Miller Industries | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 178.67 M

Revenue: As of FY2025 Q3, the actual value is USD 178.67 M, beating the estimate of USD 177.55 M.

EPS: As of FY2025 Q3, the actual value is USD 0.27, beating the estimate of USD 0.195.

EBIT: As of FY2025 Q3, the actual value is USD 4.185 M.

Segment Revenue

• Net Sales: For the three months ended September 30, 2025, net sales were $178.7 million, a decrease of 43.1% from $314.3 million in the same period of 2024. For the nine months ended September 30, 2025, net sales were $618.4 million, a decrease of 40.3% from $1.04 billion in the same period of 2024.

Operational Metrics

• Gross Profit: For the three months ended September 30, 2025, gross profit was $25.3 million, a decrease of 39.7% from $42.0 million in the same period of 2024. For the nine months ended September 30, 2025, gross profit was $93.9 million, a decrease of 31.7% from $137.3 million in the same period of 2024.
• Net Income: For the three months ended September 30, 2025, net income was $3.1 million, a decrease of 80.0% from $15.4 million in the same period of 2024. For the nine months ended September 30, 2025, net income was $19.6 million, a decrease of 63.0% from $53.0 million in the same period of 2024.
• Operating Expenses: Selling, general, and administrative expenses for the three months ended September 30, 2025, were $21.2 million, a decrease of 4.8% from $22.3 million in the same period of 2024. For the nine months ended September 30, 2025, these expenses were $67.9 million, an increase of 1.9% from $66.6 million in the same period of 2024.

Cash Flow

• Operating Cash Flow: For the nine months ended September 30, 2025, net cash provided by operating activities was $49.9 million, an increase of 74.4% from $28.6 million in the same period of 2024.
• Investing Cash Flow: Cash used in investing activities was $7.3 million for the nine months ended September 30, 2025, compared to $14.0 million in the same period of 2024.
• Financing Cash Flow: Cash used in financing activities was $30.6 million for the nine months ended September 30, 2025, compared to $4.4 million in the same period of 2024.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue investing in robotics and automated material handling equipment across all domestic manufacturing facilities to enhance production capacity and efficiency. The company is also focused on reducing field inventory in its distribution channel and securing its supply chain to mitigate long-term impacts of tariffs.
• Non-Core Business: The company is expanding its facility in France, with construction expected to commence in the first quarter of 2026. This expansion is part of a broader strategy to enhance production capabilities and streamline operations.