Quarterly ResultMay 6, 2026, 04:29 PM
Miller Industries Q1 Net Income $0.56M, EPS $0.05; Revenue $180.9M
AI Summary
Miller Industries reported a significant decline in Q1 2026 financial results, with net income falling 93.1% to $0.56 million and diluted EPS decreasing 92.8% to $0.05. Revenue was down 19.8% to $180.9 million, partly due to non-cash acquisition-related expenses from the Omars acquisition. Despite the challenging quarter, the company delivered sequential revenue growth, maintained strong cash flow, and continued its Ooltewah capacity expansion. Miller Industries reaffirmed its full-year 2026 revenue guidance and announced a 3% price increase to mitigate cost pressures, while acknowledging potential impacts from geopolitical tensions on Q2.
Key Highlights
- Q1 2026 Net Income decreased 93.1% to $0.56 million.
- Diluted EPS fell 92.8% to $0.05 per share.
- Revenue decreased 19.8% to $180.9 million.
- Gross profit declined 24.3% to $25.7 million, with gross margin at 14.2%.
- Acquisition-related expenses for Omars negatively impacted Q1 EPS by approximately $0.13.
- Board approved a quarterly cash dividend of $0.21 per share.
- Repurchased approximately $2.2 million of stock during the quarter.
- Reaffirmed full-year 2026 revenue guidance of $850 million to $900 million.
- Will implement a 3% price increase on manufactured products after July 31, 2026.