[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Q1 2025 Performance Overview](index=1&type=section&id=Q1%202025%20Performance%20Overview) In Q1 2025, Miller Industries reported a 35.5% year-over-year decrease in net sales to $225.7 million, primarily due to a decline in chassis shipments as supply chains normalized. Despite lower sales, gross margin improved from 12.6% to 15.0% because of a more favorable product mix (more bodies, fewer chassis). Net income saw a significant decline of 52.6% to $8.1 million, or $0.69 per diluted share, impacted by lower revenue and higher SG&A costs Financial Metrics Summary | Financial Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $225.7M | $349.9M | -35.5% | | Gross Profit | $33.9M | $44.2M | -23.3% | | Gross Margin | 15.0% | 12.6% | +2.4 p.p. | | SG&A Expenses | $23.3M | $21.5M | +8.0% | | Net Income | $8.1M | $17.0M | -52.6% | | Diluted EPS | $0.69 | $1.47 | -52.8% | - The year-over-year decrease in net sales was primarily driven by a **decline in chassis shipments**, which were previously elevated due to inconsistent delivery schedules from OEMs recovering from supply chain disruptions[2](index=2&type=chunk) - The increase in gross margin was attributed to a **product mix shift** from a higher percentage of chassis in the prior year to a higher percentage of bodies in the current period[3](index=3&type=chunk) - The **rise in SG&A expenses** was mainly due to annual market adjustments to salaries, cost of living increases, and elevated employee benefit costs[4](index=4&type=chunk) [Management Commentary & Outlook](index=1&type=section&id=Management%20Commentary%20%26%20Outlook) [Operational Strategy & Capital Allocation](index=1&type=section&id=Operational%20Strategy%20%26%20Capital%20Allocation) Management's current strategy focuses on normalizing the business by reducing field inventory and product lead times. The company is also committed to shareholder returns, having executed $2.1 million in share repurchases during the quarter, supported by improving cash conversion and declining working capital. A $20 million authorization remains for future buybacks - The company is executing its strategy to **reduce field inventory and product lead times** as the industry returns to a normalized channel flow[6](index=6&type=chunk) - In Q1 2025, the company executed approximately **$2.1 million in share repurchases**[6](index=6&type=chunk) - With improving cash conversion, declining working capital, and **$20 million remaining in the share repurchase authorization**, the company has flexibility for opportunistic buying[6](index=6&type=chunk) [Business Outlook & Risk Mitigation](index=2&type=section&id=Business%20Outlook%20%26%20Risk%20Mitigation) Despite persistent tariff-related uncertainties, the company has implemented mitigation efforts including a tariff surcharge on new orders and price increases on parts. Management is diversifying its supply chain, reducing its minimal exposure to China. The outlook is positive, with strong fundamentals in end markets, particularly the global military market, and an expectation for continued improvement through the second half of 2025 - To mitigate tariff impacts, the company has implemented a **tariff surcharge on all new orders of manufactured products and additional price increases on accessories and parts sales**[8](index=8&type=chunk) - The company continues to **diversify its supply chain**, including further reducing its already-minimal exposure in China[8](index=8&type=chunk) - Management is encouraged by **strong activity in the global military market** and anticipates **continued improvement throughout the second half of 2025**, aiming to enter 2026 in a position of strength[8](index=8&type=chunk) [Shareholder Returns](index=1&type=section&id=Shareholder%20Returns) [Dividend Declaration](index=1&type=section&id=Dividend%20Declaration) The Board of Directors declared a quarterly cash dividend of $0.20 per share, a 5.3% increase from the $0.19 paid in the prior-year quarter. This marks the 58th consecutive quarter that the company has paid a dividend - The Board of Directors declared a **quarterly cash dividend of $0.20 per share**, payable on June 9, 2025, to shareholders of record on June 2, 2025[5](index=5&type=chunk) - This payment represents the **58th consecutive quarterly dividend** paid by the company[5](index=5&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Income](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME) The income statement for the three months ended March 31, 2025, shows a net income of $8.065 million on net sales of $225.651 million, compared to a net income of $17.023 million on net sales of $349.871 million in the prior-year period Condensed Consolidated Statements of Income | | Three Months Ended March 31 | % Change | | :--- | :--- | :--- | :--- | | (In thousands, except per share data) | **2025** | **2024** | | | **NET SALES** | **$ 225,651** | **$ 349,871** | **(35.5)%** | | COST OF OPERATIONS | 191,707 | 305,628 | (37.3)% | | **GROSS PROFIT** | **33,944** | **44,243** | **(23.3)%** | | Selling, General