Miller Industries Maintains 2026 Outlook with $200M+ Military Production Pipeline
Miller Industries reaffirmed its financial outlook for 2026, projecting revenue between $850 million and $900 million. Earnings per share are expected to remain in line with 2025 levels, while gross margins are forecasted at mid-13%. The company has secured over $200 million in military production commitments, which will begin manufacturing late in 2027, generating most revenue by 2028 and 2029. CEO Will Miller highlighted the firm's global presence across five countries with a strong distribution network as key competitive advantages. The company plans to invest approximately $100 million into expansion projects, including a new facility in Tennessee set for completion in early 2027. This investment is expected to be funded primarily through cash flow, though some debt may increase by late 2027 due to working capital needs tied to military production. Miller Industries also reported second-quarter results of $240 million in revenue and diluted earnings per share of $0.63.
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