. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLR at https://www.zacks.com/ap/MLR
TranscriptFY2026 Q12026-05-07FY2026 Q1 earnings call transcript
Earnings source - 41 paragraphs
FY2026 Q1 earnings call transcript
Good day, ladies and gentlemen, welcome to the Miller Industries first quarter 2026 results conference call. Please note, this event is being recorded. At this time, I would like to turn the call over to William Miller at Miller Industries. Please go ahead, sir.
Thank you. Good morning, everyone, and thank you for joining us for our first quarter 2026 earnings call. I want to begin by thanking our employees around the world for their dedication and support. Our first quarter results and strategic progress reflect the commitment and passion of our team, our suppliers, our customers, and our shareholders. As always, our remarks today will include forward-looking statements. Actual results may differ materially. Please refer to our SEC filings and the safe harbor statement included in today's presentation. I would like to start with a brief overview before I hand the call over to Debbie, who will review our results in greater detail. We entered the year with strong momentum. The actions we took in 2025 to reduce field inventory, improve the health of our distribution channel, and strengthen our supply chain positioned us to capture rising demand across the business.
As that demand materialized, we strategically increased production to deliver solid sequential revenue growth. Late in the quarter, escalating geopolitical tensions in the Middle East introduced additional uncertainty and led to higher diesel prices, creating pressure on retail demand. In response, our team remained disciplined and focused, proactively pausing our North American production increase at current levels to maintain balanced distributor inventory. We believe this was the right decision to best position the business for future success. Despite the reduction in retail activity that we saw throughout 2025 and the recent effects of the conflict in the Middle East, we remain confident in the strength of our business and the structural demand opportunities ahead. Our core philosophy remains exactly as it has been since day one. Miller Industries has the best people, the best products, and the best distribution network in the towing and recovery industry.
That philosophy is the backbone of Miller Industries' 35-year history and will continue to be our philosophy moving forward. Our 1,500 plus employees across Tennessee, Pennsylvania, France, the U.K., and Italy, and our distribution footprint gives us unmatched reach, capability, and reliability that continues to position the company for future growth. I want to recognize all of our teams across the U.S., Europe, and the U.K. for their dedication to support the company throughout difficult periods. Their commitment allows us to stay agile in the near term while building the foundation for longer-term growth and value creation. I'll now turn the call over to Debbie, who will provide an update on our financial results in more detail, before returning with some more specific thoughts on our markets in 2026, capital allocation priorities, and guidance.
Thank you, Will. I would like to note that this was our first full quarter of contribution from the Omars acquisition. We are encouraged by the smooth integration thus far and expect Omars to be an increasingly meaningful contributor to our results going forward. For the first quarter, revenue was $180.9 million, down 19.8% year-over-year and in line with our expectations for the quarter. This decline reflects the institution of lower production levels in the second half of 2025. Earlier this year, we started to accelerate production to meet increasing retail activity and order intake. This drove quarter-over-quarter revenue growth of 5.7%. Gross profit was $25.7 million or 14.2% of sales, and diluted EPS was $0.05 per share.
Higher SG&A expenses for the quarter were primarily attributable to the inclusion of Omars. Based on preliminary valuation estimates, we recorded certain non-cash acquisition-related expenses associated with Omars during the first quarter, primarily related to fair value adjustments on equipment sales and the amortization of estimated intangible customer relationship assets. These items reduced first quarter results by approximately $0.13 per diluted share. At this time, we expect this amount to represent roughly half of those total one-time acquisition-related expenses anticipated to be recognized over the balance of 2026. We are continuing to work closely with our third-party valuation specialists, and the final amounts will be recorded upon completion of the valuation process. We remain confident that the acquisition will be accretive in the first year after recognizing these non-cash acquisition-related expenses.
Earnings per share was also impacted by higher consolidated taxes, primarily as a result of a conservative tax approach to the acquisition-related expenses for Omars, as well as non-deductible executive compensation. I'd like to now shift to a discussion of our balance sheet. At the end of the first quarter, we had a cash balance of $53 million, up $8.3 million from the end of last year as we continued to convert receivables at a faster pace. Our strong cash position provides increased flexibility to deploy capital in the most efficient and value-creating ways for our investors. I'll turn the call back to Will to discuss our markets and our outlook.
