米勒工业公司 2025年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended:March 31, 2025 or TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90days. Yes☒ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files). Yes☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerginggrowth company” in Rule12b-2 of the Exchange Act: Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ The number of shares outstanding of the registrant’s common stock, par value $0.01 per share, as of April 30, 2025 was11,459,278. TABLE OFCONTENTS PART I.FINANCIAL INFORMATIONItem 1.Financial StatementsCondensed Consolidated Balance SheetsCondensed Consolidated Statements of IncomeCondensed Consolidated Statements of Comprehensive IncomeCondensed Consolidated Statements of Shareholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to the Condensed Consolidated Financial StatementsNote 1. Basis of Presentation and Significant Accounting PoliciesNote 2. InventoriesNote 3. Property, Plant and EquipmentNote 4. Long-Term ObligationsNote 5. Income TaxesNote 6. LeasesNote 7. Commitments and ContingenciesNote 8. Shareholders’ EquityNote 9. RevenueNote 10. Earnings Per ShareNote 11. Subsequent EventsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATIONItem1.Legal ProceedingsItem1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSIGNATURES FORWARD-LOOKING STATEMENTS Certain statements in this Quarterly Report on Form10-Q, including but not limited to statements made in PartI,Item2 – “Management’s Discussion and Analysis of Financial Condition and Results of Operations”,statementsabout anticipated effects of adopting certain accounting standards, statements made with respect to future operatingresults, and statements about trends, events, or developments that we expect or anticipate will occur in the future areforward-looking statements. Forward-looking statements can be identified by the use of words such as “may”, “will”,“should”, “could”, “continue”, “future”, “potential”, “believe”, “project”, “plan”, “intend”, “seek”, “estimate”,“predict”, “expect”, “anticipate”, and similar expressions, or the negative of such terms, or other comparableterminology. However, the absence of these words or similar expressions does not mean that a statement is not Given these uncertainties, you should not place undue reliance on these forward-looking statements. You should readthis Quarterly Report and the documents that we reference in this Quarterly Report and documents we have filed asexhibits to this Quarterly Report completely and with the understanding that our actual future results may bematerially different from what we expect. Also, forward-looking statements represent our management’s beliefs and PARTI. FINANCIAL INFORMATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS MILLER INDUSTRIES,INC. AND SUBSIDIARIESNOTESTO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1.BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The condensed consolidated financial statements of Miller Industries,Inc. include the accounts of all consolidatedsubsidiaries (the “Company”). All significant intercompany transactions and amounts have been eliminated. The References to “we”, “our”, and similar pronouns in this Quarterly Report on Form 10-Q for the quarter ended March31, 2025 (this “Form