Miller Industries Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line

Miller Industries (NYSE:MLR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$314.3m (up 14% from 3Q 2023).
• Net income: US$15.4m (down 12% from 3Q 2023).
• Profit margin: 4.9% (down from 6.4% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.35 (down from US$1.53 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Miller Industries Earnings Insights

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's shares are down 8.7% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Miller Industries' balance sheet and an in-depth analysis of the company's financial position.

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