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Allison Transmission Announces Third Quarter 2024 Results

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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 ha riportato risultati record per il terzo trimestre del 2024, con vendite nette di 824 milioni di dollari, in aumento del 12% rispetto all'anno precedente. Il reddito netto ha raggiunto 200 milioni di dollari, con un incremento del 27%, mentre l'EPS diluito ha toccato un record trimestrale di 2,27 dollari, in aumento del 29%. La crescita è stata trainata dalla forte domanda nei mercati On-Highway del Nord America, Difesa e nei mercati al di fuori del Nord America. L'azienda ha rivisto al rialzo le previsioni per il 2024, con vendite nette stimate tra 3.135 e 3.215 milioni di dollari e un reddito netto tra 675 e 725 milioni di dollari. L'EBITDA aggiustato per il terzo trimestre è stato di 305 milioni di dollari, con un flusso di cassa netto dalle operazioni pari a 246 milioni di dollari.

Allison Transmission reportó resultados récord en el tercer trimestre de 2024, con ventas netas de 824 millones de dólares, un aumento del 12% interanual. El ingreso neto alcanzó 200 millones de dólares, incrementándose un 27%, mientras que el EPS diluido alcanzó un récord trimestral de 2.27 dólares, aumentando un 29%. El crecimiento fue impulsado por una fuerte demanda en los mercados On-Highway de América del Norte, Defensa y otros mercados fuera de América del Norte. La compañía elevó su guía para todo el año 2024, con ventas netas proyectadas de entre 3.135 y 3.215 millones de dólares y un ingreso neto de entre 675 y 725 millones de dólares. El EBITDA ajustado para el tercer trimestre fue de 305 millones de dólares, con un flujo de caja neto de operaciones de 246 millones de dólares.

앨리슨 트랜스미션은 2024년 3분기 실적에서 8억 2400만 달러의 순매출을 기록하며 전년 대비 12% 증가했다고 보고했습니다. 순이익은 2억 달러에 도달하여 27% 증가했으며, 희석 주당 순이익은 분기 기록인 2.27달러로 29% 상승했습니다. 성장은 북미 도로, 방위 및 북미 외 시장에서의 강력한 수요에 힘입어 이루어졌습니다. 회사는 2024년 전체 연도 가이던스를 상향 조정하여 순매출을 31억 3500만에서 32억 1500만 달러로, 순이익을 6억 7500만에서 7억 2500만 달러로 예상했습니다. 3분기 조정 EBITDA는 3억 500만 달러였고, 운영으로부터의 순 현금은 2억 4600만 달러였습니다.

Allison Transmission a annoncé des résultats records pour le troisième trimestre 2024, avec des ventes nettes de 824 millions de dollars, soit une augmentation de 12% par rapport à l'année précédente. Le revenu net a atteint 200 millions de dollars, en hausse de 27%, tandis que le BPA dilué a atteint un record trimestriel de 2,27 dollars, en hausse de 29%. La croissance a été stimulée par une forte demande sur les marchés nord-américains, de défense et en dehors de l'Amérique du Nord. L'entreprise a relevé ses prévisions pour l'année 2024, avec des ventes nettes projetées entre 3,135 et 3,215 millions de dollars et un revenu net de 675 à 725 millions de dollars. Le BAIIA ajusté pour le troisième trimestre était de 305 millions de dollars, avec un flux de trésorerie net des opérations de 246 millions de dollars.

Allison Transmission hat im dritten Quartal 2024 Rekordergebnisse mit einem Nettoumsatz von 824 Millionen Dollar gemeldet, was einem Anstieg von 12% im Vergleich zum Vorjahr entspricht. Der Nettogewinn betrug 200 Millionen Dollar, was einem Anstieg von 27% entspricht, während der verwässerte Gewinn pro Aktie mit 2,27 Dollar einen Quartalsrekord erreichte, was einem Anstieg von 29% entspricht. Das Wachstum wurde durch eine starke Nachfrage in den nordamerikanischen On-Highway-, Verteidigungs- und außerhalb von Nordamerika-Märkten vorangetrieben. Das Unternehmen hat seine Gesamtjahresprognose für 2024 angehoben, mit einem prognostizierten Nettoumsatz von 3.135 bis 3.215 Millionen Dollar und einem Nettogewinn von 675 bis 725 Millionen Dollar. Das bereinigte EBITDA für das dritte Quartal betrug 305 Millionen Dollar, mit einem Nettokassenfluss aus dem operativen Geschäft von 246 Millionen Dollar.

