Miller Industries slightly miss Q1 revenue estimates, maintains 2026 revenue forecast

Miller Industries

06/05/2026 21:33

Overview

U.S. towing equipment maker's Q1 revenue fell 19.8% yr/yr, net income dropped over 90%

Acquisition-related expenses from Omars negatively impacted Q1 results by about $0.13 per share

Company returned $4.6 mln to shareholders through dividends and share repurchases

Outlook

Miller Industries reaffirms 2026 revenue guidance of $850 mln to $900 mln

Company expects 2026 EPS to be generally in line with 2025 results

Co expects production volumes to be weighted toward the second half of 2026 due to geopolitical tensions in the Middle East and resulting higher diesel prices

Result Drivers

ACQUISITION-RELATED EXPENSES - Non-cash costs tied to the Omars acquisition weighed on Q1 results by about $0.13 per share

COST PRESSURES - Ongoing tariff, regulatory, and U.S. manufacturing costs outpaced surcharges, leading to further price increases

WEAKENING RETAIL DEMAND - Higher diesel prices and macroeconomic uncertainty, especially from Middle East tensions, began to pressure retail demand late in the quarter

Company press release: ID:nPnbjJTt9a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Miss*
$180.86 mln
$181.10 mln (2 Analysts)
Q1 Net Income
$555,000
Q1 Gross Profit
$25.68 mln
Q1 Pretax Profit
$1.60 mln


*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 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 $48.50, about 2.4% below its May 5 closing price of $49.70

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 16 three months ago

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.)