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Allison Transmission Holdings, Inc. (NYSE: ALSN) stands as the world's largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, and a leader in hybrid-propulsion systems for city buses. Founded in 1915, Allison is headquartered in Indianapolis, Indiana, USA, and employs approximately 2,700 people worldwide. The company boasts a strong global presence with operations in over 80 countries and regional headquarters in the Netherlands, China, and Brazil.
Allison's products are utilized in a diverse array of applications, including refuse, construction, fire, distribution, bus, motorhomes, defense, and energy sectors. Their transmissions are designed to enhance fuel and operator efficiency, making them a preferred choice over manual and automated manual transmissions. With a commanding presence in the on-highway business, Allison holds about 60% of the global market share in Class 4-8 trucks, buses, and certain heavy-duty passenger vehicles like motorhomes.
Committed to innovation, Allison is at the forefront of developing electric hybrid propulsion systems and e-powertrains, extending its technological reach into sustainable transportation solutions. A testament to this commitment is the recent partnership with New Flyer to equip New Orleans' buses with Allison's eGen Flex® electric hybrid propulsion system, offering enhanced sustainability and emergency preparedness capabilities.
Allison also prides itself on a robust and expansive service network, with approximately 1,600 independent distributor and dealer locations worldwide. Recent expansions include a new authorized service location in Rwanda and collaborations with major partners such as Penske in Australia and Polska Grupa Zbrojeniowa in Europe, ensuring comprehensive support and service availability for their products globally.
Financially, Allison continues to show strong performance. In the first quarter of 2024, the company reported record net sales of $789 million, driven by robust demand across various markets and strategic price increases. Despite industry challenges, Allison has maintained a prudent balance sheet, focusing on a low-cost, flexible debt structure and continued capital returns to shareholders through share repurchases and increased dividends.
Allison's venture arm, Allison Ventures, further underscores their dedication to future growth and innovation by committing $10 million to EnerTech Capital, aiming to access and leverage emerging automotive technologies. This strategic investment aligns with Allison's broader efforts to enhance its innovation pipeline across commercial mobility and work solutions.
For more detailed information on Allison Transmission's products, services, and latest developments, visit allisontransmission.com.
Allison Transmission has declared a quarterly cash dividend of $0.25 per share on its common stock for Q3 2024. The dividend will be paid on November 27, 2024, to shareholders of record as of November 18, 2024. Future dividends will be determined by the Board of Directors based on the company's financial position, operational results, available cash, cash flow, capital requirements, and other relevant factors.
Allison Transmission reported record Q3 2024 results with net sales of $824 million, up 12% year-over-year. Net income reached $200 million, increasing 27%, while diluted EPS hit a quarterly record of $2.27, up 29%. Growth was driven by strong demand in North America On-Highway, Defense, and Outside North America markets. The company raised its full year 2024 guidance, with projected net sales of $3,135-$3,215 million and net income of $675-$725 million. Adjusted EBITDA for Q3 was $305 million, with net cash from operations at $246 million.
Allison Transmission and Ashok Leyland have partnered to introduce the first low-floor city buses with fully automatic transmissions in Tamil Nadu, India. The new buses feature Allison Torqmatic® Series transmissions and are designed to accommodate passengers with disabilities, replacing existing manual transmission buses. The Allison T 280 transmissions will be paired with Ashok Leyland's H-series diesel engine (184 kW/246 HP) and manufactured near Chennai. The buses will operate in major cities including Chennai, Madurai, and Coimbatore, reinforcing Allison's position as the market share leader in India's low-floor city bus segment.
Allison Transmission has announced a significant expansion of its Chennai, India manufacturing facility through a $100-million investment. The project will double the facility's footprint with a 200,000 square-foot expansion, scheduled for completion in 2025 and full operational capacity by 2027. The expansion aims to increase production capacity for the company's on-highway fully automatic transmission portfolio, responding to growing global demand and enhancing operational flexibility.
