Miller Industries, Inc. · NYSE:MLR
Miller Industries — Q3 2025 Earnings Presentation
26 slides from Miller Industries's earnings presentation, November 2025
Slide 1: The World Leader in Towing and Recovery Equipment: 2025 Investor Presentation
THE WORLD LEADER IN TOWING ® AND RECOVERY EQUIPMENT 2025 INVESTOR PRESENTATION
Slide 2: Scan to Watch a Short Overview Video
SCAN TO WATCH A SHORT OVERVIEW VIDEO ABOUT MILLER INDUSTRIES investor.relations@millerind.com
Slide 3: Fact Sheet
FACT SHEET The World Leader in Towing and Recovery Equipment ® CORPORATE SUMMARY Miller Industries is the world’s largest manufacturer of towing and recovery equipment and markets its towing and recovery equipment under a number of well- recognized brands, including Century, Vulcan, Chevron, Holmes,
Slide 4: Executive Bio
EXECUTIVE BIO The World Leader in Towing and Recovery Equipment ® William G. Miller, II has served as a director since May 2014, our Chief Executive Officer since March 2022 and President since March 2011, after serving as Co-Chief Executive Officer from December 2013 to March 2022 and as a Regional
Slide 5: Product Summary: Light-Duty and Car Carrier
PRODUCT SUMMARY The World Leader in Towing and Recovery Equipment ® LIGHT-DUTY Light-duty wreckers are designed for efficiency and dependability in everyday towing and recovery operations. Built for smaller vehicles like cars, light trucks, and motorcycles, these wreckers offer easy maneuverability
Slide 6: Product Summary: Rotators, Special Transport, Military
PRODUCT SUMMARY The World Leader in Towing and Recovery Equipment ® ROTATORS Rotators (capacity up to 100 tons) are cutting- edge recovery vehicles designed for maximum strength and versatility in the most complex recovery operations. With a rotating boom that offers 360-degree maneuverability, thes
Slide 7: Safe Harbor Statement
Q3 2025 INVESTOR PRESENTATION THE WORLD’S LARGEST MANUFACTURER OF TOWING AND RECOVERY EQUIPMENT MILLER INDUSTRIES FORWARD LOOKING STATEMENTS SAFE HARBOR STATEMENT Certain statements in this presentation may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Re
Slide 8: Company Profile
MILLER INDUSTRIES OVERVIEW THE WORLD’S LARGEST MANUFACTURER OF LIGHT-DUTY RECOVERY CAR CARRIER TOWING AND RECOVERY EQUIPMENT COMPANY PROFILE SPECIALTY TRANSPORT MEDIUM- & HEAVY-DUTY RECOVERY NYSE: MLR FOUNDED IN 1990 HEADQUARTERS - OOLTEWAH, TN OPERATIONS IN TN, PA, ENGLAND, AND FRANCE ~1,500 EMPLOY
Slide 9: Investment Highlights and Towing & Recovery Market
MILLER INDUSTRIES OVERVIEW INVESTMENT HIGHLIGHTS ■ World Leader in Towing & Recovery ■ Best-in-Class Products & Manufacturing Distribution ■ Consistent Organic Growth ■ Strong Customer Relationships ■ Quarterly Dividend ■ Attractive Financial Metrics ■ Industry Leader in Innovation ■ Experienced Man
Slide 10: Miller Strategy and Experienced Management Team
MILLER INDUSTRIES OVERVIEW MILLER STRATEGY ■ Develop a world-class team from the top down by investing in our employees’ education and career development to enhance the value of the Miller organization ■ Innovate, design, and produce the highest quality products with greater payload and recovery cap
Slide 11: Manufacturing Locations and Product Brands
MILLER INDUSTRIES OVERVIEW MANUFACTURING LOCATIONS Thetford, England Hermitage, PA Greeneville, TN Athens, TN Ooltewah, TN Revigny, France Global Footprint: 1,154,000 sqft MILLER INDUSTRIES OVERVIEW PRODUCT BRANDS
Slide 12: Sales Channels and International Market
MILLER INDUSTRIES REVENUE STREAMS SALES ■ North American Distribution ■ Government SALES ■ Export ■ Military ■ European Operations ■ After-Market Parts CHANNELS ■ National Accounts ■ Chassis NORTH AMERICAN COMMERCIAL DISTRIBUTION TOWING OPERATORS ■ 53 Distributor Principals ■ Average Fleet Size 10-1
