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Miller Industries (MLR)

Miller Industries was founded in 1990. Since its inception, the company has provided innovative high quality towing and recovery equipment world wide.

Company profile

Ticker
MLR
Exchange
CEO
Jeffrey Badgley
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
APACO, Inc. • Boniface Engineering, Ltd. • Champion Carrier Corporation • Jige International S.A. • Miller/Greeneville, Inc. • Miller Financial Services Group, Inc. • Miller Industries International, Inc. • Miller Industries ...
IRS number
621566286

MLR stock data

Calendar

3 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 31.13M 31.13M 31.13M 31.13M 31.13M 31.13M
Cash burn (monthly) (no burn) 1.9M (no burn) (no burn) 1.96M 2.06M
Cash used (since last report) n/a 2.77M n/a n/a 2.86M 3.01M
Cash remaining n/a 28.36M n/a n/a 28.27M 28.12M
Runway (months of cash) n/a 14.9 n/a n/a 14.4 13.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 22 Jamison Linden RSU Common Stock Grant Acquire A No No 0 10,000 0 10,000
1 Mar 22 Jeffrey I Badgley RSU Common Stock Grant Acquire A No No 0 30,000 0 30,000
1 Mar 22 Vincent J. Tiano RSU Common Stock Grant Acquire A No No 0 10,000 0 10,000
1 Mar 22 Josias W. Reyneke RSU Common Stock Grant Acquire A No No 0 10,000 0 10,000
1 Mar 22 Deborah L Whitmire RSU Common Stock Grant Acquire A No No 0 30,000 0 30,000
82.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 111 111
Opened positions 12 12
Closed positions 12 10 +20.0%
Increased positions 44 37 +18.9%
Reduced positions 35 39 -10.3%
13F shares Current Prev Q Change
Total value 1.01B 1.41B -28.7%
Total shares 9.41M 9.46M -0.5%
Total puts 0 300 EXIT
Total calls 0 300 EXIT
Total put/call ratio 1.0
Largest owners Shares Value Change
Royce & Associates 1.54M $43.36M -2.6%
Dimensional Fund Advisors 894.03K $25.18M +0.2%
BLK Blackrock 780.88K $21.99M -4.5%
Thrivent Financial For Lutherans 761.24K $21.44M 0.0%
Vanguard 528.27K $14.88M -17.8%
Hotchkis & Wiley Capital Management 468.91K $13.21M +7.9%
Mutual Of America Capital Management 330.64K $9.31M -0.0%
Systematic Financial Management 317.76K $8.95M +21.0%
STT State Street 290.14K $8.17M +9.3%
Loomis Sayles & Co L P 279.27K $7.86M -3.9%
Largest transactions Shares Bought/sold Change
Vanguard 528.27K -114.61K -17.8%
Invenomic Capital Management 92.43K +68.04K +279.0%
Systematic Financial Management 317.76K +55.16K +21.0%
AMP Ameriprise Financial 18.16K -51.35K -73.9%
Lord, Abbett & Co. 196.48K -50.95K -20.6%
LSV Asset Management 191.91K -44.5K -18.8%
Royce & Associates 1.54M -41.02K -2.6%
BLK Blackrock 780.88K -36.58K -4.5%
GS Goldman Sachs 112.08K +34.18K +43.9%
Hotchkis & Wiley Capital Management 468.91K +34.16K +7.9%

Financial report summary

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Competition
Oshkosh
Risks
  • Our dependence upon outside suppliers for component parts, chassis and raw materials, including aluminum, steel, and petroleum-related products, leaves us subject to changes in price and availability (including as a result of increased demand due to improving economic conditions, the impact of the COVID-19 pandemic and supply chain difficulties) and delays in receiving supplies of such parts, chassis or materials.
  • 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 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 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.
  • The catastrophic loss of one of our manufacturing facilities could harm our business, financial condition and results of operations.
  • Environmental and health and safety liabilities and requirements could require us to incur material costs.
  • 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.
  • 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 $717,476 for the year ended December 31, 2021, compared to $651,286 for the year ended December 31, 2020, an increase of 10.2%. The increase in our revenue stream was largely attributable to not experiencing shutdown periods during 2021 that were necessary during 2020 due to the impact of the COVID-19 pandemic. Net domestic sales increased during the period from $556,540 to $627,573, and net foreign sales decreased from $94,746 to $89,903 during the same period.  Net sales during 2021 were adversely impacted by supply chain disruptions throughout the year, which increased work in process and inventories as deliveries of our products were delayed by delays in deliveries of certain critical final component parts from our suppliers, which in turn substantially increased our backlog of orders.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: aircraft, amended, amending, attached, description, director, documentation, entirety, entity, Exhibit, foreseeable, hereto, July, plurality, qualified, Restated, thousand, threat, voting
Removed: composed, remeasured, sheet