Miller Industries, Inc. (MLR)

Over the past six months, Miller Industries' stock price increased by 24.57%. Key events include the acquisition of Omars S.p.A. in December 2025, the Q4 2025 earnings report on March 4, 2026, and the Q1 2026 earnings report on May 6, 2026. The acquisition of Omars S.p.A. was expected to expand Miller Industries' European footprint and add manufacturing capacity. The company reaffirmed its 2026 revenue guidance of $850 million to $900 million and announced a planned $100 million expansion of its Ooltewah, Tennessee plant. The quarterly dividend was also raised by 5% to $0.21 per share. Q1 2026 results were impacted by lower North American production and acquisition-related expenses. Management cited geopolitical tensions and higher diesel prices as factors pressuring retail demand, leading to a proactive pause in North American production increases. The company reaffirmed its full-year 2026 revenue guidance of $850 million to $900 million and expects earnings per share to be generally in line with full-year 2025 results, with production volumes expected to be weighted towards the second half of 2026.

Miller Industries' business is cyclical, driven by broader economic trends, rather than highly seasonal. The company's leadership position provides resilience within this cyclical market. External factors such as higher diesel prices and geopolitical tensions can influence retail demand, impacting production volumes and revenue distribution throughout the year. Production volumes and revenue are expected to be increasingly weighted towards the second half of 2026 due to these pressures.

Miller Industries, Inc. is a global manufacturer of towing and recovery equipment within the Consumer Durables sector and Motor Vehicles industry. They design and manufacture a range of wreckers and car carriers sold under brands like Century, Vulcan, and Holmes. The company is recognized as the world's largest manufacturer of towing and recovery equipment.

Miller Industries is headquartered in Ooltewah, Tennessee, with domestic manufacturing in Tennessee and Pennsylvania. Foreign manufacturing facilities are located in France, the United Kingdom, and Italy. Products are sold through a network of distributors, including 76 locations across the U.S., Canada, and Mexico, and over 30 distributors in other international markets.

Miller Industries has engaged in activities that positively contribute to its brand reputation. The company partnered with Hino for a 2026 Florida Tow Show Giveaway and became the Official Towing and Recovery Equipment Partner of NASCAR in February 2026. Miller Industries introduced an updated Century 9055XL Heavy-Duty 50-Ton Wrecker with enhanced strength and operator-focused improvements in February 2026 and highlights products like the 12 Series LCG™ carrier. The acquisition of Omars S.p.A. in December 2025 expanded Miller Industries' European footprint and added a well-known European brand to its portfolio.

Miller Industries' stock ownership includes institutional, retail, and individual investors. Institutional investors hold approximately 48.01% to 90.24% of the company's stock, while insiders own about 2.51% to 11.36%. Major institutional owners include Fmr LLC, Neuberger Berman Group LLC, and Blackrock Inc. William G. Miller, the company's founder and President/CEO, owns 891,310 shares, representing 7.84% of the company.