Miller Industries Stock Slides After-Hours on Q4 Revenue Miss, Retail’s Still Upbeat

Miller Industries Inc (MLR) stock fell 10.8% in extended trading on Wednesday after the company’s fourth-quarter revenue missed Wall Street’s estimates.

The towing equipment maker posted quarterly revenue of $221.9 million, a 25.1% fall from the year-ago quarter. According to FinChat data, analysts, on average, expected the company to report $290.3 million in revenue.

The company reported a net income of $10.5 million, or $0.91 per share, for the three months ended Dec. 31, compared to $16.7 million, or $1.45 per share, a year earlier.

The Tennessee-based company said the year-over-year sales decline was due to a fall in chassis shipments compared to the year-ago quarter.

Last year, shipments were elevated due to inconsistent delivery schedules from original equipment manufacturers (OEM) as they recovered from previous supply chain disruptions.

The firm’s quarterly selling, general and administrative expenses rose 20.2% to $19.68 million due to costs related to additional executive compensation, increased investment in its workforce, new product launches, and new military contracts.  

“Looking to 2025, there are significant macro uncertainties in the market, especially in the first half of the year, including tariffs, new legislation impacting our business, and the rising costs of ownership for end users,” CEO William Miller said.

The company believes that dynamics in the chassis market have finally normalized, after many volatile quarters following the pandemic, which should result in more stable and predictable revenue and margins.

Miller Industries forecasted 2025 revenue between $950 million and $1 billion, while analysts, on average, expect it to post $1.41 billion in revenue.

Retail sentiment on Stocktwits still jumped to ‘extremely bullish’ (89/100) territory from ‘bullish’(56/100) a day ago, while retail chatter rose to ‘high.’

Over the past year, Miller Industries stock has fallen 20.22%.

Also See: Allient Stock Rises After-Hours On Q4 Profit Beat, Retail’s Still Skeptical

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