MILLER INDUSTRIES INC /TN/ — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Miller Industries reported Q3 2026 revenue of $212.2M (+18.8% YoY), gross profit $29.8M (+17.6%), net income $6.1M (+97.2%), and diluted EPS $0.53 (+96.3% vs $0.27). The company introduced its new 65-ton Century M65 rotator and approved $0.21/share quarterly dividend (64th consecutive quarter). Military commitments exceed $200M with production beginning in 2027–2029; the company is constructing a 200,000+ sq ft Ooltewah facility (~$100M) to be funded mostly from operating cash flow. The Omars acquisition contributed ~$0.09/share accretion. FY2026 guidance reaffirmed: revenue $850–900M, EPS in line with FY2025, gross margin ~14%. Shareholders received $5.1M in dividends and $2.7M in buybacks in Q3.
Why this rating
Strong Q3 growth (18.8% revenue, 97% net income) and $200M+ military backlog are meaningful. However, YTD net income down 29% and gross margin compression offset gains. $100M capex is ~20% of market cap—material but spread over years. Execution risk on military and expansion real.
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