and Administrative Expenses | 23,260 | 21,543 | 8.0% | | Interest Expense, Net | 95 | 1,245 | (92.4)% | | Other (Income) Expense, Net | (202) | (33) | 512.5% | | **INCOME BEFORE INCOME TAXES** | **10,791** | **21,488** | **(49.8)%** | | INCOME TAX PROVISION | 2,726 | 4,465 | (38.9)% | | **NET INCOME** | **$ 8,065** | **$ 17,023** | **(52.6)%** | | DILUTED INCOME PER SHARE | $ 0.69 | $ 1.47 | (52.8)% | [Condensed Consolidated Balance Sheets](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2025, the company reported total assets of $639.7 million, down from $667.0 million at year-end 2024. The decrease was driven by reductions in accounts receivable and inventories. Total liabilities decreased to $233.2 million from $266.0 million, while shareholders' equity increased to $406.5 million Condensed Consolidated Balance Sheets | (In thousands) | March 31, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | **$ 500,945** | **$ 529,766** | | Cash and temporary investments | $ 27,360 | $ 24,337 | | Inventories, net | $ 164,897 | $ 186,169 | | **TOTAL ASSETS** | **$ 639,707** | **$ 667,015** | | **Total current liabilities** | **$ 155,238** | **$ 197,873** | | Accounts payable | $ 113,512 | $ 145,853 | | **Total liabilities** | **$ 233,201** | **$ 265,985** | | **TOTAL SHAREHOLDERS' EQUITY** | **$ 406,506** | **$ 401,030** | | **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **$ 639,707** | **$ 667,015** | [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) [Risk Disclosure](index=3&type=section&id=Risk%20Disclosure) The report contains forward-looking statements that are subject to numerous risks and uncertainties. Key risks highlighted include dependence on outside suppliers for parts and raw materials, customer access to credit, macroeconomic trends, competition, government regulations and tariffs, intellectual property claims, and potential IT system disruptions - **Forward-looking statements** include those relating to strategy execution, channel flow, cash conversion, share repurchases, tariff impacts, and future performance[13](index=13&type=chunk) - **Key risks** that could cause actual results to differ materially include: dependence on outside suppliers for components and chassis, changes in raw material prices (aluminum, steel), customer access to capital, competition, government regulations, and the imposition of tariffs[13](index=13&type=chunk)

Financial Performance - Net Sales for Q1 2025 were $225.7 million, a decrease of 35.5% compared to $349.9 million in Q1 2024, primarily due to a decline in chassis shipments [2] - Gross profit for Q1 2025 was $33.9 million, representing 15.0% of net sales, compared to $44.2 million or 12.6% of net sales in Q1 2024, with the increase in gross margin attributed to a shift in product mix [3] - Selling, general and administrative (SG&A) expenses rose to $23.3 million, or 10.3% of net sales, from $21.5 million or 6.2% of net sales in the prior year, driven by salary adjustments and increased employee benefit costs [4] - Net income for Q1 2025 was $8.1 million, or $0.69 per diluted share, down 52.6% from $17.0 million or $1.47 per diluted share in Q1 2024 [5] Strategic Initiatives - The company is focused on reducing field inventory and product lead times as the industry normalizes, positioning for future growth [6] - Approximately $2.1 million was executed in share repurchases during the quarter, alongside a quarterly cash dividend of $0.20 per share, marking the fifty-eighth consecutive quarter of dividend payments [5][6] - The company has implemented a tariff surcharge on new orders and additional price increases on accessories and parts to mitigate tariff-related uncertainties [6] Market Outlook - The company anticipates continued improvement in the second half of 2025, supported by strong activity in the global military market and a return to optimal channel inventory levels [6] - Despite ongoing tariff-related uncertainties, the company remains optimistic about the fundamentals in its end markets [6]

Company Overview - Miller Industries, Inc. (NYSE: MLR) has experienced significant growth since the onset of Covid-19 and has shown strong performance over the past few years [1] - The company has increased its capacity and workforce to meet rising demand and continues to launch new products [1] Market Focus - The analysis includes a focus on foreign stocks, particularly within the Nordic market, covering a range of companies from stable blue-chip firms to emerging market leaders [1] - In addition to Nordic equities, there is an emphasis on growth stocks in the U.S. market, with in-depth research on companies that have high potential for long-term expansion [1] Investment Strategy - The goal is to uncover undervalued opportunities and explore unique business models to assist investors in making informed, strategic decisions [1]

