Miller Industries Announces 3% Price Increase on Products
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
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Should l Buy MLR?
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.
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About MLR
Miller Industries, Inc. is a manufacturer of towing and recovery equipment. The Company designs and manufactures bodies of car carriers and wreckers, which are installed on chassis manufactured by third parties and sold to its customers. Its products are marketed and sold through a network of distributors that serve over 50 states, Canada, Mexico, and other foreign markets, and through prime contractors to governmental entities. In addition to selling its products, its independent distributors provide end-users with parts and service. Its product line includes car carriers, wreckers, and transport trailers. Car carriers are specialized flat-bed vehicles with hydraulic tilt mechanisms that enable a towing operator to drive or winch a vehicle onto the bed for transport. Its multi-vehicle transport trailers are specialized auto transport trailers with upper and lower decks and hydraulic ramps for loading vehicles. Its brands include Century, Vulcan, Chevron, Holmes, Challenger and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Miller Industries Q1 2026 Earnings Call Insights
- Revenue Performance: Miller Industries reported Q1 revenue of $180.9 million, down 19.8% year-over-year but up 5.7% sequentially, demonstrating resilience amid external pressures, although overall market demand is impacted by geopolitical tensions.
- Acquisition Integration Contribution: This quarter marks the first full contribution from the Omars acquisition, despite a reduction of approximately $0.13 per diluted share due to acquisition-related expenses, indicating ongoing challenges in the integration process that require attention.
- Pricing Adjustment Strategy: The company announced an additional 3% price increase on all manufactured products effective August 1, 2026, to address ongoing cost pressures, reflecting management's sensitivity and responsiveness to market dynamics.
- Future Outlook: Management reaffirmed the revenue target for 2026 to be between $850 million and $900 million, with expectations for gross margins to return to historical mid-13% levels, indicating confidence in demand recovery in the second half of the year.
See More
Miller Industries Declares $0.21 Quarterly Dividend, Maintains Forward Yield
- Quarterly Dividend Announcement: Miller Industries (MLR) declares a quarterly dividend of $0.21 per share, consistent with previous distributions, indicating the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield stands at 1.72%, reflecting the company's attractiveness in the current market environment, which may draw in more income-focused investors.
- Dividend Payment Timeline: The dividend is payable on June 8, with a record date of June 1 and an ex-dividend date also set for June 1, ensuring shareholders receive their returns promptly.
- Future Revenue Target: Miller Industries outlines a revenue target of $850 million to $900 million for 2026, driven by military and European expansion, demonstrating the company's confidence in future growth prospects.
See More
Miller Industries Q1 Earnings Miss Expectations
- Disappointing Earnings: Miller Industries reported a Q1 GAAP EPS of $0.05, missing expectations by $0.22, indicating a significant decline in profitability that may affect investor confidence.
- Revenue Decline: The company generated $180.9 million in revenue for Q1, a 19.8% year-over-year decrease that fell short of expectations, reflecting challenges from weak market demand and increased competition.
- Gross Margin Pressure: Gross profit was $25.7 million, down 24.3% from $33.9 million last year, with a gross margin of 14.2%, indicating potential pressures on cost control and pricing strategies.
- Guidance Reaffirmation: Miller reaffirmed its revenue guidance of $850 million to $900 million for 2026, expecting EPS to align with 2025 results, demonstrating confidence in future growth despite current performance issues.
See More
Miller Industries Reports Q1 Results and Expansion Plans
- Revenue Growth Trend: Miller Industries reported Q1 revenue of $180.86 million, a 19.8% decline year-over-year, primarily impacted by non-cash acquisition-related expenses from Omars, which are expected to continue affecting financial performance throughout 2026.
- Capacity Expansion: The company is adding a new 200,000+ sq ft facility in Ooltewah at a cost of approximately $100 million, aimed at increasing overall production capacity to meet European demand and defense production commitments, with plans to fund this expansion through operating cash flow.
- Shareholder Return Policy: The Board approved a quarterly cash dividend of $0.21 per share, marking the 62nd consecutive quarter of dividends, and the company repurchased approximately $2.2 million in stock during Q1, demonstrating a continued commitment to shareholder returns.
- Market Environment Challenges: Rising geopolitical tensions in the Middle East have led to increased diesel prices, prompting the company to pause its North American production plans to maintain distributor inventory balance, which is expected to negatively impact revenue and profitability in Q2.
See More
Miller Industries Q4 2025 Earnings Call Insights
- Revenue Performance: Miller Industries reported Q4 2025 revenue of $171.2 million, down 22.9% year-over-year; however, the full-year revenue of $790.3 million aligned with revised expectations, demonstrating resilience in a challenging industry environment.
- Acquisition Impact: The company completed the acquisition of Omars on December 2, contributing only one month of performance in Q4, yet it is expected to enhance its competitive position in the European market, particularly amid strong demand for heavy-duty products.
- Future Outlook: Management anticipates revenues between $850 million and $900 million for 2026, with production levels expected to rise methodically, projecting quarterly revenues to approach $250 million in the second half of the year, reflecting confidence in market recovery.
- Cost Structure Adjustment: Although SG&A expenses increased due to one-time retirement program costs and acquisition expenses, the company plans to enhance gross margins by optimizing production and workforce allocation, with expectations to return to historical averages in the mid-13% range.
See More
Miller Industries Declares 5% Increase in Quarterly Dividend
- Dividend Increase: Miller Industries has declared a quarterly dividend of $0.21 per share, reflecting a 5% increase from the previous dividend of $0.20, indicating the company's ability to maintain stable cash flow despite an unclear recovery path.
