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Miller Industries, Inc. is the world's largest manufacturer of towing and recovery equipment. The company designs, manufactures, and markets a wide range of towing and recovery equipment under several well-recognized brands. They sell products such as wreckers, car carriers, and transport trailers, which are essential for towing and recovery operations globally.
- Wreckers - Manufacture vehicles used to recover and tow disabled vehicles and other equipment, ranging from conventional tow trucks to large recovery vehicles with rotating hydraulic booms and lifting capacities of up to 100 tons.
- Car Carriers - Produce specialized flatbed vehicles with hydraulic tilt mechanisms that allow towing operators to drive or winch vehicles onto the bed for transport, effective for long-distance transport of new or disabled vehicles.
- Transport Trailers - Manufacture a line of transport trailers used in the towing and recovery industry.
- "With the slowdown in order intake attributed to timing of OEM chassis deliveries, distributor throughput capacity, and political uncertainty, what specific actions are you taking to address these issues, and how confident are you that backlog will return to historical levels in the next 1-2 quarters? "
- "Given that SG&A expenses increased in Q3 due to new compliance and regulations, pushing SG&A as a percentage of net sales above your long-term target of 6.5%, what strategies do you have to control these costs and improve operating leverage in 2025? "
- "Gross margins decreased due to product mix shifts and normalization of chassis deliveries; what factors could impact your gross margins going forward, and how do you plan to manage potential fluctuations to maintain profitability? "
- "Considering the operational disruptions caused by Hurricane Helen, what risk mitigation plans do you have in place to protect your facilities from future extreme weather events, and how might such events affect your financial performance? "
- "You mentioned balancing returning capital to shareholders with potential capacity expansion and debt reduction; how are you prioritizing these capital allocation decisions, and what factors influence your investment in growth opportunities versus shareholder returns? "