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Miller Industries (MLR)
NYSE:MLR
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.19Last Year’s EPS
$1.45Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -12.12%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment with strong revenue growth, successful cash generation, and reductions in interest expenses, counterbalanced by decreases in gross profit margins, order entry slowdown due to external factors, and increased SG&A expenses. The challenges posed by Hurricane Helen further contributed to the cautious outlook.Company Guidance
During the Miller Industries Q3 2024 earnings call, executive William Miller provided guidance by reaffirming the company's expectation of achieving low double-digit growth for the full year 2024, aligning with their historical compounded annual growth rate. Despite the minimal impact from Hurricane Helen, which paused production at their Greeneville facility and affected quarterly revenues by low single-digit millions, the company reported a 14.5% year-over-year revenue increase to $314.3 million, driven by normalized OEM chassis deliveries. Gross profit stood at $42 million, representing a gross margin of 13.4%, which is consistent with their expected annual margins following the normalization of the chassis market. SG&A expenses increased to $22.3 million, or 7.1% of net sales, slightly above their long-term target of 6.5%, largely due to increased compliance costs. Miller Industries also emphasized their focus on debt reduction and capital returns to shareholders via dividends and share repurchases, having repurchased 45,000 shares so far in 2024. They anticipate that their backlog will return to historical levels within the next one to two quarters, supported by improved cash conversion and working capital returning to pre-pandemic levels.Revenue Growth
Miller Industries reported a 14.5% year-over-year increase in revenue for Q3 2024, reaching $314.3 million, driven by improved OEM chassis deliveries.
International Business Expansion
International sales accounted for approximately 10% of total sales with strong order intake, signaling potential growth in the military sector.
Cash Generation Success
The company generated significant cash, increasing cash and cash equivalents to $40.6 million as of September 30, 2024, from $23.8 million as of June 30, 2024.
Interest Expense Reduction
Interest expense for Q3 2024 was reduced by 86.2% to $251,000, compared to $1.8 million in Q3 2023, due to increased interest income from accounts receivable.
Shareholder Returns
The company declared a quarterly cash dividend of $0.19 per share and repurchased 45,000 shares, reflecting a continued focus on returning capital to shareholders.
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MLR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MLR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $76.43 | $68.46 | -10.43% |
| Aug 07, 2024 | $61.24 | $59.64 | -2.61% |
| May 08, 2024 | $54.71 | $57.38 | +4.88% |
| Mar 06, 2024 | $44.49 | $49.30 | +10.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Miller Industries (MLR) report earnings?
Miller Industries (MLR) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Miller Industries (MLR) earnings time?
Miller Industries (MLR) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MLR EPS forecast?
MLR EPS forecast for the fiscal quarter 2024 (Q4) is $1.19.
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