$MLR reports strong financial results for Q4 & full year 2022, with increased earnings and dividend payout.
Mar 9th 2023, 11:10 am
Analyst Summary: Miller Industries, Inc. has reported financial results for Q4 and full year 2022, with an increase in net sales by 12% and 18% respectively. The company has reported increased earnings per share with a quarterly increase of 242% and a full-year increase of 25%. The company also announced a dividend of $0.18 per share payable on March 27, 2023. CEO William G. Miller, II, stated that the company's sequential profitability improvement is a result of their investment strategy and the high levels of demand for their products in the market. Miller is confident about the company's trajectory and plans to enhance shareholder engagement by offering investors useful information to understand the business's future. The company is equipped with a record backlog, and the order trends remain strong for 2023. The company discusses forward-looking statements, including expectations for improving revenues in a more normalized environment and challenges such as changes in consumer confidence and the cyclical nature of the industry. Investors can participate in the company's conference call on March 9, 2023, which will be broadcast live over the Internet.