Miller Industries Q2 sales fall 42%, miss estimates

Overview

• Miller Industries Q2 sales fall 42.4%, missing analyst expectations

• Co revises 2025 revenue guidance to $750-$800 mln, suspends EPS guidance

Outlook

• Miller Industries revises 2025 revenue guidance to $750-$800 mln

• Company suspends EPS guidance due to potential extraordinary expenses

• Company prioritizes operational efficiency and capital allocation for growth

• Miller Industries anticipates recovery in commercial market and military contracts

Result Drivers

• PRODUCT MIX - Gross margin percentage increased due to shift in sales product mix from chassis to bodies

• DEMAND HEADWINDS - Decreased demand attributed to lower consumer confidence and elevated costs of ownership, including interest rates and tariffs

Key Details

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 is $67.00, about 38.2% above its August 5 closing price of $41.39

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nPn8MZs4Ca