Miller Industries

Miller Industries, Inc. (Tennessee) engages in the manufacture of vehicle towing and recovery equipment. Its products include car carriers, light duty, heavy duty, rotators, and special transport. The firm markets its products under the brand names of Century, Challenger, Holmes, Champion, Eagle, Titan, Jige, Boniface, Vulcan, and Chevron. The company was founded by William G. Miller in 1990 and is headquartered in Ooltewah, TN.

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Miller Industries posts strong Q4 results, eyes $1B revenue in 2023

Miller Industries delivered robust financial performance in Q4 2022, showcasing growth, profitability, and strategic positioning for future success.
The company's emphasis on operational improvements, shareholder value, and market competitiveness underpins its growth trajectory.
While challenges like supply chain disruptions persist, Miller Industries is well-positioned to capitalize on opportunities for revenue expansion and market leadership.

Miller Industries achieves record Q1 revenue and profitability growth

Miller Industries delivered exceptional financial results in Q1 2023, driven by revenue growth, improved profitability, and strong international demand.
While facing challenges in cash management and working capital, the company's strategic governance changes and dividend consistency highlight its resilience and commitment to shareholders.

Miller Industries (MLR) excels in Q2 2023, eyes $1B revenue

Miller Industries delivered robust financial performance in Q2 2023, driven by revenue growth, gross margin expansion, and increased net income, reflecting operational strength and strategic execution.
While facing challenges such as elevated backlogs and supply chain disruptions, the company's focus on debt reduction, dividend payments, and growth initiatives underscores resilience and long-term vision.
With a positive outlook for sustaining profitability, generating significant revenue, and leveraging market opportunities, Miller Industries remains well-positioned for continued success and value creation.

Miller Industries reports strong Q3 performance amidst supply chain challenges

Miller Industries delivered robust financial results in Q3 2023, driven by revenue growth and improved gross margins.
While facing challenges with supply chain disruptions, the company remains focused on operational efficiency and customer satisfaction.
Strategic initiatives to return capital to shareholders and invest in growth underscore the company's commitment to long-term value creation.

Miller Industries reports record-breaking revenues and strategic growth plans

Miller Industries delivered a stellar performance in Q4 2023, achieving record revenues and profits, exceeding targets, and maintaining a strong financial position.
The company's strategic focus on capital allocation, shareholder value, and operational efficiency positions it well for future growth and value creation.
While challenges in sustaining growth and managing costs exist, Miller Industries remains optimistic about its business strategy and growth prospects for fiscal year 2024.
With a commitment to rewarding shareholders, investing in the business, and pursuing growth opportunities, Miller Industries aims to drive continued success and value creation.

Miller Industries reports record Q1 revenues and strategic growth plans

Miller Industries delivered impressive financial results in Q1 2024, showcasing robust revenue growth, improved profitability, and enhanced shareholder value through dividend increases and share repurchases. While facing minor supply chain challenges, the company remains well-positioned to capitalize on opportunities for expansion and sustained growth in the coming quarters.

Miller Industries excels in Q3, eyes international growth opportunities

Miller Industries demonstrates resilience and growth potential amidst challenges, focusing on strategic expansion, financial discipline, and shareholder value creation.

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CHATTANOOGA, Tenn. , April 2, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") today announced that its Board of Directors has authorized a $25.0 million share repurchase program.

MILLER INDUSTRIES BOARD AUTHORIZES NEW SHARE REPURCHASE PROGRAM

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CHATTANOOGA, Tenn., March 21, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company"), the World's Largest Manufacturer of Towing and Recovery Equipment, today responded to a public statement issued by Advisory Research, a shareholder in Miller Industries, calling on the Miller Industries Board of Directors (the "Board") to form a special committee and conduct a strategic review process.

