Financial Data and Key Metrics Changes - In Q3 2024, the company generated revenues of $314.3 million, a 14.5% year-over-year increase driven by elevated OEM chassis deliveries [9][14] - Gross profit for Q3 2024 was $42 million, a decrease of 2% compared to the prior year, with a gross margin of 13.4%, down 220 basis points year-over-year [10][16] - Net income for Q3 2024 was $15.4 million or $1.33 per diluted share, compared to $17.5 million or $1.52 per diluted share in Q3 2023 [20] Business Line Data and Key Metrics Changes - The international business, accounting for approximately 10% of total sales, showed continued demand and strong order intake, with potential growth in the military sector [12] - Cost of operations increased 17.5% to $272.2 million in Q3 2024, largely due to increased revenue levels [15] Market Data and Key Metrics Changes - The company experienced a slow order entry during the quarter, attributed to political uncertainty, but anticipates that backlog will return to historical levels in the next 1 to 2 quarters [27][28] Company Strategy and Development Direction - The company is focused on production capacity expansion and regularly analyzes future production needs to invest capital where it can generate the greatest shareholder returns [13] - The company remains committed to debt reduction and returning capital to shareholders through dividends and share repurchase programs [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving low double-digit growth for the full year 2024, in line with historical compounded annual growth rates [29] - The company noted that while challenges were faced in the quarter, core demand drivers remain solid, and distributor retail deliveries have remained steady compared to last year [27] Other Important Information - Cash and cash equivalents as of September 30, 2024, were $40.6 million, up from $23.8 million as of June 30, 2024 [20] - The company has repurchased 45,000 shares representing $2.9 million of the $25 million repurchase program authorized in April [25] Q&A Session Summary Question: Post-election order flow and dealer throughput assistance - Management noted that post-election sentiment in the industry has increased significantly, with multiple deals being completed that were previously on hold [32][33] - The company is providing appropriate inventory to help distributors finish builds and deliver to customers [34] Question: Gross margin outlook for next year - Management anticipates that gross margins will remain in the low mid-13s range moving into next year, with no expected issues continuing the margins [38] Question: SG&A expense management - Management is looking at cost control but noted that new compliance regulations are adding costs that are out of their control, making it challenging to reduce SG&A below the target of 6.5% [39]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File No. 001-14124 MILLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Tenne ...

Exhibit 99.1 8503 Hilltop Drive, Ooltewah, TN 37363 | --- | --- | --- | |-------|----------|---------------------------------------------------------------------------------------------| | | | Telephone 423.238.4171 | | | CONTACT: | Miller Industries, Inc. Debbie Whitmire, Chief Financial Officer (423) 238-8464 | | | | Frank Madonia, General Counsel (423) 238-8414 | | | | FTI Consulting, Inc. Mike Gaudreau millerind@fticonsulting.com | MILLER INDUSTRIES REPORTS 2024 THIRD QUARTER RESULTS CHATTANOOGA, Tenn., ...

CHATTANOOGA, Tenn., Nov. 12, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the third quarter ended September 30, 2024.For the third quarter of 2024, net sales were $314.3 million, an increase of 14.5%, compared to $274.6 million for the third quarter of 2023. The year over year improvement was predominantly due to increases in original equipment manufacturer ("OEM") chassis deliveries after a normalization of the chassis market, compared to th ...

CHATTANOOGA, Tenn., Nov. 11, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) has revised the date of its earnings announcement and intends to release its results for the Third Quarter ended September 30, 2024, on Tuesday, November 12, 2024, after market close. The Company will host a conference call the following day that will be simultaneously broadcast live over the Internet:Wednesday, November 13, 202410:00 AM ET9:00 AM CT8:00 AM MT7:00 AM PTListeners can access the conference call live over the ...

CHATTANOOGA, Tenn., Nov. 6, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Third Quarter ended September 30, 2024, on Wednesday, November 13, 2024, after market close. The Company will host a conference call the following day that will be simultaneously broadcast live over the Internet:Thursday, November 14, 202410:00 AM ET9:00 AM CT8:00 AM MT7:00 AM PTListeners can access the conference call live over the Internet at:https://app.webinar.net/XBb45Go5Oy7Please ...

Shares of Miller Industries Inc (MLR, Financial) surged 4.60% in mid-day trading on Oct 2. The stock reached an intraday high of $63.90, before settling at $62.62, up from its previous close of $59.86. This places MLR 10.23% below its 52-week high of $69.75 and 79.10% above its 52-week low of $34.96. Trading volume was 91,071 shares, 100.1% of the average daily volume of 90,951. Wall Street Analysts Forecast Based on the one-year price targets offered by 2 analysts, the average target price for Miller Indus ...

Shares of Miller Industries Inc MLR have risen almost 48% year to date. The company has been added to the STAMPEDE list due to the ongoing activism campaign, according to DA Davidson. Analyst Michael Shlisky initiated coverage of Miller Industries with a Buy rating and price target of $82. The Miller Industries Thesis: The activist has asked Miller Industries to consider several changes to its board and business practices as well as deliberate on an outright sale of the company, Shlisky said in the initiati ...

CHATTANOOGA, Tenn., Sept. 19, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR), the World's Largest Manufacturer of Towing and Recovery Equipment, announced today that Chief Executive Officer, William Miller II, and Chief Financial Officer, Deborah Whitmire will host one-on-one meetings with investors at the D.A. Davidson Diversified Industrials & Services Conference on Thursday September 19, 2024, in Nashville, TN. About Miller Industries Miller Industries is The World's Largest Manufacturer of Tow ...

shaungrant/iStock via Getty Images Miller Industries (NYSE:MLR) might just be the easiest company in the world to understand. The company buys truck chassis manufactured by other companies and puts its own tow truck bodies on them. The company does not hold a monopoly on the industry, but it is widely accepted to be the biggest player. The company says in its annual report that it is "The World's Largest Manufacturer of Towing and Recovery Equipment," and this is probably an accurate statement. The company' ...