Allison Transmission reports significant expansion in global Defense market share through multiple program wins for wheeled defense vehicles outside North America. The company secured contracts for its Specialty Series™ (SP) transmission with several defense programs including: Canadian Department of National Defence's Mercedes-Benz Zetros vehicles, British Ministry of Defence's Boxer armored vehicle program, German Federal Armed Forces' Boxer vehicles, Polish Bóbr-3 Light Armored Reconnaissance Carriers, and Romanian MoD's defense logistic platforms. Production and deliveries for various programs are scheduled to begin in 2025, with some contracts extending to 2035.
Allison Ventures, the venture capital arm of Allison Transmission, has made a strategic investment in Agtonomy, a software and services company specializing in AI-enabled automation for agriculture and land maintenance. Founded in 2021, Agtonomy integrates its technology into tractors and equipment, creating digitally controlled systems that prioritize safety, profitability, and sustainability.
Agtonomy's innovative teleguidance application allows a single user to monitor and control a fleet, reducing labor costs and increasing productivity for farmers. The investment will help Agtonomy expand its pilot program geographically and across more vehicle platforms. This partnership aligns with Allison's investment goals and commitment to fostering innovation in strategic domains.
Allison Transmission has announced an uprate to its B400 and B3400 xFE fully automatic transmissions, including retarder models. The uprated versions will now support ratings up to 350 horsepower and 1,150 ft. lbs. of torque, enabling non-articulated bus fleets to continue using these transmissions as the industry transitions to the Cummins X10 engine for EPA27 Phase 3 emissions compliance.
This announcement follows a recent collaboration between Allison Transmission and Cummins to integrate and certify a Cummins B-Series engine with Allison's eGen Flex® electric hybrid propulsion system. The partnership aims to deliver advanced solutions for the transit market for model year 2027 and beyond, demonstrating both companies' commitment to innovation and environmental responsibility.
Allison Transmission Holdings Inc. (NYSE: ALSN) has announced its third quarter 2024 financial results conference call, scheduled for Tuesday, October 29, 2024, at 5:00 p.m. EDT. The company's Chair & CEO, David S. Graziosi, and COO, CFO & Treasurer, G. Frederick Bohley, will review the financial performance for the period.
The earnings release will be issued after market close on the same day. Investors can join the call via phone (+1-877-425-9470 for US, +1-201-389-0878 for international) or watch the live webcast on the company's investor relations website. A replay will be available from 9:00 p.m. EDT on October 29 until November 12, accessible by phone (+1-844-512-2921 for US, +1-412-317-6671 for international) using passcode 13749295.
Allison Transmission and LiuGong, a leading global construction equipment manufacturer, have strengthened their strategic partnership by signing a Memorandum of Understanding (MOU) in Balikpapan, Indonesia. The agreement was part of a customer ride-and-drive event featuring LiuGong's new 70-ton DW105A Wide Body Dump Truck equipped with Allison's 4800 Wide Body Dump Series™ (WBD) transmission.
The event, attended by over 200 customers and partners, showcased the capabilities of the new truck designed for challenging mining environments. This collaboration aims to serve the growing Indonesian mining industry and expand globally. The partnership highlights both companies' commitment to delivering innovative solutions for the mining sector.
Allison Transmission has integrated its 4000 Series™ transmission into a Class 8 hydrogen-fueled truck showcased at SAE International's COMVEC. The vehicle, developed by Southwest Research Institute (SwRI), demonstrates emissions control surpassing upcoming EPA/CARB 2027 and Euro 7 standards. Allison's fuel-agnostic transmissions offer optimal integration with various fuel sources, including hydrogen, enhancing sustainability without compromising performance.
The truck is part of SwRI's H2-ICE Consortium, aiming to demonstrate the potential of hydrogen-fueled internal combustion engines for decarbonizing transportation. These vehicles achieve a 99.7% reduction in CO2 emissions compared to diesel engines, qualifying as Zero CO2 Emissions Vehicles under future U.S. and European standards.
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