Miller Industries, Inc. (MLR)

Miller Industries' stock price has declined over 40% since the beginning of 2025 due to financial performance and market conditions. In Q2 2025, net sales decreased by 42.4% to $214.0 million, and net income decreased by 58.8% to $8.5 million. The company announced a reduction of approximately 150 positions across three manufacturing facilities. In Q3 2025, net sales decreased by 43.1% to $178.7 million, and net income decreased by 80.0% to $3.1 million. Despite the market challenges, the Board of Directors declared a quarterly cash dividend of $0.20 per share. Miller Industries reaffirmed its revenue guidance of $750 million to $800 million for the 2025 fiscal year.

There is some seasonality to Miller Industries' annual results, but specific details regarding the nature or patterns of this seasonality are not explicitly provided.

Miller Industries, Inc. (MLR) specializes in manufacturing and selling vehicle towing and recovery equipment. The company is headquartered in Ooltewah, Tennessee, and operates within the Consumer Discretionary sector, specifically in the Machinery and Auto Parts industries. Miller Industries is recognized as the world's largest manufacturer of towing and recovery equipment, offering a variety of light- to heavy-duty wreckers, car carriers, rotators, and transport trailers under brands like Century, Vulcan, Chevron, and Holmes.

Miller Industries has a global presence with manufacturing facilities in the United States (Tennessee and Pennsylvania), the United Kingdom, and France. The company sells its products through independent distributors across North America, including all 50 U.S. states, Canada, and Mexico. Additionally, its products are distributed in other international markets such as Europe, South America, Africa, the Middle East, and the Pacific Rim, and through prime contractors to governmental entities.

Miller Industries maintains a strong brand reputation as the world's largest manufacturer of towing and recovery equipment. The company is known for its commitment to quality, producing robust and reliable equipment, and for its innovative designs. Its long-standing brands like Holmes, Century, and Vulcan have established a strong presence in the industry. There have been no specific events reported in the past year that have negatively affected Miller Industries' overall brand reputation.

The ownership structure of Miller Industries stock includes institutional, retail, and individual investors. Institutional investors hold a significant portion, ranging from approximately 62.60% to 94.96% of the company's stock. Major institutional shareholders include Fmr LLC, Neuberger Berman Group LLC, and Blackrock Inc. William G. Miller, the founder and Executive Chairman, is the largest individual shareholder, owning 7.80% of the company. Insiders collectively own approximately 1.86% to 10.66% of the stock.