Financial Data and Key Metrics Changes - For the full year 2024, net sales were $1.26 billion, a 9% increase from $1.15 billion in 2023, driven by strong demand for products [11] - Gross profit for 2024 was $170.8 million, or 13.6% of sales, compared to $151.9 million, or 13.2% of sales in 2023, reflecting an improvement in product mix and supply chain [11][12] - Net income for 2024 was $63.5 million, or $5.47 per diluted share, up from $58.3 million, or $5.07 per diluted share in 2023, representing increases of 8.9% and 7.9% respectively [12] - For Q4 2024, sales were $221.9 million, a decrease of 25.1% from $296.2 million in Q4 2023, primarily due to a decline in chassis shipments [13] - Q4 gross profit was $33.5 million, or 15.1% of sales, compared to $38.6 million, or 13% of sales in Q4 2023, with margin improvement driven by product mix [14][15] Business Line Data and Key Metrics Changes - The decline in chassis shipments in Q4 2024 was attributed to elevated shipments in Q4 2023 due to supply chain disruptions [13][14] - The company noted that gross margins vary due to product mix, particularly in Q4 2024 [14][20] Market Data and Key Metrics Changes - The company anticipates a return to normalized chassis deliveries in the second half of 2025, which should stabilize revenues and margins [22][37] - The rising cost of equipment ownership is impacting end-market towers, with increased insurance premiums and interest rates affecting customer purchasing decisions [25] Company Strategy and Development Direction - The company is focused on returning capital to shareholders through dividends and share repurchases, with a recent quarterly cash dividend of $0.20 per share approved [19][43] - An expansion of €8 million at a facility in France has been authorized to meet future demand [44] - The company plans to launch multiple new products across all categories to enhance offerings and support growth [38][45] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong second half of 2025 and beyond, citing stable demand for products and improvements in supply chain predictability [37][40] - The company is preparing for advanced clean truck regulations and expects to have CARB-compliant chassis available by the second half of 2025 [36][42] Other Important Information - The company had a cash balance of $24.3 million as of December 31, 2024, down from $40.6 million at the end of Q3 2024, primarily due to a reduction in accounts payable [16] - The debt balance was $65 million at year-end, with a focus on reducing debt levels as cash conversion improves in 2025 [18][19] Q&A Session Summary Question: Does the 2025 outlook include financial effects of military developments? - The current military contract production is expected to begin in late 2026, with most production in 2027 and 2028 [51] Question: How do you see the first half of 2025 compared to the second half? - The first half is expected to be similar to Q4 2024, with chassis shipments lower than normal, while the second half is anticipated to show upward momentum [53] Question: Can we expect margin levels to be the same as Q4? - Margins are expected to be relatively equal to last year [55] Question: How is the company managing working capital with anticipated sales decline? - The plan is to reduce inventories to historical levels, which ran about 20% of revenue pre-COVID [57] Question: Are you doing anything to help dealers navigate the next few quarters? - Dealers are currently healthy and working through their chassis inventory buildup, with expectations of returning to optimal levels in the next two to four months [61]

Financial Data and Key Metrics Changes - For the full year 2024, net sales were $1.26 billion, an increase of 9% from $1.15 billion in 2023, driven by strong demand for products [11] - Gross profit for 2024 was $170.8 million, or 13.6% of sales, compared to $151.9 million, or 13.2% of sales in 2023, indicating an improvement in gross margin [11] - Net income for 2024 was $63.5 million, or $5.47 per diluted share, up from $58.3 million, or $5.07 per diluted share in 2023, reflecting increases of 8.9% and 7.9% respectively [12] - For Q4 2024, sales were $221.9 million, a decrease of 25.1% from $296.2 million in Q4 2023, primarily due to a decline in chassis shipments [13] - Q4 gross profit was $33.5 million, or 15.1% of sales, compared to $38.6 million, or 13% of sales in Q4 2023, with margin improvement driven by product mix [14] - Q4 net income was $10.5 million, or $0.91 per diluted share, down from $16.7 million, or $1.45 per diluted share in Q4 2023 [15] Business Line Data and Key Metrics Changes - The company experienced a year-over-year improvement in gross margin due to an enhanced product mix and supply chain improvements [12] - The decline in chassis shipments in Q4 2024 was attributed to previously elevated shipments in Q4 2023 due to supply chain disruptions [13] Market Data and Key Metrics Changes - The company anticipates a return to normalized chassis deliveries in the second half of 2025, which should stabilize revenues and margins [22] - The rising costs of equipment ownership, including increased insurance premiums and interest rates, are pressuring end-market towers [25] Company Strategy and Development Direction - The company is focused on returning capital to