Miller Industries reported a challenging third quarter in 2025 with a significant drop in net sales, primarily due to decreased chassis shipments, yet implemented strategic measures to enhance operational efficiency and cash flow.

• Net sales fell 43.1% year-over-year to $178.7 million, driven by reduced chassis shipments.
• Gross profit margin improved to 14.2%, aided by a favorable product mix.
• Cash balance increased by $6.6 million sequentially to $38.4 million, reflecting effective cash management and inventory adjustments.
• Debt reduced by $10 million to $45 million during the quarter, with a further reduction to $35 million post-Q3.
• Strategic production adjustments aimed at normalizing inventory levels are anticipated to position the company favorably for recovery in 2026.