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Miller Industries, Inc. (NYSE: MLR) is the world's largest manufacturer of towing and recovery equipment. Headquartered in Chattanooga, Tennessee, the company also operates additional manufacturing facilities in Greeneville, TN, Hermitage, PA, and Mercer, PA. Miller Industries specializes in producing a wide range of vehicle towing and recovery equipment, including wreckers, car carriers, and trailer bodies. These products are marketed under several well-recognized brands such as Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface.
The company’s offerings are distributed across North America, Canada, and Mexico through independent distributors. In recent years, Miller Industries has achieved remarkable financial success, evidenced by a significant increase in net sales and profitability. For instance, the company reported net sales of $1.15 billion for the fiscal year 2023, an impressive 35.9% increase from the previous year. This growth is largely attributed to strong order trends and effective execution against a near $1 billion backlog.
Throughout 2023, Miller Industries focused on initiatives to enhance productivity and stabilize raw material costs, resulting in improved gross profit margins. The company's strategic investments in capacity, productivity, and workforce development have paid off by meeting high market demand and improving supply chain efficiency. Additionally, the company raised its quarterly cash dividend by 5.6% and announced a $25 million share repurchase program, reflecting its robust financial health and commitment to shareholder value.
Looking ahead, Miller Industries remains optimistic about sustained growth in 2024, with high single-digit revenue growth projected. The company is well-positioned to capitalize on its strong market presence, driven by a solid backlog and steady demand environment.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas. CEO William Miller II and CFO Deborah Whitmire will present on November 20, 2024, at 10:45 AM CT at The Statler. The presentation will be accessible via webcast through both the conference website and Miller Industries' investor relations page.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has announced its participation in the Raymond James Sonoma Small Cap Summit on November 18th in Sonoma, CA. CEO William Miller II and CFO Deborah Whitmire will be conducting one-on-one meetings with investors during the event.
Miller Industries (NYSE: MLR) reported Q3 2024 financial results with net sales of $314.3 million, up 14.5% year-over-year. Gross profit was $42.0 million (13.4% margin), down from $42.9 million (15.6% margin) in Q3 2023. Net income decreased 11.7% to $15.4 million, or $1.33 per diluted share. The company declared a quarterly dividend of $0.19 per share and repurchased 45,000 shares worth $2.9 million. Revenue growth was driven by normalized OEM chassis deliveries, though partially offset by Hurricane Helene impacts. Management expects low double-digit topline growth and improved profitability for full year 2024.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has rescheduled its Third Quarter 2024 earnings release to Tuesday, November 12, 2024, after market close. The company will host a conference call on Wednesday, November 13, 2024, at 10:00 AM ET to discuss the results. The call will be accessible via webinar, with an archived version available afterward.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has scheduled its Third Quarter 2024 earnings release for Wednesday, November 13, 2024, after market close. The company will host a conference call on Thursday, November 14, 2024, at 10:00 AM ET to discuss the results. The call will be accessible via webinar, with archived versions available afterward.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has announced its participation in the 23rd Annual D.A. Davidson Diversified Industrials & Services Conference on September 19, 2024, in Nashville, TN. CEO William Miller II and CFO Deborah Whitmire will be hosting one-on-one meetings with investors during the event.
Miller Industries markets its products under several well-known brands, including Century®, Vulcan®, Chevron™, Holmes®, Challenger®, Champion®, Jige™, Boniface™, Titan®, and Eagle®. This conference provides an opportunity for the company to engage directly with potential investors and discuss its market position in the towing and recovery equipment industry.
Miller Industries (NYSE: MLR) announced its 2024 second quarter results, reporting net sales of $371.5 million, a 23.7% increase compared to the second quarter of 2023. This growth is attributed to consistent customer demand, increased production volume, and elevated OEM chassis deliveries. The gross profit for Q2 2024 was $51.1 million, or 13.8% of net sales, up from $39.9 million or 13.3% in Q2 2023. Selling, general and administrative expenses were $22.8 million, 6.1% of net sales, compared to $19.5 million or 6.5% in the prior year. Net income reached $20.5 million, or $1.78 per diluted share, representing a 37.5% and 37.7% increase, respectively. The board declared a quarterly cash dividend of $0.19 per share, payable on September 16, 2024. CEO William G. Miller, II, highlighted strong operational performance, strategic initiatives, and plans for future investment in manufacturing capabilities. The company anticipates low double-digit revenue growth for 2024.
Miller Industries (NYSE: MLR), the world's largest manufacturer of towing and recovery equipment, has announced it will release its Second Quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call the following day, Thursday, August 8, 2024, at 10:00 AM ET to discuss the results. Investors and interested parties can access the live conference call through a webinar link provided by the company. The call will be archived for later access on the same platform.
Miller Industries markets its products under several well-known brands, including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface, and Eagle.
Miller Industries, Inc. (NYSE: MLR) reported strong financial results for the first quarter of 2024, with net sales increasing by 23.9% to $349.9 million. Gross profit rose to $44.2 million, driven by higher revenue levels and margin improvements across all product lines. Net income also surged to $17.0 million, or $1.47 per diluted share. The Company declared a quarterly cash dividend of $0.19 per share and authorized a $25 million share repurchase program. Miller Industries expects to maintain a healthy year-over-year growth rate for 2024.
Miller Industries, Inc. (NYSE: MLR) will announce its First Quarter 2024 results on May 8, 2024, after market close. The company will host a conference call on May 9, 2024, accessible online. Miller Industries is a leading manufacturer of towing and recovery equipment.
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