shareholders through dividends and share repurchases, with a recent quarterly cash dividend of $0.20 per share approved [19] - An expansion of €8 million at a facility in France has been authorized to meet future demand [44] - The company plans to launch multiple new products across all categories to enhance offerings and support innovation [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook for 2026 and beyond, citing strong demand for products and growth opportunities in military recovery vehicles [47] - The company is preparing for the impacts of advanced clean truck regulations, which limit diesel-powered vehicle registrations in certain states [34] - Management expects to see a significant pickup in requests for quotes for military products globally, indicating potential future revenue growth [41] Other Important Information - The company had a cash balance of $24.3 million as of December 31, 2024, down from $40.6 million as of September 30, 2024, primarily due to a reduction in accounts payable [16] - The debt balance was $65 million at year-end, with a focus on reducing debt levels as cash conversion improves in 2025 [19] Q&A Session Summary Question: Does the 2025 outlook include financial effects of military developments? - Management indicated that the current military contract production dates begin in late 2026, with most production in 2027 and 2028 [51] Question: How do the first half and second half of 2025 compare? - Management expects Q1 and Q2 to be similar to Q4 2024, with chassis shipments lower than normal, followed by upward momentum in the second half of the year [53] Question: Can margin levels be expected to remain the same? - Management anticipates margins to be relatively equal to the previous year [55] Question: How is the company managing working capital? - The company plans to reduce inventories to historical levels, which were about 20% of revenue pre-COVID [57] Question: Are there any measures to help dealers navigate the next few quarters? - Management stated that dealers are currently healthy and working through their chassis inventory buildup, with expectations of returning to optimal levels in the next two to four months [61]

Financial Performance - For Q4 2024, net sales were $221.9 million, a decrease of 25.1% compared to $296.2 million in Q4 2023, primarily due to a decline in chassis shipments[2] - Gross profit for Q4 2024 was $33.5 million, or 15.1% of net sales, compared to $38.6 million, or 13.0% of net sales in Q4 2023, reflecting an increase in gross margin driven by product mix[3] - Net income for Q4 2024 was $10.5 million, or $0.91 per diluted share, down 36.9% from $16.7 million, or $1.45 per diluted share in Q4 2023[5] - For the full year 2024, net sales were $1.26 billion, an increase of 9.0% from $1.15 billion in 2023, with net income rising to $63.5 million, or $5.47 per diluted share, up 8.9% from $58.3 million, or $5.07 per diluted share in 2023[6] Expenses and Dividends - Selling, general and administrative expenses for Q4 2024 were $19.7 million, or 8.9% of net sales, up from $16.4 million, or 5.5% of net sales in the prior year, due to increased executive compensation and new product launches[4] - The company declared a quarterly cash dividend of $0.20 per share, marking the fifty-seventh consecutive quarter of dividend payments[7] Future Projections - In 2025, the company expects to generate revenue between $950 million and $1.0 billion, with diluted earnings per share projected between $2.90 and $3.20[10] - The CEO expressed confidence in the company's prospects for 2025, citing the normalization of chassis market dynamics and upcoming new product launches[9] Shareholder Actions - The company repurchased 49,500 shares of common stock during 2024, representing $2.9 million of a $25.0 million repurchase program[7] Asset and Liability Management - Total assets increased to $667,015 million in 2024 from $647,210 million in 2023, representing a growth of approximately 3.8%[21] - Current assets rose to $529,766 million in 2024, up from $510,471 million in 2023, an increase of about 3.0%[21] - Accounts receivable increased to $313,413 million in 2024, compared to $286,138 million in 2023, reflecting a growth of approximately 9.5%[21] - Total liabilities decreased to $265,985 million in 2024 from $299,290 million in 2023, a reduction of about 11.1%[21] - Total shareholders' equity increased to $401,030 million in 2024, up from $347,920 million in 2023, indicating a growth of approximately 15.2%[21] - Accounts payable decreased significantly to $145,853 million in 2024 from $191,782 million in 2023, a decline of about 24.0%[21] - Accumulated surplus rose to $254,938 million in 2024, compared to $200,165 million in 2023, an increase of approximately 27.3%[21] - Long-term obligations increased to $65,000 million in 2024 from $60,000 million in 2023, reflecting an increase of about 8.3%[21] - The company reported a decrease in the non-current portion of operating lease obligations from $506 million in 2023 to $227 million in 2024, a decline of approximately 55.2%[21] - The cash and temporary investments decreased to $24,337 million in 2024 from $29,909 million in 2023, a decline of about 18.6%[21]