MILLER INDUSTRIES ISSUES STATEMENT IN RESPONSE TO SHAREHOLDER LETTER

CHICAGO--(BUSINESS WIRE)--Advisory Research, Inc., which owns approximately 3.25% of Miller Industries' (NYSE: MLR) (“Miller” or the “Company”) outstanding shares, today sent the below letter to the Company's Board of Directors (the “Board”). *** March 21, 2024 Miller Industries 8503 Hilltop Drive, Suite 100 Ooltewah, TN 37363 Attn: The Board of Directors (the “Board”) Members of the Board, Advisory Research, Inc. (together with its affiliates, “Advisory Research” or “we”) is a long-term, top s.

Advisory Research Sends Letter to Miller Industries' Board of Directors Regarding Opportunities to Enhance Shareholder Value

Miller Industries, Inc. (NYSE:MLR ) Q4 2023 Earnings Conference Call March 7, 2024 10:00 AM ET Company Participants Mike Gaudreau - Investor Relations, FTI Consulting Will Miller - President & Chief Executive Officer Debbie Whitmire - Executive Vice President & Chief Financial Officer Operator Good day, ladies and gentlemen, and welcome to the Miller Industries Fourth Quarter and Full Year 2023 Results Conference Call. Please note, this event is being recorded.

Miller Industries, Inc. (MLR) Q4 2023 Earnings Call Transcript

CHATTANOOGA, Tenn. , March 6, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") today announced financial results for the fourth quarter and full year ended December 31, 2023.

MILLER INDUSTRIES REPORTS 2023 FOURTH QUARTER AND FULL YEAR RESULTS

CHATTANOOGA, Tenn. , March 6, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") the World's Largest Manufacturer of Towing and Recovery Equipment, today declared that its Board of Directors approved a 5.6% increase in the Company's quarterly dividend to $0.19 per share.

MILLER INDUSTRIES BOARD INCREASES DIVIDEND

CHATTANOOGA, Tenn. , Feb. 28, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Fourth Quarter and Full Year ended December 31, 2023, on Wednesday, March 6, 2024, after market close.

MILLER INDUSTRIES TO ANNOUNCE FOURTH QUARTER AND FULL YEAR 2023 RESULTS ON WEDNESDAY MARCH 6, 2024

CHATTANOOGA, Tenn. , Feb. 26, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") the World's Largest Manufacturer of Towing and Recovery Equipment, today announced its Annual Meeting of Shareholders (the "Annual Meeting") will be held on June 21, 2024, at the Hilton Garden Inn Hotel, 879 College Drive, Dalton, Georgia 30720.

MILLER INDUSTRIES ANNOUNCES DATE OF THE ANNUAL MEETING OF SHAREHOLDERS

CHATTANOOGA, Tenn. , Feb. 6, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") today announced preliminary financial results for the Fourth Quarter and Full Year ended December 31, 2023, ahead of upcoming meetings with investors.

MILLER INDUSTRIES REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2023 RESULTS

When I initiated coverage of Miller Industries, I wrote that the market is ignoring the operating leverage story that will unfold due to the company's recent investments in manufacturing. These investments led to improved fulfillment of the company's backlog at high margins. Earnings have surpassed my expectations, but the stock has not moved. This lack of interest from the market is leaving investors with an opportunity to buy shares at a great price.

Miller Industries: Remains Underfollowed And Undervalued

CHATTANOOGA, Tenn. , Nov. 14, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company"), the World's Largest Manufacturer of Towing and Recovery Equipment, today announced that Chief Executive Officer, William Miller II, and Chief Financial Officer, Deborah Whitmire, will host one-on-one meetings with investors at the Southwest IDEAS Investor Conference on November 15, 2023, in Dallas.

Miller Industries to Host 1x1 Meetings with Investors at the Southwest IDEAS Investor Conference

Miller Industries, Inc. (NYSE:MLR ) Q3 2023 Earnings Call Transcript November 9, 2023 10:00 AM ET Company Participants Mike Gaudreau - FTI Consulting Will Miller - President and CEO Debbie Whitmire - EVP and CFO Conference Call Participants Mike Shlisky - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to the Miller Industries Third Quarter 2023 Results Conference Call.

