Towing equipment firm Miller Industries Q3 revenue falls
Overview
Miller Industries Q3 revenue declines 43% yr/yr, slightly beating analyst expectations
Net income for Q3 falls 80% yr/yr
Company repurchased $1.2 mln in shares, reduced debt by $10 mln
Outlook
Company re-affirms 2025 revenue guidance of $750 to $800 mln
Company expects to enter 2026 from a position of strength
Company sees strong interest in global military market
Result Drivers
CHASSIS SHIPMENTS - Revenue decline driven by decreased chassis shipments as OEMs recovered from supply chain disruptions
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Slight Beat* | $178.67 mln | $177.55 mln (2 Analysts) |
Q3 Net Income | $3.08 mln | ||
Q3 Gross Profit | $25.33 mln | ||
Q3 Pretax Profit | $4.30 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 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 $57.00, about 31% above its November 4 closing price of $39.31
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release:
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