Published on 7 Mar 2024 on GuruFocus.com via Yahoo Finance

Miller Industries Inc Reports Stellar Annual Growth with Net Income Soaring by Over 186%

Net Sales: Q4 net sales jumped 31.2% to $296.2 million; full-year sales surged 35.9% to $1.15 billion.Gross Profit: Q4 gross profit rose to $38.6 million, marking a gross margin increase to 13.0%.Net Income: Q4 net income increased by 79.7% to $16.7 million; annual net income skyrocketed 186.5% to $58.3 million.Earnings Per Share (EPS): Diluted EPS for Q4 was $1.45, up 79.0%; full-year diluted EPS climbed to $5.07, a 184.8% increase.Dividend: Quarterly cash dividend raised by 5.6% to $0.19 per share.Balance Sheet: Strong liquidity with $29.9 million in cash and temporary investments; total assets increased to $647.2 million.

Warning! GuruFocus has detected 6 Warning Signs with MLR.

On March 6, 2024, Miller Industries Inc (NYSE:MLR) released its 8-K filing, revealing a robust performance for both the fourth quarter and the full year of 2023. The company, a leading manufacturer of vehicle towing and recovery equipment, has reported significant growth in sales, net income, and earnings per share, while also increasing its quarterly dividend.