Miller Industries Q1 revenue rises 27% to $215.5M; EPS drops 35% to $0.18

MILLER INDUSTRIES INC /TN/

2022-Q1 EPS reported $0.18 revenue$215,545,000

Net sales $215.5M, up 26.9% YoY; net income $2.1M ($0.18 EPS) vs $3.2M ($0.28 EPS) down 35%.
Gross margin fell to 7.1% from 9.3% due to supply chain and inflation.
Board declared $0.18/share dividend, payable June 13, 2022, 46th consecutive quarter.
CEO: price increases and surcharges enacted to offset inflation; backlog substantial, demand strong.
International demand unaffected by Russia-Ukraine conflict so far.

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