Thank you, Debbie. In the domestic market, we started 2026 with strengthening retail activity and order intake. Due to geopolitical tensions and rising fuel costs towards the end of Q1, we saw a significant reduction in the overall market. At the same time, cost of manufacturing in the U.S. have continued to increase. While we implemented an initial surcharge in April 2025 to offset tariff-related costs, continued cost increases have exceeded the coverage that our surcharge provided. As a result, we have implemented an additional 3% price increase on all manufactured products to better align pricing with our current cost environment and support our continued investment in U.S. manufacturing. Effective August 1, 2026, all manufactured products will begin invoicing at the updated pricing structure. Orders invoiced on or after this date will reflect new pricing regardless of order placement date.
Importantly, more recent data suggests that the underlying demand that was present at the beginning of the year remains intact, as we have seen a rise in chassis sales over the past few weeks. We remain optimistic that retail activity will increase in the second half of the year, which would enable us to continue to accelerate production. With systems in place to closely monitor demand signals, we are well-positioned to respond quickly as market conditions improve. With backlog levels elevated, our international facilities production rates remain consistent as they work to meet steady customer demand. We remain encouraged by the outlook for our export business, driven by growing international sales and a robust pipeline of global military RFQs. These positive trends should provide a strong multiyear growth tailwind.
The acquisition of Omars and our EUR 8 million expansion at Jige in France, which remains on track to be completed by mid 2027, will both play significant roles in the success of our global initiatives. We continue to build a strong pipeline of military RFQs, continuing long-term growth in our overall business. We began 2026 with more than $150 million in military commitments, with production scheduled to begin in 2027, with the majority of revenue to be recognized in 2028 and 2029. We continue to work diligently with militaries around the globe and anticipate that defense-grade recovery vehicles will be an important contributor to our financial results in the years to come. To serve future demand, we are focused on being production-ready in Ooltewah's new 200,000+ square foot manufacturing facility by late 2027.
Site preparation for the capacity expansion remains on schedule, and we are targeting facility construction to begin by late summer. As we shared last quarter, this investment will streamline heavy duty workflow and enhance our manufacturing efficiencies. The new facility will be key to producing global high-volume defense-grade recovery vehicles, as well as meeting increased demand for our global export markets while maintaining the ability to service our North American customer base. Our strong ongoing cash flow generation position us to fund the majority of this expansion organically through operating cash flow over the next several years. We remain disciplined in how we allocate capital, focusing on five key priorities. Paying a consistent industry-leading quarterly dividend of $0.21 per share. We reduced our credit facility by $10 million, bringing the total debt balance to approximately $21 million at the end of the quarter.
Share repurchases, including $2.2 million in the first quarter and approximately $14 million remaining under our current authorization. Selective M&A opportunities and ongoing investment in capacity expansion, automation, and innovation. We're extremely proud that we paid our dividend for 62 consecutive quarters. In the first quarter, we returned approximately $4.6 million to shareholders between our dividend and share repurchase program. This balanced approach strengthens the company while also returning value directly to shareholders. As Debbie said earlier, our strong cash generation allows us to execute on each one of these priorities without the need for additional financing.
At this time, we remain optimistic that we are on track to generate between $850 million and $900 million in revenue for full year 2026 and expect earnings per share to be generally in line with full year 2025 results. While demand remains consistent, higher diesel prices and heightened uncertainty stemming from geopolitical tensions in the Middle East are leading customers to push orders. As a result, we expect production volumes and revenue to be increasingly weighted towards the second half of 2026. As external pressures on our industry lessen, we remain confident in our ability to approach $250 million in quarterly revenue by the second half of the year.
We also continue to expect that gross margins will return to historical levels in the mid 13% range for full year 2026, with product mix shifting towards historical levels of bodies and chassis. We look forward to meeting with investors to speak about these exciting developments throughout 2026 at the Three Part Advisors conferences in New York, Chicago, and Dallas. D.A. Davidson's Industrial Conference, and additional non-deal roadshows to be scheduled. We welcome continued dialogue with our shareholders. In closing, the entire management team and I would like to thank all of our employees, suppliers, customers, and shareholders for their continued support of Miller Industries. We are exceptionally well-positioned to manage near-term uncertainty and capitalize on long-term global growth. Thank you again for joining us. Operator, please open the line for questions.