Acquisition and Expansion - Miller Industries acquired substantially all assets of Southern Hydraulic Cylinder, Inc. in fiscal 2023, enhancing its product portfolio and supply chain stability[33]. - The company has invested over $100 million in property, plant, and equipment projects since 2017, increasing manufacturing production capacity and implementing advanced technologies[40]. - The company expects to launch multiple new products throughout fiscal year 2025, continuing its focus on innovation[38]. - The company has a diverse product line marketed under 10 separate brand names, catering to various customer segments[20]. Manufacturing and Operations - The company operates ten manufacturing facilities in the U.S., France, and the U.K., utilizing advanced technologies for efficient assembly-line manufacturing[35]. - The backlog of manufactured equipment returned to historical levels during fiscal 2024, but demand slowed in the second half due to delivery timing issues[51]. - Management expects a harmonized flow of manufactured equipment and chassis deliveries throughout fiscal 2025, despite potential global supply chain disruptions[51]. Distribution and Sales - In 2024, no distributor accounted for more than 10% of consolidated total sales, indicating a diverse distribution network[42]. - Approximately 76 distributor locations in North America and over 30 distributors in foreign markets support the company's sales efforts[41]. - Management believes that over 90% of independent distributors do not offer products from other manufacturers, reflecting strong brand loyalty[12]. Financial Performance - Net sales for the year ended December 31, 2024, reached $1,257,500, an increase of 9.0% compared to $1,153,354 in 2023[272]. - Gross profit for 2024 was $170,805, representing a gross margin of approximately 13.6%, up from $151,854 in 2023[272]. - Net income for 2024 was $63,494, reflecting a 8.8% increase from $58,291 in 2023[272]. - Basic earnings per share increased to $5.55 in 2024, compared to $5.10 in 2023, marking a 8.8% growth[272]. - Total assets as of December 31, 2024, were $667,015, up from $647,210 in 2023, indicating a growth of 3.9%[269]. - Total liabilities decreased to $265,985 in 2024 from $299,290 in 2023, a reduction of 11.1%[269]. - Shareholders' equity increased to $401,030 in 2024, compared to $347,920 in 2023, representing a growth of 15.2%[269]. - Cash and temporary investments decreased to $24,337 in 2024 from $29,909 in 2023, a decline of 18.5%[269]. - The company declared cash dividends of $0.76 per share in 2024, up from $0.72 in 2023[272]. Employee and Labor Management - As of December 31, 2024, the company employed approximately 1,711 employees globally, with 98.8% being full-time[56]. - Employee turnover rates have trended down throughout fiscal 2023 and 2024 due to various retention efforts[60]. - The company has invested in training programs, including a Welding School and a Front-Line Leadership Academy, to address skill shortages and develop future leaders[58]. - The company has experienced substantial increases in employee wages since 2022 to retain and recruit skilled labor, which may continue to affect profitability[109]. - The company continues to monitor labor costs and implement strategies to mitigate risks associated with employee turnover and recruitment challenges[109]. Regulatory and Compliance Issues - The company is subject to stringent environmental regulations, including California's Advanced Clean Trucks regulation, which may negatively impact customer demand[73]. - Compliance with new environmental regulations has already negatively impacted customer demand during 2024 and early 2025[73]. - The company is subject to various legal and regulatory risks, including anti-corruption laws, which could adversely affect its business operations[122]. - Compliance with environmental regulations, including those aimed at reducing emissions, is becoming increasingly stringent and may negatively impact customer demand[119]. Market and Economic Conditions - The towing and recovery equipment industry is highly competitive, with the company focusing on quality and innovation rather than solely on price[47]. - The towing and recovery industry is cyclical, with demand and revenues affected by consumer confidence and economic conditions, including volatility in capital and credit markets[111]. - Customer demand may be negatively impacted by rising fuel and insurance costs, as well as unpredictable weather conditions and global supply chain disruptions[114]. - The company faces risks related to government contracts, including potential decreases in government spending and intense competition for contract awards[113]. - The company is subject to risks from international political and economic uncertainties, including tariffs and trade restrictions, which could adversely affect supply chains and costs[104]. - The ongoing military conflicts in Ukraine and the Middle East