Miller Industries faced significant challenges in the second quarter of 2025, including a sharp decline in net sales and net income, as well as lower consumer confidence affecting order intake. Despite these challenges, the company improved its gross margin, reduced debt, and increased its cash balance. While there are positive signs in military contracts and RFQ activity, the suspension of earnings guidance and ongoing CARB regulation issues present uncertainties. Overall, the highlights and lowlights are fairly balanced in this earnings call.

Company Guidance -

Q3 2025

In the recent Miller Industries second-quarter 2025 conference call, the company provided revised guidance, anticipating revenues between $750 million and $800 million for the fiscal year while suspending earnings per share guidance due to ongoing market uncertainties. Net sales for Q2 2025 were reported at $214 million, reflecting a 42.4% decrease from the previous year, primarily due to a drop in chassis volumes. Despite the decline in sales, the gross profit margin improved to 16.2% of net sales, attributed to a favorable product mix. The company also highlighted a decrease in interest expenses by 85.6% from the prior year, resulting from reduced debt levels and lower customer floor plan expenses. Miller Industries is taking proactive steps to address industry-wide demand headwinds, focusing on cost reduction initiatives and production adjustments to normalize inventory levels, with expectations of a potential commercial market recovery in the near term. The company's cash balance increased to $31.8 million, and they reduced their debt to $50 million, emphasizing their strategic positioning for future growth despite current challenges.

Gross Margin Improvement

Gross profit margin improved to 16.2% from 13.8% year-over-year due to a higher percentage of body deliveries compared to chassis volumes.

Debt Reduction

Reduced debt balance by $20 million during the second quarter, with an additional $5 million paid down since, bringing the current balance to $50 million.

Increased Cash Balance

Cash balance increased by $4.4 million sequentially and $7.5 million since the end of last year, reaching $31.8 million.

Military Contracts and RFQs

Continued activity in military contracts with a recently signed agreement with the Canadian military and ongoing RFQs, indicating potential future business growth.

Miller Industries (MLR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MLR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	0.02 / -	1.33	―	―	―
Aug 06, 2025	2025 (Q2)	0.55 / 0.73	1.78	-58.99% (-1.05)	―
May 07, 2025	2025 (Q1)	0.63 / 0.69	1.473	-53.16% (-0.78)	―
Mar 05, 2025	2024 (Q4)	1.19 / 0.91	1.449	-37.20% (-0.54)	―
Nov 12, 2024	2024 (Q3)	1.33 / 1.33	1.516	-12.27% (-0.19)	―
Aug 07, 2024	2024 (Q2)	- / 1.78	1.294	37.56% (+0.49)	―
May 08, 2024	2024 (Q1)	- / 1.47	0.807	82.53% (+0.67)	―
Mar 06, 2024	2023 (Q4)	- / 1.45	0.814	78.01% (+0.64)	―
Nov 08, 2023	2023 (Q3)	- / 1.52	0.458	231.00% (+1.06)	―
Aug 09, 2023	2023 (Q2)	- / 1.29	0.329	293.31% (+0.97)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MLR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$41.54	$39.74	-4.33%
May 07, 2025	$42.05	$44.83	+6.61%
Mar 05, 2025	$54.38	$46.06	-15.30%
Nov 12, 2024	$75.75	$67.86	-10.42%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Miller Industries, Inc. (MLR) report earnings?

Miller Industries, Inc. (MLR) is schdueled to report earning on Nov 05, 2025, After Close (Confirmed).

What is Miller Industries, Inc. (MLR) earnings time?

Miller Industries, Inc. (MLR) earnings time is at Nov 05, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MLR EPS forecast?

MLR EPS forecast for the fiscal quarter 2025 (Q3) is 0.02.

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