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Miller Industries
Miller Industries (MLR) investor relations material
Miller Industries Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Mar, 2026
Executive summary
Q4 2025 revenue was $171.2M, down 22.9% year-over-year and 4.6% sequentially; full-year 2025 revenue was $790.3M, down 37.2% from 2024.
Net income for Q4 2025 was $3.4M, down 67.6% year-over-year; full-year net income was $23.0M, down 63.8% year-over-year.
EPS for Q4 2025 was $0.29, down 67.6% year-over-year; full-year EPS was $1.98, down 63.8% year-over-year.
Completed Omars acquisition to expand European presence and secured over $150M in military commitments for 2027–2029.
Announced $100M Ooltewah facility expansion and a 5% dividend increase.
Financial highlights
Q4 2025 gross profit was $26.5M, down 20.7% year-over-year but up 4.7% sequentially; gross margin was 15.5%.
Full-year 2025 gross profit was $120.4M (15.2% margin); diluted EPS was $1.98.
SG&A expenses rose due to one-time retirement program costs and workforce transitions.
$15.1M returned to shareholders in 2025 via dividends and buybacks.
Cash and cash equivalents increased to $44.7M at year-end 2025.
Outlook and guidance
2026 revenue guidance is $850M–$900M, with quarterly revenue expected to approach $250M by H2 2026.
Gross margins for 2026 expected to normalize in the mid-13% range.
Capital expenditures will increase through 2026 and 2027, funded mostly by operating cash flow.
Confidence in outlook supported by improved data analytics and normalized inventory levels.
Production volumes anticipated to rise through H1 2026, stabilizing to meet retail demand in H2.
Military contract pipeline and revenue timing
Funding plan for the $100M Ooltewah expansion
Product mix vs cost cuts in margin recovery
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Next Miller Industries earnings date
Q1 20267 May, 2026
Miller Industries
Next Miller Industries earnings date
Q1 20267 May, 2026
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Frequently asked questions
Miller Industries, Inc. is a U.S.-based manufacturer of towing and recovery equipment. The company designs, produces, and markets a wide range of products, including light- and heavy-duty wreckers, car carriers, and multi-vehicle transport trailers. Miller Industries serves towing operators, government agencies, and commercial transportation businesses. The company is headquartered in Ooltewah, Tennessee, and its shares are listed on the New York Stock Exchange (NYSE).
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