Slide 13: Capital Allocation: Investment in Manufacturing
MILLER INDUSTRIES CAPITAL ALLOCATION ■ Robotics ■ Cybersecurity & IT Infrastructure INVESTMENT IN OUR BUSINESS ■ Capacity ■ Research & Development ■ Human Capital ■ Vertical Integration ■ ERP System ■ Employee Health & Safety MILLER INDUSTRIES CAPITAL ALLOCATION INVESTMENT IN MANUFACTURING Miller In
Slide 14: Investment in Our People and Growth Opportunities
MILLER INDUSTRIES CAPITAL ALLOCATION INVESTMENT IN OUR PEOPLE Employee Health & Safety Employee Engagement Employee Development Cost-of-living adjustments + Tuition reimbursement Welders supplied with air- annual bonus based on program & Family purifying respirators Company performance for all Schol
Slide 15: Third Quarter 2025 Quarterly Key Metrics
Q3 2025 OVERVIEW THE WORLD’S LARGEST MANUFACTURER OF TOWING AND RECOVERY EQUIPMENT MILLER INDUSTRIES THIRD QUARTER 2025 QUARTERLY KEY METRICS $178.7M $25.3M $3.1M REVENUE GROSS PROFIT - 14.2% NET INCOME - 1.7% Q3 YOY - Decreased 43.1% Q3 YOY - Decreased 39.7% Q3 YOY - Decreased 80.0% Q3 ’25 vs Q2 ’2
Slide 16: 4th Quarter Outlook and Distributor Inventory
MILLER INDUSTRIES MARKET OVERVIEW 2025 4TH QUARTER OUTLOOK ■ COST REDUCTION INITIATIVES ■ INDUSTRY DEMAND ■ DISTRIBUTOR INVENTORY ■ PRODUCTION LEVELS ■ TARIFFS MILLER INDUSTRIES DISTRIBUTOR BODY AND CHASSIS INVENTORY 6000 Chassis Inventory Body Inventory Optimal Body Inventory 5250 4500 3750 3000 De
Slide 17: 2026 Outlook and Capital Allocation Strategy
MILLER INDUSTRIES MARKET OVERVIEW 2026 OUTLOOK ■ STRONG BALANCE SHEET ■ COMMERCIAL MARKET RECOVERY ■ EUROPEAN GROWTH ■ MILITARY RFQ’S MILLER INDUSTRIES CAPITAL ALLOCATION CAPITAL ALLOCATION STRATEGY ■ Quarterly Dividend ■ Debt Reduction ■ Innovation ■ Automation ■ Share Repurchase ■ Human Capital ■
Slide 18: 2025 Guidance and Investor Relations Schedule
MILLER INDUSTRIES 2025 AND BEYOND 2025 GUIDANCE ■ REAFFIRM 2025 GUIDANCE ■ ESTIMATED REVENUE $750M - $800M ■ 4TH QUARTER REMINDERS (HOLIDAYS & INVENTORY) MILLER INDUSTRIES INVESTOR RELATIONS INVESTOR RELATIONS SCHEDULE 2025 ■ SOUTHWEST IDEAS CONFERENCE NOVEMBER 19-20 ■ ROADSHOWS ■ REACH OUT TO INVES
Slide 19: Thank You
THANK YOU Wuer INDUSTRIES
Slide 20: Contact and Q3 2025 Results Press Release
8503 Hilltop Drive, Ooltewah, TN 37363 Telephone (423) 238-4171 CONTACT: Miller Industries, Inc. Debbie Whitmire, Chief Financial Officer (423) 238-8464 FTI Consulting, Inc. Mike Gaudreau millerind@fticonsulting.com MILLER INDUSTRIES REPORTS 2025 THIRD QUARTER RESULTS CHATTANOOGA, Tennessee, Novembe
Slide 21: Miller Industries Reports 2025 Third Quarter Results, Page 2
MILLER INDUSTRIES REPORTS 2025 THIRD QUARTER RESULTS PAGE 2 “Third-quarter revenue was in-line with our expectations, as industry-wide demand headwinds continued to weigh on results,” said William G. Miller II, Chief Executive Officer of the Company. “We took decisive action in the third quarter to
Slide 22: Forward-Looking Statements, Page 3
MILLER INDUSTRIES REPORTS 2025 THIRD QUARTER RESULTS PAGE 3 Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “may”, “wil
Slide 23: Condensed Consolidated Statements of Income
MILLER INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended September 30 September 30 % % 2025 2024 Change 2025 2024 Change NET SALES $ 178,670 $ 314,271 (43.1)% $ 618,353 $ 1,03
Slide 24: Condensed Consolidated Balance Sheets
MILLER INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) September 30, 2025 December 31, (Unaudited) 2024 ASSETS CURRENT ASSETS: Cash and temporary investments $ 38,401 $ 24,337 Accounts receivable, net of allowance for credit losses of $2,018 and $1,850 as of Se
Slide 25: NYSE: MLR
NYSE: MLR
Slide 26: Miller Industries
Wmer INDUSTRIES