Miller Industries reports Q4 EPS 91c vs. $1.45 last year

Reports Q4 revenue $221.9M vs. $296.2M last year. The year over year decrease was predominately driven by a decline in chassis shipments, which, in the fourth quarter of 2023, were significantly elevated due to the inconsistent delivery schedule of chassis from original equipment manufacturers as they recovered from previous supply chain disruptions. “2024 was another record year at Miller Industries (MLR)”, said William Miller, II, CEO of the company. “Despite ongoing macroeconomic challenges in the second half of the year, we were able to deliver strong growth, margin improvement, and also return cash to our shareholders. Looking to 2025, there are significant macro uncertainties in the market, especially in the first half of the year, including tariffs, new legislation impacting our business, and the rising costs of ownership for end users. However, I remain confident about our prospects moving forward. In 2025 we are scheduled to launch multiple new products and anticipate a number of exciting developments in our military end-markets. We are confident that the dynamics in the chassis market have finally normalized, after many up and down quarters following the COVID pandemic, which should result in more stable and predictable revenues and margins quarter to quarter.”