Earnings Releases·Nov 4, 2026, 4:21 PM ET

Miller Industries — Q3 2026 Earnings Summary

Q3 2026 revenue rose 18.8% to $212.2 million and net income surged 97.2% to $6.1 million, though gross margin contracted 20 basis points to 14.0% and nine-month net income fell 29.1% to $13.9 million.
The company reaffirmed full-year 2026 revenue guidance of $850 million to $900 million and raised gross margin expectations to approximately 14%, driven by a lower chassis mix.
Strategic growth initiatives include the launch of the 65-ton Century M65 rotator, a $100 million expansion at the Ooltewah, TN facility, and military commitments exceeding $200 million.
Capital return activities totaled $5.1 million in Q3, comprising a $0.21 quarterly dividend (64th consecutive quarter) and $2.7 million in stock repurchases.
Future outlook remains positive with steady production volumes expected through 2026, military program production scheduled to begin in 2027, and management citing strong underlying demand despite supply chain and tariff risks.