By Connor Hart

Shares of Miller Industries fell after the company logged lower profit and revenue in the fourth quarter.

The stock declined 14%, to $47.45, in after-hours trading Wednesday. Shares, which ended the regular session roughly flat at $54.87, are down 26% in the last three months.

The company, which manufactures towing and recovery equipment, posted a profit in the fourth quarter of $10.5 million, down from $16.7 million a year earlier. Per share earnings came in at 91 cents, down from $1.45, a drop of 37%.

Revenue fell $221.9 million from $296.2 million. The company attributed the decrease largely to a decline in shipments of chassis, which are the metal frames that shipping containers are mounted for transportation.

"Looking to 2025, there are significant macro uncertainties in the market, especially in the first half of the year, including tariffs, new legislation impacting our business, and the rising costs of ownership for end users," Chief Executive William Miller II said. Miller added that he remains confident in the company's prospects moving forward.

For the year, the company said it expects per-share earnings between $2.90 and $3.20 on revenue of $950 million to $1 billion.

Miller also increased its dividend to 20 cents from 19 cents. The new payout, equal to 80 cents a year, represents an annual yield of 1.5% based on Wednesday's closing price of $54.87. It will be paid on March 24 to shareholders of record as of March 17.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 05, 2025 18:35 ET (23:35 GMT)

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