Group 1 - Miller Industries, Inc. will host one-on-one meetings with investors at the D.A. Davidson Diversified Industrials & Services Conference on September 18, 2025 [1] - The company is recognized as the world's largest manufacturer of towing and recovery equipment, marketing its products under several well-known brands [2] - The company has announced a workforce reduction of approximately 150 positions across three locations [4]

Company Overview - Miller Industries, Inc. is recognized as the World's Largest Manufacturer of Towing and Recovery Equipment, offering products under various well-known brands such as Century®, Vulcan®, Chevron™, Holmes®, Challenger®, Champion®, Jige™, Boniface™, Titan®, and Eagle® [4]. Event Announcement - The CEO William Miller II and CFO Deborah Whitmire will present at the Midwest IDEAS Investor Conference on August 27, 2025, at 10:00 AM CT in Chicago, IL [1]. - The presentation will be available via webcast on the conference host's website and the investor relations section of Miller Industries' website [1]. IDEAS Investor Conferences - IDEAS Conferences aim to provide independent venues for quality companies to present their investment merits to investment professionals, distinguishing themselves from traditional bank-sponsored events [2]. - The sponsors of the IDEAS Conferences collectively manage over $200 billion in assets, including various investment management firms [2].

"This was an incredibly difficult decision, and we understand the impact it will have on our employees and their families," said William G. Miller II, CEO of the Company. "We are deeply grateful for the contributions of each individual who is leaving the Company. They have been instrumental in our success, and we wish them well in their future endeavors." Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995 ...

Core Viewpoint - Miller Industries reported a significant decline in net sales and net income for the second quarter of 2025, primarily due to decreased product shipments and industry-wide demand challenges [2][5][6]. Financial Performance - Net sales for Q2 2025 were $214.0 million, a decrease of 42.4% from $371.5 million in Q2 2024 [2]. - Gross profit was $34.6 million, representing 16.2% of net sales, compared to $51.1 million or 13.8% of net sales in the prior year [3]. - Selling, general and administrative expenses increased to $23.4 million, or 10.9% of net sales, from $22.8 million, or 6.1% of net sales, in the previous year [4]. - Net income fell to $8.5 million, or $0.73 per diluted share, down 58.8% and 59.0% respectively from $20.5 million, or $1.78 per diluted share, in Q2 2024 [5]. Market Challenges - The company faced a 20% decline in retail sales activity quarter over quarter, leading to a 30% decrease in order intake from distributors [6]. - Decreased demand was attributed to lower consumer confidence and increased ownership costs, including interest rates and insurance [6]. Future Outlook - The company revised its 2025 revenue guidance to a range of $750 to $800 million and suspended earnings per share guidance due to operational challenges [7]. - Despite current market difficulties, the company remains optimistic about long-term performance drivers, such as increased miles driven and accident rates, and is taking steps to improve operational efficiency and reduce channel inventory [6][7]. Dividend Information - The Board of Directors declared a quarterly cash dividend of $0.20 per share, marking the fifty-ninth consecutive quarter of dividend payments [5]. Company Overview - Miller Industries is recognized as the world's largest manufacturer of towing and recovery equipment, operating under several well-known brands [10].

Core Viewpoint - Miller Industries, Inc. is set to release its Second Quarter results for the period ending June 30, 2025, on August 6, 2025, after market close, followed by a conference call on August 7, 2025 [1] Group 1: Company Information - Miller Industries is recognized as the world's largest manufacturer of towing and recovery equipment, marketing its products under several well-known brands including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface, and Eagle [2]

Company Overview - Miller Industries, Inc. is recognized as the World's Largest Manufacturer of Towing and Recovery Equipment, offering products under various well-known brands such as Century®, Vulcan®, Chevron™, and others [4]. Upcoming Event - The CEO William Miller II and CFO Deborah Whitmire will present at the East Coast IDEAS Investor Conference on June 12, 2025, at The Westin Times Square in New York, NY, with the presentation scheduled to start at 10:00 AM ET [1]. - The presentation will be available via webcast on the conference host's website and the investor relations section of Miller Industries' website [1]. IDEAS Investor Conferences - IDEAS Investor Conferences aim to provide independent venues for quality companies to showcase their investment merits to investment professionals, distinguishing themselves from traditional bank-sponsored events [2]. - The conference sponsors manage over $200 billion in assets and include a variety of investment management firms [2].

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]