Miller Industries, Inc. (MLR) Q3 2023 Earnings Call Transcript

CHATTANOOGA, Tenn. , Nov. 8, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the third quarter ended September 30, 2023.

MILLER INDUSTRIES REPORTS 2023 THIRD QUARTER RESULTS

CHATTANOOGA, Tenn. , Nov. 1, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Third Quarter ended September 30, 2023, on Wednesday, November 8, 2023, after market close.

MILLER INDUSTRIES TO ANNOUNCE THIRD QUARTER 2023 RESULTS ON WEDNESDAY NOVEMBER 8, 2023

Miller Industries has experienced significant earnings growth over the past four quarters, with a 50% increase in top-line sales and an $11.2 million improvement in net profit. The company's debt position has increased, and its inventory levels are at the highest they have been in quite some time, which could pose risks in a volatile market. Miller's cash-flow generation has been impacted by working capital commitments, and its price-to-free cash flow ratio indicates that it is not cheap from a valuation perspective.

Miller Industries: Elevated Working Capital Needs Suggest More Share-Price Consolidation

CHATTANOOGA, Tenn. , Sept. 20, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR), the World's Largest Manufacturer of Towing and Recovery Equipment, today announced that Chief Executive Officer, William Miller II, and Chief Financial Officer, Deborah Whitmire, will host one-on-one meetings with investors at the D.A.

Miller Industries to Host 1x1 Meetings with Investors at the D.A. Davidson 22nd Annual Diversified Industrials and Services Conference

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Miller Industries, Inc. (NYSE:MLR ) Q2 2023 Results Conference Call August 10, 2023 10:00 AM ET Company Participants Mike Gaudreau - FTI Consulting Will Miller - President and CEO Debbie Whitmire - EVP and CFO Conference Call Participants Mike Shlisky - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to Miller Industries Second Quarter 2023 Results Conference Call.

Miller Industries, Inc. (MLR) Q2 2023 Earnings Call Transcript

CHATTANOOGA, Tenn. , Aug. 9, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the second quarter ended June 30, 2023.

MILLER INDUSTRIES REPORTS 2023 SECOND QUARTER RESULTS

CHATTANOOGA, Tenn. , Aug. 2, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Second Quarter ended June 30, 2023, on Wednesday, August 9, 2023, after market close.

MILLER INDUSTRIES TO ANNOUNCE SECOND QUARTER 2023 RESULTS ON WEDNESDAY AUGUST 9, 2023

I believe the market is ignoring Miller Industries' upcoming operating leverage story as they are just coming out of a big investment cycle. Miller Industries spent $82 million over the course of the past 5 years on modernizing and expanding their capacity. This will lead to sustainably high margins if demand holds up. Capex should also decline to around $20 million per year going forward, a significant decline when compared to the $40 million spent in 2022.

Miller Industries: The Market Is Missing This Operating Leverage Story

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CHATTANOOGA, Tenn. , May 31, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR), the World's Largest Manufacturer of Towing and Recovery Equipment, today announced that it has acquired Southern Hydraulic Cylinder, Inc., a custom hydraulic cylinder manufacturer, in an all-cash transaction for an aggregate purchase price of approximately $17.5 million, subject to certain pre- and post-closing adjustments for cash and net working capital.

MILLER INDUSTRIES ANNOUNCES ACQUISITION OF SOUTHERN HYDRAULIC CYLINDER

Miller Industries, Inc. (NYSE:MLR ) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Company Participants Michael Gaudreau - Investor Relations, FTI Consulting Will Miller - President & Chief Executive Officer Debbie Whitmire - Executive Vice President & Chief Financial Officer Conference Call Participants Arnold Ursaner - Ursaner Family Office Operator Good day, ladies and gentlemen, and welcome to the Miller Industries First Quarter Results Conference Call. Please note, this event is being recorded.

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