Miller Industries, Inc. ( (MLR) ) has released its Q1 earnings. Here is a breakdown of the information Miller Industries, Inc. presented to its investors.
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Miller Industries, Inc., the world’s largest manufacturer of towing and recovery equipment, markets its products under several well-recognized brands and operates primarily in the automotive sector.
In its latest earnings report, Miller Industries announced a significant decrease in net sales for the first quarter of 2025, attributed mainly to a decline in chassis shipments as the industry stabilizes post-supply chain disruptions. Despite this, the company maintained a strong gross margin due to a favorable product mix shift.
Key financial highlights include a 35.5% drop in net sales to $225.7 million compared to the previous year, and a 52.6% decline in net income to $8.1 million. However, the gross profit margin improved to 15.0% from 12.6% due to changes in product mix. The company also declared a quarterly cash dividend of $0.20 per share, continuing its long-standing tradition of returning capital to shareholders.
Looking ahead, Miller Industries remains optimistic about future growth, focusing on reducing inventory and lead times while managing tariff-related uncertainties. The company is also diversifying its supply chain and sees promising opportunities in the global military market, positioning itself for a stronger performance in the latter half of 2025 and beyond.