Filing Flows › Miller Industries (MLR) › Q3 2025
Miller Industries (MLR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Miller Industries (MLR) reported revenue of $179M for the third quarter 2025 (Q3 2025), -43% from a year earlier and -17% from the quarter before. Operating margin was 2.4%, net earnings $3.1M (1.7% of revenue).
Miller Industries, Q3 2025: revenue $179M (-43% year over year), operating margin 2.4%, net earnings $3.1M, operating cash flow $19.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $179M | -17% | -43% |
| Gross profit | $25.3M | -27% | -40% |
| Operating profit | $4.3M | -62% | -78% |
| Net earnings | $3.1M | -64% | -80% |
| Operating cash flow | $19.9M | -27% | -34% |
| Free cash flow | $18.1M | -29% | -25% |
What changed
Revenue was $178.7M in Q3 2025, down 43% year over year and down 17% from the previous quarter.
Gross margin was 14.2%, up 0.8 points from a year earlier. Operating profit was $4.3M, a 2.4% margin (down 3.9 points year over year). Operating expenses fell 6% while revenue fell 43%. Net earnings were $3.1M, down 80% year over year. The effective tax rate was 28.4%.
Operating cash flow was $19.9M (down 34% year over year), 646% of net earnings. Non-cash charges added back $3.5M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $12.2M. Capital expenditures of $1.8M left free cash flow of $18.1M.
Questions
What was Miller Industries' revenue in the third quarter 2025?
Miller Industries (MLR) reported revenue of $179M for the third quarter 2025 (Q3 2025), -43% from a year earlier and -17% from the quarter before.
Was Miller Industries profitable in the third quarter 2025?
Operating profit was $4.3M (2.4% of revenue) and net earnings $3.1M.
Source: Miller Industries 10-Q on SEC EDGAR.