Wed, May 7, 8:50 PM (4 days ago)
**Miller Industries, Inc. (MLR) Q1 FY 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2025 revenue was $225.7 million, a 35.5% decrease from Q1 2024's $349.9 million due to reduced chassis deliveries to manage inventory levels. - **Profit Margins:** Gross profit margin improved to 15.0% in Q1 2025 from 12.6% in Q1 2024, driven by a favorable product mix. - **Net Income:** Net income decreased by 52.6% to $8.1 million in Q1 2025 from $17.0 million in Q1 2024. - **Cash Flow:** Operating cash flow was $2.7 million in Q1 2025, down from $9.0 million in Q1 2024. Investing activities used $5.1 million, and financing activities provided $5.6 million. - **Earnings Changes:** Earnings per share (EPS) decreased to $0.69 (diluted) in Q1 2025 from $1.47 in Q1 2024. **Trends and Uncertainties:** - **Supply Chain:** Inventory levels are stabilizing, and chassis deliveries are expected to synchronize in the second half of 2025. - **Economic Factors:** Uncertainties include U.S. tariffs, trade policies, geopolitical factors, and rising equipment ownership costs. - **Regulations:** New emission standards in certain states may impact sales. **Future Operations Impact:** - **Investments:** Continued investment in automation, robotics, and ERP system enhancements. - **Expansion:** Approved $9.1 million for a facility expansion in France. - **Dividends:** Declared a quarterly cash dividend of $0.20 per share payable in June 2025. **Conclusion:** Miller Industries faces challenges from reduced sales and economic uncertainties but is focusing on operational efficiency and strategic investments to navigate these issues. The company's improved gross margin and ongoing investments in technology and expansion indicate a strategic approach to future growth.