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MLR Miller Industries

Miller Industries, Inc. (Tennessee) engages in the manufacture of vehicle towing and recovery equipment. Its products include car carriers, light duty, heavy duty, rotators, and special transport.. The company was founded by William G. Miller in 1990 and is headquartered in Ooltewah, TN.

Company profile

Ticker
MLR
Exchange
CEO
Jeffrey Badgley
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
621566286

MLR stock data

(
)

Calendar

3 Mar 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jan 21 Theodore H. Ashford III Common Stock Grant Aquire A No No 0 1,315 0 11,565
1 Jan 21 Richard H Roberts Common Stock Grant Aquire A No No 0 1,315 0 36,394
1 Jan 21 Leigh Walton Common Stock Grant Aquire A No No 0 1,315 0 2,640

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

18.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 3 3
Opened positions 0 0
Closed positions 0 116 EXIT
Increased positions 0 2 EXIT
Reduced positions 0 1 EXIT
13F shares
Current Prev Q Change
Total value 80.86M 80.86M
Total shares 2.13M 2.13M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Dimensional Fund Advisors 936.83K $35.62M 0.0%
Thrivent Financial For Lutherans 740.87K $28.17M 0.0%
Hotchkis & Wiley Capital Management 449.01K $17.07M 0.0%
Largest transactions
Shares Bought/sold Change
Thrivent Financial For Lutherans 740.87K 0 0.0%
Dimensional Fund Advisors 936.83K 0 0.0%
Hotchkis & Wiley Capital Management 449.01K 0 0.0%

Financial report summary

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Competition
Oshkosh
Risks
  • Our business is subject to the cyclical nature of our industry and changes in consumer confidence and in economic conditions in general, including the negative impacts of the COVID-19 pandemic on global economies. Adverse changes or continued uncertainty with respect to these factors may lead to a downturn in our business.
  • Our dependence upon outside suppliers for our raw materials, including aluminum, steel, petroleum-related products and other purchased component parts, leaves us subject to changes in price and availability (including as a result of the imposition of additional tariffs and the impact of the COVID-19 pandemic) and delays in receiving supplies of such materials or parts.
  • Demand from our customers and towing operators is affected by the availability of capital and access to credit.
  • Operational challenges caused by our increased sales volumes in recent years prior to the COVID-19 pandemic could result in material delays, increased costs and loss of business opportunities, which could negatively impact our operating results and financial condition.
  • Our international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuation.
  • Our sales to U.S. and other governmental entities through prime contractors are subject to special risks.
  • Overall demand from our customers may be affected by increases in their fuel and insurance costs and changes in weather conditions.
  • Our competitors could impede our ability to attract or retain customers.
  • We depend upon skilled labor to manufacture our products, and if we experience problems hiring and retaining skilled labor, our business may be negatively affected.
  • The catastrophic loss of one of our manufacturing facilities could harm our business, financial condition and results of operations.
  • Failure to comply with domestic and foreign anti-corruption laws could have an adverse effect on our business.
  • Our future success depends upon our ability to develop or acquire proprietary products and technology and assertions against us relating to intellectual property rights could harm our business.
  • Changes in the tax regimes and related government policies and regulations in the countries in which we operate could adversely affect our results and our effective tax rate.
  • The effects of regulations relating to conflict minerals may adversely affect our business.
  • Environmental and health and safety liabilities and requirements could require us to incur material costs.
  • A product warranty or product liability claim in excess of our insurance coverage, or an inability to acquire or maintain insurance at commercially reasonable rates, could have a material adverse effect upon our business.
  • Our stock price may fluctuate greatly as a result of the general volatility of the stock market.
  • Our charter and bylaws contain anti-takeover provisions that may make it more difficult or expensive to acquire us in the future or may negatively affect our stock price.
  • Our credit facility could restrict our ability to operate our business and failure to comply with its terms could adversely affect our business; our obligations to repurchase products from third-party lenders to our distributors could adversely impact our future revenues and financial condition.
  • We cannot assure you that we will continue to declare dividends on our common stock.
  • A disruption in, or breach in security of, our information technology ("IT") systems or any violation of data protection laws could adversely impact our business and operations.
  • Any loss of the services of our key executives could have a material adverse impact on our operations.
Management Discussion
  • Net sales were $651,286 for the year ended December 31, 2020, compared to $818,166 for the year ended December 31, 2019, a decrease of 20.4%. The decrease in our revenue stream was largely attributable to chassis supply chain issues, shutdown periods due to soft demand, and health and safety-related adjustments to operations, all attributable to impacts of the COVID-19 pandemic. Net domestic sales decreased during the period from $697,002 to $556,540, and net foreign sales decreased from $121,164 to $94,746 during the same period. Net sales in the fourth quarter were $178,337, which reflected continued recovery from the pandemic impacted level of $128,529 in the second quarter of the year.
  • Costs of operations decreased 20.6% to $572,928 for the year ended December 31, 2020 from $721,678 for the year ended December 31, 2019. Overall, costs of operations as a percentage of net sales decreased from 88.2% for the year ended December 31, 2019 to 88.0% for the year ended December 31, 2020, primarily due to differences in product mix.
  • Selling, general and administrative expenses for the year ended December 31, 2020 decreased to $39,714 from $43,394 for the year ended December 31, 2019, primarily due to decreases in travel related expenses and other professional fees. As a percentage of net sales, selling, general and administrative expenses increased to 6.1% for 2020 from 5.3% for 2019, primarily due to fixed period costs relative to reduced sales levels.
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