have created legal, political, and economic uncertainties that may impact the company's operations[105]. Supply Chain and Inventory Management - The company experienced significant supply chain challenges in 2024, leading to substantial price increases for raw materials and component parts, which adversely impacted profitability and results of operations[95]. - In the first half of 2024, there was a buildup of inventory in the distribution channel due to elevated levels of chassis shipments earlier than expected, affecting sales[95]. - The company faced difficulties in accurately forecasting and managing inventory, resulting in unexpected production disruptions and increased costs[94]. Financial Risks and Investments - The company is exposed to interest rate risks and foreign currency exchange rate risks, which could affect cash flow and earnings fluctuations[245]. - The availability of capital and access to credit for customers has been affected by rising interest rates, which could materially impact sales[100]. - The U.S. Federal Reserve maintained elevated interest rates throughout 2023, but began to lower rates in 2024, which may influence inflation levels and customer purchasing behavior[102]. - The company has obligations to repurchase products from third-party lenders if distributors default, which could impact future revenues[138]. - The company incurred a net foreign currency exchange loss of $0.6 million for the year ended December 31, 2024, compared to a gain of $0.8 million in 2023[248]. - The company reported a foreign currency translation loss of $1.8 million for the year ended December 31, 2024, compared to a gain of $3.2 million in 2023[249]. - A hypothetical 100-basis point change in interest rates would have changed interest expense by approximately $0.4 million for the year ended December 31, 2024[246]. Strategic Initiatives - The company must continuously develop or acquire new technology and products to maintain market share, as rapid technological advancements characterize the industry[124]. - The company has incurred significant costs to implement security measures for its IT systems to protect against potential breaches[141]. - The loss of key executives could have a material adverse impact on the company's operations[144]. - The company invests significant time and expense in employee training, which increases their value to competitors, posing a risk of employee turnover and associated hiring costs[110]. - Rising costs of equipment ownership, including increased insurance premiums and fluctuating trade-in values, have negatively impacted customer demand for the company's products[101].

Group 1 - The most recent coverage on Miller Industries, Inc. (NYSE: MLR) was in January of the previous year, where a 'Hold' rating was reiterated for the towing and recovery equipment supplier [1] - At that time, shares had recently failed to break through their 2021 highs, indicating a potential resistance level in the stock price [1] - The investment strategy discussed involves buying undervalued profitable stocks with strong balance sheets and minimal debt, along with writing calls against positions for additional income [1]

Group 1 - Miller Industries, Inc. plans to release its Fourth Quarter and Full Year results for the period ending December 31, 2024, on March 5, 2025, after market close [1] - A conference call will be held on March 6, 2025, at 10:00 AM ET, which will be broadcast live over the Internet [1] - Listeners are advised to access the conference call 15 minutes early to download any necessary audio software [1] Group 2 - Miller Industries is recognized as the world's largest manufacturer of towing and recovery equipment [2] - The company markets its products under several well-known brands, including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface, and Eagle [2]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Miller Industries (MLR) currently holding a Momentum Style Score of B [2] - Style Scores complement the Zacks Rank system, which has a strong track record of outperforming the market; MLR has a Zacks Rank of 2 (Buy) [3] Group 2: Performance Metrics of Miller Industries - MLR shares have increased by 2.35% over the past week, outperforming the Zacks Automotive - Original Equipment industry, which rose by 0.49% [6] - Over the past quarter, MLR shares have risen by 29.77%, and by 86.07% over the last year, compared to the S&P 500's increases of 9.71% and 33.24%, respectively [7] - MLR's average 20-day trading volume is 108,812 shares, indicating a bullish sign when combined with rising stock prices [8] Group 3: Earnings Outlook - Recent earnings estimate revisions for MLR show one upward revision and no downward revisions, increasing the consensus estimate from $5.60 to $5.68 over the past 60 days [10] - For the next fiscal year, there has been one upward estimate revision with no downward changes, indicating positive earnings outlook [10] - Given these factors, MLR is positioned as a 2 (Buy) stock with a Momentum Score of B, suggesting it is a promising near-term investment [11]