MLR News & Events

Expects FY26 earnings per share to be generally in line with full year 2025 results. Given geopolitical tensions in the Middle East and resulting higher diesel prices, Miller Industries expects production volumes to be weighted toward the second half of 2026. While macroeconomic conditions remain dynamic, the company remains optimistic that revenue will approach $250M per quarter by the second half of 2026. Gross margins are expected to return to historical levels in the mid-13% range for full year 2026, with revenue mix shifting toward historical levels of bodies and chassis.

Miller Industries continues to experience ongoing pricing pressure driven by tariff impacts, regulatory and compliance requirements, and the elevated cost structure associated with manufacturing in the U.S. While the company implemented a surcharge in April 2025 to partially offset these pressures, continued cost increases have exceeded the coverage provided by that surcharge. As a result, the company announced that the existing surcharge will be rolled into its standard pricing structure. In addition, Miller Industries will implement a 3% price increase on all manufactured products invoiced after July 31, 2026. These actions are intended to better align pricing with the current cost environment while supporting continued investment in U.S. manufacturing, product quality, safety, and regulatory compliance. Management remains focused on disciplined cost control and operational efficiency initiatives; however, these pricing adjustments are necessary to help mitigate ongoing margin pressure and maintain the long-term sustainability of Miller Industries' domestic manufacturing operations.

Reports Q1 revenue $180.9M vs. $225.7M last year. "First-quarter performance was consistent with our expectations, as we continued to carefully increase production in response to improving retail activity and order flow, driving sequential revenue growth," said William Miller II, Chief Executive Officer. "Near-term profitability continues to reflect elevated acquisition-related costs associated with Omars; however, we expect these expenses to moderate as the year progresses. Importantly, the business continued to generate solid cash flow, further strengthening our balance sheet and financial flexibility."