MLR Stock Recent News

CHATTANOOGA, Tenn. , May 1, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the First Quarter ended March 31, 2024, on Wednesday, May 8, 2024, after market close.

The first quarter of 2024 is in the books, and it was a good one. The benchmark S&P 500 index rose 11% to start the year, its best start since 2019 — before anyone had heard of Covid-19.

CHATTANOOGA, Tenn. , Feb. 28, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Fourth Quarter and Full Year ended December 31, 2023, on Wednesday, March 6, 2024, after market close.

CHATTANOOGA, Tenn. , Feb. 26, 2024 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company") the World's Largest Manufacturer of Towing and Recovery Equipment, today announced its Annual Meeting of Shareholders (the "Annual Meeting") will be held on June 21, 2024, at the Hilton Garden Inn Hotel, 879 College Drive, Dalton, Georgia 30720.

When I initiated coverage of Miller Industries, I wrote that the market is ignoring the operating leverage story that will unfold due to the company's recent investments in manufacturing. These investments led to improved fulfillment of the company's backlog at high margins. Earnings have surpassed my expectations, but the stock has not moved. This lack of interest from the market is leaving investors with an opportunity to buy shares at a great price.

CHATTANOOGA, Tenn. , Nov. 14, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company"), the World's Largest Manufacturer of Towing and Recovery Equipment, today announced that Chief Executive Officer, William Miller II, and Chief Financial Officer, Deborah Whitmire, will host one-on-one meetings with investors at the Southwest IDEAS Investor Conference on November 15, 2023, in Dallas.

CHATTANOOGA, Tenn. , Nov. 1, 2023 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) intends to release its results for the Third Quarter ended September 30, 2023, on Wednesday, November 8, 2023, after market close.

Miller Industries has experienced significant earnings growth over the past four quarters, with a 50% increase in top-line sales and an $11.2 million improvement in net profit. The company's debt position has increased, and its inventory levels are at the highest they have been in quite some time, which could pose risks in a volatile market. Miller's cash-flow generation has been impacted by working capital commitments, and its price-to-free cash flow ratio indicates that it is not cheap from a valuation perspective.

Miller Industries, Inc. (NYSE:MLR ) Q2 2023 Results Conference Call August 10, 2023 10:00 AM ET Company Participants Mike Gaudreau - FTI Consulting Will Miller - President and CEO Debbie Whitmire - EVP and CFO Conference Call Participants Mike Shlisky - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to Miller Industries Second Quarter 2023 Results Conference Call.

I believe the market is ignoring Miller Industries' upcoming operating leverage story as they are just coming out of a big investment cycle. Miller Industries spent $82 million over the course of the past 5 years on modernizing and expanding their capacity. This will lead to sustainably high margins if demand holds up. Capex should also decline to around $20 million per year going forward, a significant decline when compared to the $40 million spent in 2022.