Thank you. In a moment, we will open the call to questions. The company requests that all callers limit each turn to two questions from each analyst. If you would like to ask a question, please press one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Your first question comes from Michael Shlisky with D.A. Davidson. Please go ahead.
Yes, hi, good morning. Let's take my questions here.
Good morning, Mike. How are you?
I'm great, thank you. The one-time items that you mentioned, Debbie, in your comments, were those on the SG&A line in the quarter? Maybe more broadly, you added SG&A about $3 million quarter-over-quarter because of the Omars deal. First of all, is that the right number that Omars is a run rate or were there one-time items in there? Do you anticipate any synergies over time to reduce some of that SG&A?
Morning, Mike. Some of the one-time charges were at the gross margin line and some were at the SG&A line. About $600,000 is on the SG&A line that is related to those acquisition costs. The remaining amount will be pretty much the current run rate with a full quarter of Omars. The additional was the conservative approach that we took from a tax standpoint, as we continue to understand the deductibility under Italian tax law of those acquisition-related expenses. The combination of the three.
Great. The synergies?
What was that?
Opportunities to reduce SG&A in the future.
Oh, yes. You know, Omars was a standalone company, so they had a full staff of, you know, engineering, HR, accounting. We feel like the leverage that we can get is the synergies between the three European companies as we go forward to either enhance efficiencies or combine that with the U.S. for reductions of cost.
Great. Thank you for that. I also wanted to ask about, from your comments, Will, on the military opportunities out there. Did anything move closer to the commitment phase during the quarter? In other words, how is the pipeline looking as far as getting closer to being able to book things?
Yeah, we've seen some movement in positive directions from a few RFQs throughout the quarter. And this time there's nothing specifically to add on any specific RFQ, but we're hoping that when we release Q2 earnings next quarter, that we'll have some additional information that we can provide to you and shareholders more specifically about some of the RFQs that we have commitments for and some that are in the pipeline that we believe will move forwards throughout the quarter.
Great. Hey, if you'll indulge me in one more here.
No, absolutely.
I wanna ask about Okay, yeah. They said two questions, but usually there's very few other folks on this call here, asking any questions.
They are.
I appreciate the time. Just wanna also ask the underlying reasons for a consumer to use a tow service. Are most of those kind of still intact? You know, the average age of a car remains, you know, all-time records, number of cars on the road, miles driven. Most of those things are still trending in, you know, Miller's favor, you think in 2026?
I believe so. I think, what we're seeing today is, individuals as they're looking to, you know, make that purchase of $100,000 to $1 million with, you know, diesel price ranging anywhere from $5 to $9 a gallon here in the U.S., that a little bit of uncertainty, with the current geopolitical tensions and waiting to see how that all levels out before they make that commitment. Obviously, we're still seeing some solid retail activity, but not at the levels where they were prior to six or eight weeks ago. I think that will quickly return once things in the Middle East settle down.
Your view of maybe the average tow fleet truck, is somewhat elevated.
Still in line.
Mm-hmm. Okay.
It's still in line. If anything, you know, last year, lower retail activity. If anything, the age of the fleet has aged out slightly more, which is a positive trend for us as customers look to replace fleets.
Great. That was where my question was going. I appreciate the call, everybody. I'll pass it along.
Absolutely, Mike. Thank you very much.
Thanks, Mike.
Thank you. We have reached the end of the question and answer session, and I will now turn the call over to William Miller for closing remarks. Please go ahead.
Thank you. I'd like to thank you all again for joining us on the call today, and we look forward to speaking with you on our second quarter conference call. If you would like information on how to participate and ask questions on the call, please visit our investor relations website, millerind.com/investors, or email [email protected]. Thank you, and may God bless you, and may God bless our troops.
Thank you. This concludes today's conference, and you may now disconnect your lines. Thank you all for your participation.
