Overview

* Miller Industries ( MLR ) Q3 revenue declines 43% yr/yr, slightly beating analyst expectations

* Net income for Q3 falls 80% yr/yr

* Company repurchased $1.2 mln in shares, reduced debt by $10 mln

Outlook

* Company re-affirms 2025 revenue guidance of $750 to $800 mln

* Company expects to enter 2026 from a position of strength

* Company sees strong interest in global military market

Result Drivers

* CHASSIS SHIPMENTS - Revenue decline driven by decreased chassis shipments as OEMs recovered from supply chain disruptions

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Slight $178.67 $177.55

Beat* mln mln (2

Analysts

)

Q3 Net $3.08

Income mln

Q3 Gross $25.33

Profit mln

Q3 $4.30

Pretax mln

Profit

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"

* Wall Street's median 12-month price target for Miller Industries Inc ( MLR ) is $57.00, about 31% above its November 4 closing price of $39.31

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)