Miller Industries, Inc. (MLR) SEC Filings & Earnings Calls

Acquisition integration costs impacting profitability; Omars acquisition $0.11/share drag in Q2.

“Negative impact of approximately $0.11 per diluted share from recognition of non-cash acquisition-related expenses.” · word for word

Gross margin contraction of 120bps due to cost pressures; labor cost control needed.

“Gross Margin: 15.0%, a 120 basis-point decrease from 16.2%.” · word for word

Macroeconomic uncertainty described as 'inconsistent' by CEO.

“Even in a inconsistent macro environment.” · word for word

Tariff impact on margins

“continued impact of Section 232 tariffs imposed on imported specialty steel and aluminum.” · word for word

Acquisition integration risk

“non-cash acquisition-related expenses associated with Omars - primarily tied to the sale of equipment adjusted to fair market value and amortization of the estimated intangible value of customer relationships - negatively impacted the Company’s financial results for the second fiscal quarter of 2026 by approximately $0.11 per diluted share.” · word for word

Geopolitical tensions in the Middle East pressuring retail demand and increasing diesel prices.

“Late in the quarter, rising geopolitical tensions in the Middle East led to higher diesel prices and increased macroeconomic uncertainty, which began to pressure retail demand.” · word for word

Non-cash acquisition-related expenses from Omars negatively impacting profitability.

“non-cash acquisition-related expenses associated with Omars... negatively impacted the Company’s financial results for the first fiscal quarter of 2026 by approximately $0.13 per diluted share” · word for word

Tariff impacts and regulatory pressures creating ongoing pricing pressure.

“Miller Industries continues to experience ongoing pricing pressure driven by tariff impacts, regulatory and” · word for word

Tariff cost pressure

“Gross profit as a percentage of sales was 14.2% for the three months ended March 31, 2026, compared to 15.0% in the corresponding period in fiscal 2025, a decrease of 5.6%, primarily as a result of continued impact of Section 232 tariffs imposed on imported specialty steel and aluminum.”

Inventory destocking risk

“The decrease in net sales was primarily due to lower production levels as we continued to mitigate inventory buildup in our distribution channel.” · word for word

Acquisition integration risk

“Non-cash acquisition-related expenses associated with Omars—primarily tied to the sale of equipment adjusted to fair market value and amortization of the estimated intangible value of customer relationships—negatively impacted the Company’s financial results for the first fiscal quarter of 2026 by approximately $0.13 per diluted share.” · word for word

Low say-on-pay support

“At the 2025 annual meeting of shareholders, approximately 33.5% of the votes cast approved the Company's advisory vote on executive compensation” · word for word

Revenue and profitability decline in 2025

“Revenue $790,271 (in thousands)... Net Income $23,014 (in thousands)... Adjusted Pretax Income $50,422 (in thousands)”

Revenue decline in Q4 2025 due to distributor inventory normalization; risk of slower-than-expected recovery.

“Revenue decreased 22.9% in Q4 2025 vs prior year.”

Supply chain disruption and tariff exposure

“Some of our suppliers have implemented pricing adjustments and passed through tariff-related cost increases in response to changes in U.S and foreign trade policies over the last year.” · word for word

Regulatory risk from CARB Advanced Clean Trucks regulation

“Compliance with these regulations negatively impacted customer demand during 2024 and through the third quarter of 2025 and is expected to continue to negatively impact customer demand in this market, which has had a material adverse effect on our results of operations, financial condition, and cash flows.” · word for word

Customer financing availability

“The ability of our customers and towing operators to purchase our products is affected by the availability of capital and credit to them.” · word for word

Integration risk: Cross-border acquisition of Italian company may face cultural, regulatory, and operational integration challenges.

“Acquisition of Omars, an Italian company; subject to pre- and post-closing adjustments.”

Financing risk: Acquisition financed via cash on hand and credit facility, potentially increasing leverage.

“acquisition was financed using cash on hand and by drawing on the Company's existing credit facility” · word for word

Inventory destocking severity

“The decrease in net sales was primarily due to a reduction of chassis deliveries and lower production levels to mitigate inventory buildup in our distribution channel.” · word for word

SG&A deleverage

“As a percentage of net sales, selling, general and administrative expenses increased to 11.9% for the three months ended September 30, 2025, from 7.1% for the comparable period in fiscal 2024.” · word for word

Industry-wide demand headwinds continue; chassis shipment normalization significantly impacted revenue.

“industry-wide demand headwinds continued to weigh on results” · word for word

Tariff risks; company taking steps to secure supply chain.

“securing our supply chain to mitigate the long-term impacts of tariffs” · word for word