Investor releaseQuarter not tagged2026-04-30MILLER INDUSTRIES TO ANNOUNCE FIRST QUARTER 2026 RESULTS ON WEDNESDAY MAY 6, 2026
PR Newswire
MILLER INDUSTRIES TO ANNOUNCE FIRST QUARTER 2026 RESULTS ON WEDNESDAY MAY 6, 2026
CHATTANOOGA, Tenn., April 29, 2026 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the First Quarter ended March 31, 2026, on Wednesday, May 6, 2026, after market close. The Company will host a conference call the following day that will be simultaneously broadcast live over the Internet: Thursday, May 7, 2026 10:00 AM ET 9:00 AM CT 8:00 AM MT 7:00 AM PT Listeners can access the conference call live over the Internet at: https://app.webinar.net/NZVRAYXeQbW Please allow 15 minutes prior to the call to visit the site to download and install any necessary audio software. After the call has taken place, its archived version can be accessed at this website. About Miller Industries, Inc. Miller Industries is The World's Largest Manufacturer of Towing and Recovery Equipment®, and markets its towing and recovery equipment under a number of well-recognized brands, including Century®, Vulcan®, Chevron™, Holmes®, Challenger®, Champion®, Jige™, Boniface™, Omars™, Titan® and Eagle®. View original content:https://www.prnewswire.com/news-releases/miller-industries-to-announce-first-quarter-2026-results-on-wednesday-may-6-2026-302757763.html
Investor releaseQuarter not tagged2026-03-06Miller Industries Inc (MLR) Q4 2025 Earnings Call Highlights: Navigating Challenges and Setting ...
GuruFocus.com
Miller Industries Inc (MLR) Q4 2025 Earnings Call Highlights: Navigating Challenges and Setting ...
This article first appeared on GuruFocus. Fourth Quarter Revenue: $171.2 million, down 22.9% year-over-year. Fourth Quarter Gross Profit: $26.5 million or 15.5% of sales. Fourth Quarter Diluted EPS: $0.29 per share. Full-Year 2025 Revenue: $790.3 million, down 37.2% from 2024. Full-Year 2025 Gross Profit: $120.4 million or 15.2% of sales. Full-Year 2025 Net Income: $23 million or $1.98 per diluted share. SG&A Expenses: Increased due to onetime expenses related to the voluntary retirement program and workforce transitions. Omars Acquisition: Closed on December 2, contributing approximately one month to Q4 results. 2026 Revenue Guidance: Expected between $850 million and $900 million. 2026 Gross Margin Expectation: Anticipated to return to historical levels in the mid-13% range for the full year. Dividend Increase: Board increased quarterly dividend by 5% to $0.21 per share. Debt Reduction: Reduced to $20 million in January 2026. Share Repurchases: $2.2 million in Q4 of 2025. Warning! GuruFocus has detected 7 Warning Signs with MLR. Is MLR fairly valued? Test your thesis with our free DCF calculator. Release Date: March 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Miller Industries Inc (NYSE:MLR) achieved full-year revenue in line with revised expectations despite a challenging industry environment. The company completed the acquisition of Omars, expanding its European footprint and capitalizing on strong regional demand. Normalized distributor inventory levels provide greater visibility into retail demand, allowing for improved production cadence. The company has secured over $150 million in military commitments, representing a significant long-term growth opportunity. Miller Industries Inc (NYSE:MLR) increased its quarterly dividend by 5% and has consistently paid dividends for 61 consecutive quarters. Fourth-quarter revenue was down 22.9% year-over-year, reflecting reduced production to normalize distributor inventories. Full-year 2025 revenue decreased by 37.2% compared to 2024, indicating significant challenges in the market. SG&A expenses increased due to one-time costs related to a voluntary retirement program and workforce transitions. Transaction and integration costs related to the Omars acquisition impacted financial results. The company anticipates that gross margins will return to hi...
