Miller Industries, Inc. · NYSE:MLR
Miller Industries — Q2 2025 Earnings Presentation
13 slides from Miller Industries's earnings presentation, August 2025
Slide 1: The World's Largest Manufacturer of Towing and Recovery Equipment
THE WORLD’S LARGEST MANUFACTURER OF TOWING AND RECOVERY EQUIPMENT
Slide 2: Forward Looking Statements - Safe Harbor Statement
MILLER INDUSTRIES FORWARD LOOKING STATEMENTS SAFE HARBOR STATEMENT Certain statements in this presentation may be deemed to be forward-looking statements, as de ned in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identi ed by the use of words such as “may”,
Slide 3: Q2 2025 Earnings Presentation
Q2 2025 EARNINGS PRESENTATION Slide 3
Slide 4: Company Profile
MILLER INDUSTRIES COMPANY PROFILE THE WORLD’S LARGEST MANUFACTURER OF LIGHT-DUTY RECOVERY CAR CARRIER TOWING AND RECOVERY EQUIPMENT NYSE: MLR SPECIALTY TRANSPORT MEDIUM & HEAVY-DUTY RECOVERY FOUNDED IN 1990 HEADQUARTERS - OOLTEWAH, TN OPERATIONS IN TN, PA, ENGLAND AND FRANCE 1,700 EMPLOYEES GLOBALLY
Slide 5: Second Quarter 2025 Quarterly Key Metrics
MILLER INDUSTRIES SECOND QUARTER 2025 QUARTERLY KEY METRICS $214.0M $34.6M $8.5M REVENUE GROSS PROFIT - 16.2% NET INCOME - 4.0% Q2 YOY - Decreased 42.4% Q2 YOY - Decreased 32.3% Q2 YOY - Decreased 58.8% Q2 ’25 vs Q1 ’25 - Decreased 5.1% Q2 ’25 vs Q1 ’25 - Increased 1.9% Q2 ’25 vs Q1 ’25 - Increased
Slide 6: 2025 Second Half Outlook
MILLER INDUSTRIES MARKET OVERVIEW 2025 SECOND HALF OUTLOOK ■ INDUSTRY DEMAND HEADWINDS ■ DISTRIBUTOR INVENTORY REDUCTION ■ RETAIL ACTIVITY / ORDER INTAKE ■ PRODUCTION LEVELS ■ COST REDUCTION INITIATIVES ■ CARB / A.C.T. ■ TARIFFS Slide 6
Slide 7: Distributor Body and Chassis Inventory
MILLER INDUSTRIES DISTRIBUTOR BODY AND CHASSIS INVENTORY 6000 Chassis Inventory Body Inventory Optimal Body Inventory 5250 4500 3750 3000 Dec '23 Jan '24 Feb '24 Mar '24 Apr '24 May '24 Jun '24 Aug '24 Sep '24 Oct '24 Nov '24 Dec '24 Jan '25 Mar '25 Apr '25 May '25 Jun '25 Jul '25 Distributor Invent
Slide 8: 2025 Second Half and Beyond
MILLER INDUSTRIES MARKET OVERVIEW 2025 SECOND HALF AND BEYOND ■ FREE CASH FLOW ■ DEBT REDUCTION ■ COMMERCIAL MARKET RECOVERY ■ MILITARY RFQ’S ■ GROWTH OPPORTUNITIES ■ ENTER 2026 IN A POSITION OF STRENGTH Slide 8
Slide 9: Capital Allocation Strategy
MILLER INDUSTRIES CAPITAL ALLOCATION ■ Quarterly Dividend ■ Innovation CAPITAL ALLOCATION STRATEGY ■ Debt Reduction ■ Automation ■ Share Repurchase ■ Human Capital ■ Capacity Expansion Slide 9
Slide 10: 2025 Guidance
MILLER INDUSTRIES 2025 AND BEYOND ■ ESTIMATED REVENUE $750M - $800M 2025 GUIDANCE ■ SUSPENDED EPS GUIDANCE Slide 10
Slide 11: Core Philosophy
MILLER INDUSTRIES CORE PHILOSOPHY “ WE HAVE THE BEST PEOPLE, THE BEST PRODUCTS, AND THE BEST DISTRIBUTION NETWORK IN THE TOWING AND RECOVERY INDUSTRY.” - BILL MILLER - 1990 Slide 11
Slide 12: Q&A
MILLER INDUSTRIES Q2 2025 EARNINGS PRESENTATION Q&A Slide 12
Slide 13: Thank You
THANK YOU Winer INDUSTRIES Slide 13