Miller Industries Q4 EPS $0.81 beats prior $0.24; guides FY2023 revenue above $1B

MILLER INDUSTRIES INC /TN/

Q4 net sales $225.9M (+12% YoY); net income $9.3M ($0.81 diluted EPS) vs $2.7M ($0.24).
Full-year net sales $848.5M (+18.3%); net income $20.3M ($1.78 EPS) vs $16.3M ($1.42).
Gross margin improved to 11.3% in Q4 from 7.7% in prior year period.
CEO guides FY2023 revenue >$1B and improved margins, citing record backlog and strong demand.
Quarterly dividend maintained at $0.18/share; payable March 27 to holders of record March 20.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MILLER INDUSTRIES INC /TN/ reported full year ended December 31, 2022 results: revenue $848.5 million, net income $20.3 million, EPS $1.78 per diluted share.

Period: full year ended December 31, 2022
Revenue: $848.5 million
Net income: $20.3 million
EPS: $1.78 per diluted share
Result: reported results

Exact text from the filing

For the twelve months ended December 31, 2022, net sales were $848.5 million, an increase of 18.3% compared to $717.5 million in the prior year period. The Company reported net income of $20.3 million, or $1.78 per diluted share for the full year 2022, compared to net income of $16.3 million, or $1.42 per diluted share for the full year 2021, for increases of 25.2% and 25.4%, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MILLER INDUSTRIES INC /TN/ reported quarter ended December 31, 2022 results: revenue $225.9 million, net income $9.3 million, EPS $0.81 per diluted share.

Period: quarter ended December 31, 2022
Revenue: $225.9 million
Net income: $9.3 million
EPS: $0.81 per diluted share
Result: reported results

Exact text from the filing

Inc. (NYSE: MLR) (the "Company") today announced financial results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter of 2022, net sales were $225.9 million, an increase of 12.0%, compared to $201.7 million for the fourth quarter of 2021. Net income in the fourth quarter of 2022 was $9.3 million, or $0.81 per diluted share, compared

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Source: SEC EDGAR

accession 0001558370-23-003194

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