#USA #Chattanooga #Miller Industries #Q3 2026 #Century M65

Miller Industries Reports Q3 2026 Results

Miller Industries, Inc. (NYSE: MLR) has made headlines with its financial results for the third quarter ending September 30, 2026. The company showed a robust year-over-year revenue increase of 18.8%, generating $212.2 million, compared to $178.7 million during the same period last year. This growth can be attributed to steady production levels and strong customer demand in the heavy-duty recovery market.

Financial Overview

In terms of profitability, the gross profit for Q3 reached $29.8 million, up from $25.3 million in Q3 2025, marking a 17.6% rise. However, gross margins slightly decreased to 14.0%, down from 14.2%. Selling, general, and administrative expenses also accounted for $22.0 million, revealing a modest increase of 3.5% from $21.2 million in the previous year. The company's net income surged by an impressive 97.2%, climbing to $6.1 million compared to $3.1 million from the same quarter in 2025, resulting in a diluted earnings per share (EPS) of $0.53, up 96.3% from $0.27.

Business Highlights

During the third quarter, Miller Industries achieved several noteworthy milestones:
1. Solid Revenue Growth: The company's consistent production aligned well with continuous order intake in a challenging and dynamic market environment.
2. Shareholder Returns: Miller Industries generated strong cash flow and returned $5.1 million to its shareholders through dividends and stock repurchases.
3. New Product Launch: The recent launch of the 65-ton rotator, known as the Century M65, attracted significant attention, with over 1,000 distributors and customers attending the unveiling event in Chattanooga.

As part of its growth strategy, Miller Industries is also progressing on its heavy-duty capacity expansion at its Ooltewah facility. Initial construction work is underway, expected to enhance production capabilities in response to rising global demand, particularly in the military sector.

Strategic Expansion Plans

To bolster its market position, Miller Industries has announced plans for a major expansion at its Ooltewah headquarters. The new facility, with a footprint of over 200,000 square feet and a budget of approximately $100 million, aims to:

• - Increase Production Capacity: The new plant will amplify output, ensuring the company can fulfill both domestic and international demand.
• - Support European Market Needs: Enhanced production capabilities will facilitate better service for European markets, improving lead times and production stability.
• - Prepare for Higher Military Production Volumes: Anticipated military commitments exceeding $200 million necessitate the upgraded production facility, slated for initial operations in 2027.

Shareholder Returns and Future Guidance

Miller Industries’ Board of Directors has declared a quarterly cash dividend of $0.21 per share, payable on December 14, 2026, marking the sixty-fourth consecutive quarter with dividends. Additionally, approximately $2.7 million of stock was repurchased in Q3 under its stock buyback program.

Looking ahead, the company reaffirms its revenue guidance for the full year 2026, estimating between $850 million and $900 million. Production volumes are expected to remain steady, with gross margins anticipated to average around 14% for the year.

In summary, Miller Industries has demonstrated robust growth and strategic initiatives to maintain its leadership position in the recovery equipment sector. The company is well-positioned for success as it navigates through 2026 and beyond, backed by strong demand and innovative product offerings.

Upcoming Conference Call

The company will host a conference call on November 5, 2026, at 10 AM ET, allowing investors to hear directly from the management about the insights and future directives for Miller Industries.