Miller Industries Q2 revenue rises on steady producton

Miller Industries

05/08/2026 21:34

Overview
U.S. towing equipment maker's Q2 revenue rose 12% yr/yr on steady production levels
Q2 net income and diluted EPS declined yr/yr, impacted by non-cash acquisition expenses
Company reduced debt by $20 mln and returned $4.9 mln to shareholders in Q2

Outlook
Miller Industries reaffirms 2026 revenue guidance of $850 mln to $900 mln
Company expects 2026 earnings per share to be generally in line with 2025 results
Miller Industries expects gross margins to return to mid-13% range for full year 2026

Result Drivers
STEADY PRODUCTION - Co said revenue growth was driven by maintaining steady production levels to match sustained order intake
PRODUCTION EFFICIENCIES - Sequential improvement in net income attributed to production efficiencies and operational improvements, per CEO William G. Miller II
ACQUISITION EXPENSES - Non-cash acquisition-related expenses from Omars acquisition negatively impacted net income and EPS

Company press release: ID:nPn10cptta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$239.99 mln
$210.82 mln (2 Analysts)
Q2 Net Income
 
$7.27 mln
 
Q2 Gross Profit
 
$35.94 mln
 
Q2 Pretax Profit
 
$10.07 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "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 is $54.00, about 6.3% above its August 4 closing price of $50.82
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads
Aug 3 - Custom Truck One Source Q2 revenue up on utility transmission, distribution markets strength; raises FY outlook
Aug 3 - Douglas Dynamics Q2 sales rise 10% on strong pre-season orders at unit
Aug 3 - Commercial Vehicle Group Q2 revenue beats estimates; 2026 outlook lifted

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)