Filing Flows › Miller Industries (MLR) › Q1 2025
Miller Industries (MLR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Miller Industries (MLR) reported revenue of $226M for the first quarter 2025 (Q1 2025), -36% from a year earlier and +2% from the quarter before. Operating margin was 4.8%, net earnings $8.1M (3.6% of revenue).
Miller Industries, Q1 2025: revenue $226M (-36% year over year), operating margin 4.8%, net earnings $8.1M, operating cash flow $2.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $226M | +2% | -36% |
| Gross profit | $33.9M | +1% | -23% |
| Operating profit | $10.8M | -15% | -50% |
| Net earnings | $8.1M | -23% | -53% |
| Operating cash flow | $2.7M | — | -70% |
What changed
Revenue was $225.7M in Q1 2025, down 36% year over year and up 2% from the previous quarter.
Gross margin was 15.0%, up 2.4 points from a year earlier. Operating profit was $10.8M, a 4.8% margin (down 1.4 points year over year). Operating expenses grew 2% against a revenue fall of 36%. Net earnings were $8.1M, down 53% year over year. The effective tax rate was 25.3%.
Operating cash flow was $2.7M (down 70% year over year), 34% of net earnings. Non-cash charges added back $3.7M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $10.9M. Capital expenditures of $5.1M exceeded it, leaving free cash flow of −$2.4M.
Questions
What was Miller Industries' revenue in the first quarter 2025?
Miller Industries (MLR) reported revenue of $226M for the first quarter 2025 (Q1 2025), -36% from a year earlier and +2% from the quarter before.
Was Miller Industries profitable in the first quarter 2025?
Operating profit was $10.8M (4.8% of revenue) and net earnings $8.1M.
Source: Miller Industries 10-Q on SEC EDGAR.