Miller Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 01:59 pm EDT
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Miller Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 300.26 million compared to USD 201.5 million a year ago. Net income was USD 14.92 million compared to USD 3.76 million a year ago. Basic earnings per share from continuing operations was USD 1.3 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 1.29 compared to USD 0.33 a year ago.
For the six months, sales was USD 582.54 million compared to USD 417.05 million a year ago. Net income was USD 24.14 million compared to USD 5.82 million a year ago. Basic earnings per share from continuing operations was USD 2.11 compared to USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 2.1 compared to USD 0.51 a year ago.
Miller Industries, Inc. is a manufacturer of towing and recovery equipment. The Company designs and manufactures bodies of car carriers and wreckers, which are installed on chassis manufactured by third parties, and sold to its customers. Its products are marketed and sold through a network of distributors that serve all 50 states, Canada, Mexico, and other foreign markets, and through prime contractors to governmental entities. In addition to selling its products, its independent distributors provide end-users with parts and service. Its product line includes car carriers, wreckers, and transport trailers. Car carriers are specialized flat-bed vehicles with hydraulic tilt mechanisms that enable a towing operator to drive or winch a vehicle onto the bed for transport. Its multi-vehicle transport trailers are specialized auto transport trailers with upper and lower decks and hydraulic ramps for loading vehicles. Its brands include Century, Vulcan, Chevron, Holmes, and Challenger.
MILLER INDUSTRIES, INC. 
