Miller Industries Q2 revenue rises on steady production

Miller Industries reaffirmed its 2026 revenue guidance of $850 million to $900 million. The company expects 2026 earnings per share to be generally in line with 2025 results and said it expects gross margins to return to the mid-13% range for full-year 2026.

Miller Industries said second-quarter revenue rose 12% year over year on steady production levels. Net income and diluted EPS declined year over year, however, as non-cash acquisition-related expenses tied to the Omars acquisition weighed on results.

The company also said it reduced debt by $20 million and returned $4.9 million to shareholders in the quarter.

• Steady production - The company said revenue growth was driven by maintaining steady production levels to match sustained order intake.
• Production efficiencies - Sequential improvement in net income was attributed to production efficiencies and operational improvements, according to CEO William G. Miller II.
• Acquisition expenses - Non-cash acquisition-related expenses from the Omars acquisition negatively affected net income and EPS.