Investor releaseQuarter not tagged2026-03-06Miller Industries Q4 Earnings Call Highlights
MarketBeat
Miller Industries Q4 Earnings Call Highlights
Miller cut production in 2025 to work down elevated distributor inventories, driving Q4 revenue of $171.2 million and full-year revenue of $790.3 million, but management says inventories are normalized, production is ramping and it guided to 2026 revenue of $850–$900 million with gross margins returning to the mid‑13% range and stronger second‑half performance. The company closed the OMARS acquisition in December (one month of contribution), expects the deal to be accretive in year one, and is investing in European capacity (Jige expansion, Boniface efficiencies) while planning a $100 million, 200,000+ sq ft Ooltewah expansion to boost heavy‑duty production by late 2027. Miller reported more than $150 million of military commitments with production starting in 2027 and most revenue expected in 2028–29, and highlighted a strong export outlook across Europe, Australia, Japan, Mexico and Indonesia supported by a growing pipeline of military RFQs. Interested in Miller Industries, Inc.? Here are five stocks we like better. 3 Stocks You’ll Love to Own, But Hate To Encounter Miller Industries (NYSE:MLR) said it finished a challenging 2025 with fourth-quarter results “in line with our revised expectations,” as the company intentionally reduced production to work down elevated distributor inventory across its North American network. On its fourth-quarter 2025 earnings call, management pointed to improving retail order activity late in the quarter, momentum continuing into 2026, and a growing international and military opportunity set underpinning its 2026 outlook. For the fourth quarter, Miller reported revenue of $171.2 million, down 22.9% year-over-year, which management said was expected given the earlier decision to decrease production and allow distributor inventories to return to “historically normalized levels.” Gross profit was $26.5 million, representing 15.5% of sales, and diluted earnings per share were $0.29. → Uber and Joby Aviation Team Up: Game Changer or Hype? For the full year 2025, revenue totaled $790.3 million, down 37.2% from 2024. Gross profit was $120.4 million, or 15.2% of sales, and net income was $23.0 million, or $1.98 per diluted share. Management said sequential improvement in retail order activity late in the fourth quarter has carried into 2026. With distributor inventory now back to historical levels, the company said it has “greater v...
Investor releaseQuarter not tagged2026-03-06Miller Industries (MLR) Earnings Call Transcript
Motley Fool
Miller Industries (MLR) Earnings Call Transcript
Image source: The Motley Fool. Thursday, March 5, 2026 at 10 a.m. ET Chairman of the Board and Co-Chief Executive Officer — William G. Miller Executive Vice President, Chief Financial Officer, and Treasurer — Deborah L. Whitmire William G. Miller: Good morning, everyone. And thank you for joining us for our fourth quarter and full year 2025 earnings call. I want to begin by thanking our employees around the world for dedication throughout the year. Our results and strategic progress reflect the commitment and passion of our team, our suppliers, our customers, and our shareholders. As always, our remarks today will include forward-looking statements. Actual results may differ materially. Please refer to our SEC filings and the Safe Harbor statement included in today's presentation. I would like to start with a brief overview before I hand the call over to Deborah L. Whitmire, who will review our results in greater detail. We were pleased to deliver a fourth quarter that led to generating full year revenue in line with our revised expectations despite a challenging industry environment. I am incredibly proud of the way our team rose to the challenge this year, focusing on operating discipline in the areas of the business within our control. We have over 1,500 employees across Tennessee, Pennsylvania, France, the United Kingdom, and Italy. And our footprint gives us unmatched reach, capability, and reliability. During the year, we made many difficult but necessary decisions to protect the long-term health of the business. These included strategically decreasing production in response to elevated field inventory in our North American distribution network, rightsizing our cost structure for the current environment, and strengthening our supply chain to mitigate the impacts of tariffs. We also achieved meaningful milestones, completing the acquisition of OMARS in an effort to expand our European footprint and take advantage of the strong demand we are seeing in the region, particularly for our heavy-duty products. More on that shortly. Our core philosophy remains exactly as it has been since day one. Miller Industries, Inc. has the best people, the best products, and the best distribution network in the towing and recovery industry. That philosophy is the backbone of Miller Industries, Inc.'s 35-year history and continues to position the company for future growth....
