$MLR
MILLER INDUSTRIES INC /TN/

2024 Q3 Form 10-Q Financial Statement

#000155837024011387 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $314.3M $371.5M $300.3M
YoY Change 14.46% 23.71% 49.01%
Cost Of Revenue $272.2M $320.4M $260.3M
YoY Change 17.5% 23.06% 42.16%
Gross Profit $42.03M $51.08M $39.93M
YoY Change -1.96% 27.92% 117.31%
Gross Profit Margin 13.37% 13.75% 13.3%
Selling, General & Admin $22.33M $22.77M $19.48M
YoY Change 15.57% 16.9% 53.98%
% of Gross Profit 53.12% 44.58% 48.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.700M $3.500M $3.213M
YoY Change 11.45% 8.93% 13.53%
% of Gross Profit 8.8% 6.85% 8.05%
Operating Expenses $22.33M $22.77M $19.48M
YoY Change 15.57% 16.9% 53.98%
Operating Profit $19.70M $28.31M $20.45M
YoY Change -16.35% 38.42% 257.31%
Interest Expense $251.0K $2.048M $1.700M
YoY Change -86.16% 20.47% 170.7%
% of Operating Profit 1.27% 7.24% 8.31%
Other Income/Expense, Net $21.00K $387.0K -$44.00K
YoY Change -97.67% -979.55% -222.22%
Pretax Income $19.77M $26.24M $18.98M
YoY Change -10.26% 38.29% 293.73%
Income Tax $4.345M $5.730M $4.063M
% Of Pretax Income 21.98% 21.83% 21.41%
Net Earnings $15.43M $20.51M $14.92M
YoY Change -11.65% 37.54% 296.99%
Net Earnings / Revenue 4.91% 5.52% 4.97%
Basic Earnings Per Share $1.35 $1.79 $1.30
Diluted Earnings Per Share $1.33 $1.78 $1.29
COMMON SHARES
Basic Shares Outstanding 11.45M 11.47M 11.44M
Diluted Shares Outstanding 11.60M 11.55M 11.53M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.60M $23.82M $30.50M
YoY Change 51.49% -21.92% -2.01%
Cash & Equivalents $40.60M $23.80M $30.50M
Short-Term Investments
Other Short-Term Assets $10.49M $8.099M $6.393M
YoY Change 97.83% 26.69% -14.14%
Inventory $190.3M $187.3M $167.5M
Prepaid Expenses $10.49M $8.099M $6.393M
Receivables $374.0M $391.8M $264.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $615.5M $611.0M $468.9M
YoY Change 37.04% 30.31% 26.38%
LONG-TERM ASSETS
Property, Plant & Equipment $118.6M $115.8M $116.1M
YoY Change 2.02% -0.25% 2.21%
Goodwill $20.00M $20.00M $20.59M
YoY Change -2.89% -2.89% 77.24%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $725.0K $744.0K $681.0K
YoY Change -7.29% 9.25% 10.19%
Total Long-Term Assets $139.9M $137.2M $138.1M
YoY Change 1.15% -0.67% 8.88%
TOTAL ASSETS
Total Short-Term Assets $615.5M $611.0M $468.9M
Total Long-Term Assets $139.9M $137.2M $138.1M
Total Assets $755.3M $748.2M $607.0M
YoY Change 28.59% 23.26% 21.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $234.2M $243.1M $188.9M
YoY Change 59.56% 28.74% 37.16%
Accrued Expenses $54.80M $49.55M $34.54M
YoY Change 36.23% 43.46% 35.99%
Deferred Revenue $242.0K
YoY Change -5.84%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $290.8M $293.8M $224.6M
YoY Change 54.25% 30.8% 37.43%
LONG-TERM LIABILITIES
Long-Term Debt $65.00M $70.00M $60.00M
YoY Change 8.33% 16.67% 50.0%
Other Long-Term Liabilities $286.0K $352.0K $496.0K
YoY Change -28.5% -29.03% -31.3%
Total Long-Term Liabilities $65.00M $70.00M $60.00M
YoY Change 8.33% 16.67% 50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $290.8M $293.8M $224.6M
Total Long-Term Liabilities $65.00M $70.00M $60.00M
Total Liabilities $360.2M $368.3M $291.3M
YoY Change 41.23% 26.44% 39.11%
SHAREHOLDERS EQUITY
Retained Earnings $246.6M $233.3M $170.1M
YoY Change 32.9% 37.14% 18.46%
Common Stock $114.0K $115.0K $114.0K
YoY Change 0.0% 0.88% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $395.2M $379.9M $315.7M
YoY Change
Total Liabilities & Shareholders Equity $755.3M $748.2M $607.0M
YoY Change 28.59% 23.26% 21.92%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $15.43M $20.51M $14.92M
YoY Change -11.65% 37.54% 296.99%
Depreciation, Depletion And Amortization $3.700M $3.500M $3.213M
YoY Change 11.45% 8.93% 13.53%
Cash From Operating Activities $30.30M -$10.68M $9.674M
YoY Change 2230.46% -210.44% -264.22%
INVESTING ACTIVITIES
Capital Expenditures $6.291M $3.122M $4.861M
YoY Change 101.63% -35.77% -125.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $92.00K -$17.56M
YoY Change -100.0% -100.52%
Cash From Investing Activities -$6.291M -$3.030M -$22.42M
YoY Change 88.35% -86.49% 19.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.027M 10.76M 12.94M
YoY Change 289.66% -16.85% -53.69%
NET CHANGE
Cash From Operating Activities 30.30M -10.68M 9.674M
Cash From Investing Activities -6.291M -3.030M -22.42M
Cash From Financing Activities -8.027M 10.76M 12.94M
Net Change In Cash 15.98M -2.954M 190.0K
YoY Change -489.71% -1654.74% -94.24%
FREE CASH FLOW
Cash From Operating Activities $30.30M -$10.68M $9.674M
Capital Expenditures $6.291M $3.122M $4.861M
Free Cash Flow $24.01M -$13.81M $4.813M
YoY Change -1418.96% -386.85% -62.57%

Facts In Submission

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us-gaap Payments Of Dividends Common Stock
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Arial Narrow';font-size:10pt;line-height:1.19;margin:6pt 0pt 6pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Reclassifications</b></p><p style="font-family:'Arial Narrow';font-size:10pt;line-height:1.27;text-align:justify;margin:0pt 0pt 8pt 0pt;"><span style="color:#231f20;font-family:'Times New Roman','Times','serif';">Certain prior period amounts have been reclassified for consistency with current period presentation. These reclassifications had no effect on the reported results</span><span style="font-family:'Times New Roman','Times','serif';">. Specifically</span><span style="color:#231f20;font-family:'Times New Roman','Times','serif';">, we reclassified </span><span style="font-family:'Times New Roman','Times','serif';">$61.0</span><span style="font-family:'Times New Roman','Times','serif';"> thousand and </span><span style="font-family:'Times New Roman','Times','serif';">$223.0</span><span style="font-family:'Times New Roman','Times','serif';"> thousand for the three months ended March 31, 2024 </span><span style="color:#231f20;font-family:'Times New Roman','Times','serif';">from the provision for common stock to non-employee directors and stock-based compensation on non-vested restricted stock units to stock-based compensation, respectively, and changed the vesting of executive restricted stock units line item to issuance of common stock, net of shares withheld for employee taxes on the Condensed Consolidated Statements of Shareholders’ Equity.</span></p>
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us-gaap Depreciation
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mlr Finance Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Lease Cost
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us-gaap Lease Cost
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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0001558370-24-011387.txt Edgar Link pending
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mlr-20240630x10q.htm Edgar Link pending
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