- Yield Performance: The forward yield of 1.83% offers investors a relatively attractive return, appealing to those seeking income stability in a complex market environment, thereby enhancing investor interest.
- Payment Schedule: The dividend is payable on March 23, with a record date of March 16 and an ex-dividend date also on March 16, ensuring shareholders receive their earnings promptly, which bolsters investor confidence.
- Financial Transparency: Miller Industries provides a dividend scorecard and yield chart, enhancing market understanding of its financial health and assisting investors in making informed decisions regarding their investments.
See More
Miller Industries Q1 2026 Earnings Call Insights
- Revenue Performance: Miller Industries reported Q1 revenue of $180.9 million, down 19.8% year-over-year but up 5.7% sequentially, demonstrating resilience amid external pressures, although overall market demand is impacted by geopolitical tensions.
- Acquisition Integration Contribution: This quarter marks the first full contribution from the Omars acquisition, despite a reduction of approximately $0.13 per diluted share due to acquisition-related expenses, indicating ongoing challenges in the integration process that require attention.
- Pricing Adjustment Strategy: The company announced an additional 3% price increase on all manufactured products effective August 1, 2026, to address ongoing cost pressures, reflecting management's sensitivity and responsiveness to market dynamics.
- Future Outlook: Management reaffirmed the revenue target for 2026 to be between $850 million and $900 million, with expectations for gross margins to return to historical mid-13% levels, indicating confidence in demand recovery in the second half of the year.
See More
Miller Industries Declares $0.21 Quarterly Dividend, Maintains Forward Yield
- Quarterly Dividend Announcement: Miller Industries (MLR) declares a quarterly dividend of $0.21 per share, consistent with previous distributions, indicating the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield stands at 1.72%, reflecting the company's attractiveness in the current market environment, which may draw in more income-focused investors.
- Dividend Payment Timeline: The dividend is payable on June 8, with a record date of June 1 and an ex-dividend date also set for June 1, ensuring shareholders receive their returns promptly.
- Future Revenue Target: Miller Industries outlines a revenue target of $850 million to $900 million for 2026, driven by military and European expansion, demonstrating the company's confidence in future growth prospects.
See More
Miller Industries Q1 Earnings Miss Expectations
- Disappointing Earnings: Miller Industries reported a Q1 GAAP EPS of $0.05, missing expectations by $0.22, indicating a significant decline in profitability that may affect investor confidence.
- Revenue Decline: The company generated $180.9 million in revenue for Q1, a 19.8% year-over-year decrease that fell short of expectations, reflecting challenges from weak market demand and increased competition.
- Gross Margin Pressure: Gross profit was $25.7 million, down 24.3% from $33.9 million last year, with a gross margin of 14.2%, indicating potential pressures on cost control and pricing strategies.
- Guidance Reaffirmation: Miller reaffirmed its revenue guidance of $850 million to $900 million for 2026, expecting EPS to align with 2025 results, demonstrating confidence in future growth despite current performance issues.
See More
Miller Industries Reports Q1 Results and Expansion Plans
- Revenue Growth Trend: Miller Industries reported Q1 revenue of $180.86 million, a 19.8% decline year-over-year, primarily impacted by non-cash acquisition-related expenses from Omars, which are expected to continue affecting financial performance throughout 2026.
- Capacity Expansion: The company is adding a new 200,000+ sq ft facility in Ooltewah at a cost of approximately $100 million, aimed at increasing overall production capacity to meet European demand and defense production commitments, with plans to fund this expansion through operating cash flow.
- Shareholder Return Policy: The Board approved a quarterly cash dividend of $0.21 per share, marking the 62nd consecutive quarter of dividends, and the company repurchased approximately $2.2 million in stock during Q1, demonstrating a continued commitment to shareholder returns.
- Market Environment Challenges: Rising geopolitical tensions in the Middle East have led to increased diesel prices, prompting the company to pause its North American production plans to maintain distributor inventory balance, which is expected to negatively impact revenue and profitability in Q2.
See More
Miller Industries Q4 2025 Earnings Call Insights
- Revenue Performance: Miller Industries reported Q4 2025 revenue of $171.2 million, down 22.9% year-over-year; however, the full-year revenue of $790.3 million aligned with revised expectations, demonstrating resilience in a challenging industry environment.
- Acquisition Impact: The company completed the acquisition of Omars on December 2, contributing only one month of performance in Q4, yet it is expected to enhance its competitive position in the European market, particularly amid strong demand for heavy-duty products.
- Future Outlook: Management anticipates revenues between $850 million and $900 million for 2026, with production levels expected to rise methodically, projecting quarterly revenues to approach $250 million in the second half of the year, reflecting confidence in market recovery.
- Cost Structure Adjustment: Although SG&A expenses increased due to one-time retirement program costs and acquisition expenses, the company plans to enhance gross margins by optimizing production and workforce allocation, with expectations to return to historical averages in the mid-13% range.
See More
Miller Industries Declares 5% Increase in Quarterly Dividend
- Dividend Increase: Miller Industries has declared a quarterly dividend of $0.21 per share, reflecting a 5% increase from the previous dividend of $0.20, indicating the company's ability to maintain stable cash flow despite an unclear recovery path.
- Yield Performance: The forward yield of 1.83% offers investors a relatively attractive return, appealing to those seeking income stability in a complex market environment, thereby enhancing investor interest.
- Payment Schedule: The dividend is payable on March 23, with a record date of March 16 and an ex-dividend date also on March 16, ensuring shareholders receive their earnings promptly, which bolsters investor confidence.
- Financial Transparency: Miller Industries provides a dividend scorecard and yield chart, enhancing market understanding of its financial health and assisting investors in making informed decisions regarding their investments.
See More