Investor releaseQuarter not tagged2026-03-05MILLER INDUSTRIES REPORTS 2025 FOURTH QUARTER AND FULL YEAR RESULTS
PR Newswire
MILLER INDUSTRIES REPORTS 2025 FOURTH QUARTER AND FULL YEAR RESULTS
Completed Acquisition of Omars to Expand the Company's European Footprint Ended 2025 with More Than $150 Million in Global Military Commitments Approved Significant Capacity Expansion at Ooltewah Facility to Support Future Growth Board of Directors Approves 5% Increase in Dividend to $0.21 per Share CHATTANOOGA, Tenn., March 4, 2026 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") today announced financial results for the fourth quarter and full year ended December 31, 2025, and provided updates on its global strategic initiatives. Q4 2025 Financial Results vs. Q4 20241 Revenue: $171.2 million, a 22.9% decrease from $221.9 million Gross Profit: $26.5 million, a 20.7% decrease from $33.5 million Gross Margin: 15.5%, a 40 basis point increase from 15.1% SG&A Expenses: $21.1 million, a 7.1% increase from $19.7 million Net Income: $3.4 million, a 67.6% decrease from $10.5 million Diluted EPS: $0.29 per share, a decrease of 67.6% from $0.91 per diluted share Fourth Quarter Business Highlights Completed the acquisition of Omars—S.p.A., a manufacturer of light-duty, medium-duty and heavy-duty recovery vehicles and car carriers based in Italy with a well-recognized European brand. Continued the growth of the Company's military production business; ended 2025 with $150 million in military commitments for heavy–duty recovery products, with production beginning in 2027 and the majority of revenue expected in 2028 and 2029. Investing in European production capability through the ongoing €8 million expansion of production at Jige – which is expected to double its heavy–duty integration capacity – while investing in production efficiencies at Boniface for light- and heavy-duty units. Began preparation for construction of a new manufacturing facility at the Company's Ooltewah headquarters, which is expected to be production–ready in late 2027 to significantly enhance North American production capacity and manufacturing support for the Company's European operations and military production. "We are extremely proud of how our team executed throughout 2025," said William G. Miller II, Chief Executive Officer. "From normalizing distributor inventory levels to strengthening our European footprint and preparing for major military programs, we enter 2026 with tremendous momentum." Miller continued, "Our manufacturing expansion in Ooltewah,...
Investor releaseQuarter not tagged2026-03-05Miller Industries, Inc. Q4 2025 Earnings Call Summary
Moby
Miller Industries, Inc. Q4 2025 Earnings Call Summary
Management intentionally reduced production in 2025 to allow North American distributor inventories to return to historically normalized levels. Performance was impacted by a challenging industry environment, leading to a 37.2% annual revenue decline as the company prioritized operating discipline over volume. The acquisition of OMARS in Italy serves as a strategic manufacturing and distribution hub to capitalize on strong European demand for heavy-duty products. Strategic cost-cutting measures included a voluntary retirement program and rightsizing the workforce to match lower production levels during the market recalibration. Supply chain strengthening initiatives were implemented specifically to mitigate potential impacts from tariffs and improve lead times for international subsidiaries. The company is shifting from a defensive posture to growth, supported by improved visibility into retail demand and a methodical ramp-up of U.S. production. Full-year 2026 revenue is projected between $850,000,000 and $900,000,000, with performance expected to accelerate in the second half of the year. Gross margins are anticipated to return to historical mid-13% levels as product mix normalizes and manufacturing activity increases. A $100,000,000 investment in a new 200,000-square-foot facility at Ooltewah is planned to unlock capacity for high-volume defense and export orders by late 2027. The company entered 2026 with over $150,000,000 in secured military commitments, with the majority of revenue recognition slated for 2028 and 2029. An €8,000,000 expansion at the Zuzain facility in France is expected to double heavy-duty integration capacity by mid-2027 to meet sustained European demand. The OMARS acquisition closed on December 2, 2025, contributing only one month of results to the fourth quarter but expected to be accretive in year one. SG&A expenses were elevated due to one-time costs from voluntary retirements, workforce transitions, and OMARS integration expenses. Debt was significantly reduced to $20,000,000 by January 2026 through diligent working capital management and inventory reductions. The Board increased the quarterly dividend by 5% to $0.21 per share, marking 61 consecutive quarters of dividend payments. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here...
Investor releaseQuarter not tagged2026-03-05Miller Industries: Q4 Earnings Snapshot
Associated Press Finance
Miller Industries: Q4 Earnings Snapshot
OOLTEWAH, Tenn. (AP) — OOLTEWAH, Tenn. (AP) — Miller Industries Inc. (MLR) on Wednesday reported net income of $3.4 million in its fourth quarter. On a per-share basis, the Ooltewah, Tennessee-based company said it had net income of 29 cents. The vehicle towing and recovery equipment maker posted revenue of $171.2 million in the period. For the year, the company reported profit of $23 million, or $1.98 per share. Revenue was reported as $790.3 million. Miller Industries expects full-year revenue in the range of $850 million to $900 million. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLR at https://www.zacks.com/ap/MLR
Investor releaseQuarter not tagged2026-03-05Miller Industries Q4 Earnings, Net Sales Decline; Quarterly Dividend Increased
MT Newswires
Miller Industries Q4 Earnings, Net Sales Decline; Quarterly Dividend Increased
Miller Industries (MLR) reported Q4 earnings late Wednesday of $0.29 per diluted share, down from $0