Company Overview - Miller Industries, Inc. is the world's largest manufacturer of towing and recovery equipment, marketing its products under well-known brands such as Century®, Vulcan®, Chevron™, Holmes®, Challenger®, Champion®, Jige™, Boniface™, Titan®, and Eagle® [4]. Upcoming Event - The CEO William Miller II and CFO Deborah Whitmire will present at the Southwest IDEAS Investor Conference on November 19, 2025, at 8:35 AM CT [1]. - The presentation will be webcast and accessible through the conference host's website and the investor relations section of Miller Industries' website [1]. Conference Information - The IDEAS Investor Conferences aim to provide independent venues for quality companies to present their investment merits to investment professionals, sponsored by investors for the benefit of regional investment communities [2]. - The conference sponsors collectively manage over $200 billion in assets [2].

Group 1 - Miller Industries, Inc. plans to release its Third Quarter results for the period ending September 30, 2025, on November 5, 2025, after market close [1] - A conference call will be held on November 6, 2025, at 10:00 AM ET, which will be broadcast live over the Internet [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] Group 2 - Miller Industries will host 1x1 investor meetings at the 24th Annual D.A. Davidson Diversified Industrials & Services Conference on September 18th in Nashville, TN [3] - The company will also present and host 1x1 investor meetings at the 16th Annual Midwest Ideas Investor Conference on August 26th & 27th in Chicago, IL [4]

Summary of Miller Industries (MLR) FY Conference Call - June 12, 2025 Company Overview - **Company Name**: Miller Industries - **Founded**: 1990 - **Industry**: Towing and Recovery Equipment - **Headquarters**: Oodwa, Tennessee, USA - **Global Operations**: Facilities in Tennessee, Pennsylvania, England, and France - **Employees**: Approximately 1,700 worldwide - **Product Range**: Light duty recovery units, car carriers, specialty transport vehicles, medium and heavy duty recovery units, rotators, and military recovery vehicles [3][10][12] Core Points and Arguments - **Market Leadership**: Miller Industries is the world's largest manufacturer of towing and recovery equipment, emphasizing innovation, quality, and a robust distribution network [10][11]. - **Financial Performance**: - FY 2024 revenues increased by 9% to $1.26 billion, with a gross profit margin of 13.6% [26]. - Net income for FY 2024 was $63.5 million, or $5.47 per diluted share, with a return on equity of 16.9% [26]. - Q1 2025 revenues were $225.7 million, with a gross profit of 15% and net income of $8.1 million [28]. - **Dividend and Share Repurchase**: Returned $11.6 million to shareholders through dividends and stock repurchases in FY 2024 [26]. Industry Dynamics - **Market Size**: The towing and recovery industry is described as a multibillion-dollar global market [13]. - **Key Market Segments**: Focus on commercial towing, transport fleets, and military contracts [14]. - **Industry Drivers**: Miles driven, accidents per mile, last-mile deliveries, and natural disasters are key factors influencing demand [14][15]. Challenges and Risks - **Tariff Impacts**: Ongoing tariff situations, particularly a 50% import tariff on steel, are being monitored closely, with price increases implemented to mitigate impacts [29][31]. - **Emissions Regulations**: California's CARB regulations require a zero-emission vehicle for every nine diesel vehicles sold, affecting sales in several states [38][40]. - **Inventory Management**: The company is working through excess inventory levels due to previous over-purchasing, which is expected to normalize [30][35]. Growth Opportunities - **Military Contracts**: Increased requests for quotes from global militaries present significant growth potential [21][48]. - **European Market Expansion**: The company aims to consolidate its presence in Europe, which is fragmented with many manufacturers [22]. - **Rental Market Penetration**: There is potential to increase market share in the rental industry, which is currently dominated by a few major players [21]. Capital Allocation Strategy - **Priorities**: Focus on returning capital to shareholders, investing in manufacturing facilities, and enhancing employee engagement and safety [17][24]. - **Debt Management**: The company is debt-averse, aiming to reduce its debt load to maintain flexibility [24][30]. Competitors - **Major Competitors**: Jerdan (owned by Oshkosh Corporation) and NRC (a Canadian company) are identified as the largest competitors in North America [41][42]. Additional Insights - **Distribution Network**: Miller Industries has a strong distribution network with 53 distributors and 75 locations in North America, with 100% exclusivity for its distributors [18]. - **Product Lifecycle**: The average fleet size for customers is 10 to 15 trucks, with trade cycles of 4 to 6 years influenced by warranty offerings [19]. This summary encapsulates the key points discussed during the conference call, highlighting the company's position, financial performance, industry dynamics, challenges, growth opportunities, and strategic focus.