Miller Industries Q2 net sales down 42.4% YoY to $214M; EPS $0.73 vs $1.78; suspends EPS guidance

MILLER INDUSTRIES INC /TN/

2025-Q2 EPS reported $1.42 revenue$439,682,000

Net sales $214.0M (-42.4% YoY); net income $8.5M ($0.73 diluted EPS) vs $20.5M ($1.78) last year.
Revenue guidance revised to $750-800M; EPS guidance suspended due to potential extraordinary costs and losses in H2.
Gross margin improved to 16.2% from 13.8% driven by product mix shift to higher-margin bodies vs chassis.
Quarterly dividend of $0.20/share declared (unchanged), payable Sept 15, record Sept 8; 59th consecutive quarter.
CEO cites demand headwinds: retail sales down 20% QoQ, order intake down 30%, elevated channel inventory.

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