Miller Industries, Inc. (NYSE:MLR) Q3 2023 Earnings Call Transcript November 9, 2023 10:00 AM ET

Company Participants

Mike Gaudreau - FTI Consulting

Will Miller - President and CEO

Debbie Whitmire - EVP and CFO

Conference Call Participants

Mike Shlisky - D.A. Davidson

Operator

Good day, ladies and gentlemen, and welcome to the Miller Industries Third Quarter 2023 Results Conference Call. Please note, this event is being recorded.

And now at this time, I would like to turn the call over to Mike Gaudreau at FTI Consulting. Please go ahead, sir.

Mike Gaudreau

Thank you, and good morning, everyone. I would like to welcome you to the Miller Industries conference call. We are here to discuss the company's 2023 third quarter results, which were released after close of the market yesterday.

With us from the management team today are Bill Miller, Chairman of the Board; Will Miller, President and CEO; Debbie Whitmire, Executive Vice President and CFO; and Frank Madonia, Executive Vice President, Secretary and General Counsel. Today's call will begin with formal remarks for management, followed by a question-and-answer session.

Please note, in this morning's conference call, management may make forward-looking statements in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. I'd like to call your attention to the risks related to these statements, which are more fully described in the company's Annual Report filed on Form 10-K and other filings with the Securities and Exchange Commission.

At this time, I'd like to turn the call over to Will. Please go ahead, Will.

Will Miller

Thank you, and good morning, everyone. It is a great feeling to report yet another strong quarter, proving once again that our strategic actions are yielding positive results. In stepping into this role, a great focus of mine has been on innovation and modernization. In 2019, we built a freestanding research and development facility to accelerate product development, increase research and integration of automation and robotics, reduce our environmental impact and improve safety within our operating footprint.

Unfortunately, given the macroeconomic environment over the last two to three years, we have not really had an opportunity to see these investments bear fruit in our results until this year. We believe that the strong performance we've reported thus far this year is attributed to our team's execution on the strategic initiatives we put in place, investments we have made over the last decade, both in improving our facilities, increasing capacity, and attracting and retaining the best talent in the industry. Those investments in our production capabilities and our strategy to accumulate inventory to service our elevated backlog are paying off this year.