Miller Industries Q3 net sales down 43% to $178.7M; EPS $0.27 vs $1.33

MILLER INDUSTRIES INC /TN/

2025-Q3 EPS reported $1.68 revenue$618,353,000

Net sales $178.7M (-43.1% YoY); net income $3.1M ($0.27 diluted EPS), down 80% from $15.4M ($1.33) in Q3 2024.
Gross margin improved to 14.2% from 13.4%, driven by product mix shift away from chassis.
Cost reduction steps include workforce reduction and enhanced retirement program ($0.9M expense in Q3, $2.7M total expected).
Reaffirmed FY 2025 revenue guidance of $750-800M; reduced debt by $10M in Q3 and $10M in Oct; $1.2M in share repurchases.
Board declared $0.20 quarterly dividend (sixtieth consecutive quarter), payable Dec 9 to holders of record Dec 2.

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