Miller Industries Q1 Revenue Plunges 20%, Net Income Down 90%+; Full-Year Guidance Maintained
MLR sits 45% above its 52-week low of $33.81.
Summary
Miller Industries reported a challenging first quarter, with revenue falling 19.8% year-over-year to $180.86 million, slightly missing analyst estimates, and net income plummeting over 90% to $555,000. This significant decline follows a trend of reduced sales and income in 2025, as noted in the recent 10-K, and was impacted by acquisition-related expenses from the Omars deal. Despite the weak Q1 performance, the company reaffirmed its 2026 revenue guidance of $850 million to $900 million, expecting EPS to align with 2025 results, signaling management's confidence in a stronger second half. The Q1 results were also affected by ongoing cost pressures and weakening retail demand due to higher diesel prices and macroeconomic uncertainty. Traders will closely watch if the company can deliver on its full-year outlook and manage the persistent cost and demand headwinds, especially given the stock's proximity to its 52-week high.
At the time of this announcement, MLR was trading at $48.87 on NYSE in the Manufacturing sector, with a market capitalization of approximately $555.7M. The 52-week trading range was $33.81 to $49.89. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.