Miller Industries Reports Q2 2025 Financial Results

Miller Industries, Inc. ( (MLR) ) has released its Q2 earnings. Here is a breakdown of the information Miller Industries, Inc. presented to its investors.

Miller Industries, Inc., a leading manufacturer of towing and recovery equipment, has reported its financial results for the second quarter of 2025, highlighting significant challenges and strategic adjustments. The company experienced a notable decline in net sales, dropping by 42.4% to $214 million compared to the same period last year, primarily due to a decrease in product shipments, particularly chassis. Despite the sales drop, the gross profit margin improved to 16.2%, attributed to a shift in sales mix towards higher-margin products.

Key financial metrics reveal a decrease in net income by 58.8%, amounting to $8.5 million, or $0.73 per diluted share, compared to the previous year’s figures. The company attributes this downturn to reduced demand driven by lower consumer confidence and elevated costs of ownership. Selling, general, and administrative expenses also increased, influenced by higher stock-based compensation and employee-related costs.

In response to these challenges, Miller Industries is taking proactive measures to adjust production levels and reduce channel inventory. The company remains optimistic about its long-term prospects, citing fundamental industry drivers such as increased miles driven and vehicle age. Additionally, the company is focusing on operational efficiency and capital allocation to position itself for future growth.

Looking ahead, Miller Industries anticipates a recovery in the commercial market and potential growth from pending military contracts. The company has revised its revenue guidance for 2025 to a range of $750 to $800 million, while suspending earnings per share guidance due to ongoing operational evaluations. Management remains confident in the company’s fundamentals and its ability to navigate current market conditions.