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Miller Industries (MLR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Miller Industries (MLR) Q3 2026 earnings results →
Q3 2026 Revenue up 19% year over year to $212M · 3¢ of every $1 of revenue kept as net profit · operating margin 3.5%
Miller Industries made $212M in Q3 2026 (+19% Y/Y). Operating margin 3.5%, net earnings $6.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $212.2M in Q3 2026, up 19% year over year and down 12% from the previous quarter.
Gross margin was 14.0%, down 0.1 points from Q3 2025. Operating profit was $7.5M, a 3.5% margin (up 1.1 points year over year). Of the extra revenue versus Q3 2025, 10% reached operating profit, above the 2% margin then. Operating expenses grew 6% against revenue growth of 19%. Net earnings were $6.1M, up 97% year over year. The effective tax rate was 19.2%.
Operating cash flow was $23.7M (up 19% year over year), 389% of net earnings. Non-cash charges added back $3.3M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items added $12.9M. Capital expenditures of $10.0M left free cash flow of $13.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $212M | +19% | 3.5% | $6.1M | $23.7M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $240M | +12% | 4.2% | $7.3M | $32.2M |
| Q1 2026 | 10-Q | May 6, 2026 | $181M | -20% | 0.9% | $555K | $30.7M |
| Q4 2025 | 10-K | Mar 4, 2026 | $172M | -22% | 2.9% | $3.4M | $48.9M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $179M | -43% | 2.4% | $3.1M | $19.9M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $214M | -42% | 5.3% | $8.5M | $27.2M |
| Q1 2025 | 10-Q | May 7, 2025 | $226M | -36% | 4.8% | $8.1M | $2.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
About Miller Industries
Miller Industries, Inc., a Tennessee corporation, is The World’s Largest Manufacturer of Towing and Recovery Equipment ® , with executive offices in Ooltewah, Tennessee, domestic manufacturing operations in Tennessee and Pennsylvania, and foreign manufacturing operations in France, the United Kingdom and, most recently, Italy. On December 2, 2025, Miller Industries, Inc. acquired Omars – S.p.A (“Omars”), a designer and manufacturer of towing and recovery vehicles, headquartered in Cuneo, Italy. Miller Industries was founded in 1990. Since its inception, the Company has developed innovative high-quality towing and recovery equipment worldwide. We design and manufacture bodies of car carriers and wreckers, which are installed on chassis manufactured by third parties, and sold to our customers.
In its own words, from its 10-K, filed Mar 4, 2026.
Miller Industries against its Truck & Bus Bodies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +19% against the peers' median +30%. Operating margin: 3.5% against the peers' median 3.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MLR Miller Industries | Q3 2026 | $212M | +19% | 3.5% |
| BLBD Blue Bird | Q3 FY26 | $517M | +30% | 12.1% |
| HYLN Hyliion Holdings | Q2 2026 | $4.9M | +226% | -309.4% |
Source: Miller Industries 10-Q on SEC EDGAR · CIK 924822 · Truck & Bus Bodies
Guidance and outlook
13F: who owns MLR and who is buying
More on MLR
- How Miller Industries makes money: revenue by segment
- Miller Industries next earnings date and what analysts expect
- Miller Industries stock forecast, price target and fair value
- Who owns Miller Industries stock: holders, funds and Congress trades
- Miller Industries guidance and outlook
- Miller Industries recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results