Positive
  • Record quarterly net sales of $824M, up 12% YoY
  • Net income increased 27% to $200M
  • Record quarterly diluted EPS of $2.27, up 29% YoY
  • Adjusted EBITDA grew to $305M from $267M YoY
  • Strong operating cash flow of $246M, up from $212M YoY
  • Raised full year 2024 guidance for revenue, earnings and cash flow
Negative
  • North America Off-Highway sales declined by $8M YoY
  • Service Parts, Support Equipment & Other sales decreased by $3M YoY
  • Higher manufacturing expenses impacted gross profit
  • Increased operating working capital funding requirements

Insights

Allison Transmission delivered an exceptionally strong quarter with multiple record-breaking metrics. $824M in quarterly revenue represents a 12% YoY growth, while net income jumped 27% to $200M. The standout performance was driven by robust demand in North America On-Highway segment, particularly in Class 8 vocational vehicles, contributing an additional $81M in sales.

The company's operational efficiency is evident in the improved margins, with Adjusted EBITDA reaching $305M, up 14.2% YoY. Strong cash generation continues with $210M in adjusted free cash flow. The raised full-year guidance suggests management's confidence in sustained momentum, projecting net sales between $3.135B and $3.215B.

The robust growth in Allison's Defense segment and record performance in Outside North America On-Highway market signals successful market diversification. The Asia market expansion and pricing power demonstrate strong competitive positioning. However, European demand softness warrants monitoring. The vocational truck market strength, particularly in Class 8, indicates healthy industrial and infrastructure activity.

The company's ability to implement price increases while maintaining volume growth suggests strong market leadership and pricing power. The combination of revenue growth, margin expansion and increased guidance indicates a positive trajectory for market share and profitability.

  • Record quarterly net sales of $824 million, up 12% year over year
  • Net Income of $200 million, up 27% year over year
  • Diluted EPS of $2.27, a quarterly record, up 29% year over year
  • Increasing full year 2024 revenue, earnings and cash flow guidance 

INDIANAPOLIS, Oct. 29, 2024 /PRNewswire/ -- Allison Transmission Holdings Inc. (NYSE: ALSN), today reported third quarter net sales of $824 million, a quarterly record driven by continued strength in our North America On-Highway, Defense and Outside North America On-Highway end markets. 

David S. Graziosi, Chair and Chief Executive Officer of Allison Transmission commented, "Demonstrated through our third quarter 2024 results, unprecedented demand for Class 8 vocational vehicles in our North America On-Highway end market continues to drive record performance for our business. Third quarter net sales increased 12 percent year over year, surpassed by an even stronger increase in diluted EPS, up 29 percent year over year to a quarterly record of $2.27 per share."

Graziosi continued, "Based on the ongoing strength in our North America On-Highway end market and a favorable outlook for the remainder of the year, we are pleased to raise our full year 2024 revenue, earnings and cash flow guidance."

Third Quarter Financial Highlights

Net sales for the quarter were a record $824 million. Year over year results were led by:

  • An $81 million increase in net sales in the North America On-Highway end market principally driven by strength in demand for Class 8 vocational vehicles and medium-duty trucks and price increases on certain products,
  • A $10 million increase in net sales in the Defense end market principally driven by increased demand for Tracked vehicle applications, and
  • An $8 million increase in net sales in the Outside North America On-Highway end market, leading to record third quarter net sales of $126 million, principally driven by higher demand in Asia and price increases on certain products, partially offset by lower demand in Europe.

Net income for the quarter was $200 million. Diluted EPS for the quarter was $2.27. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $305 million. Net cash provided by operating activities for the quarter was $246 million. Adjusted free cash flow, a non-GAAP financial measure, for the quarter was $210 million.

Third Quarter Net Sales by End Market

 

End Market

Q3 2024

Net Sales ($M)

Q3 2023

Net Sales ($M)

 

Variance

North America On-Highway

$457

$376

$81

North America Off-Highway

$1

$9

($8)

Defense

$53

$43

$10

Outside North America On-Highway

$126

$118

$8

Outside North America Off-Highway

$19

$19

$0

Service Parts, Support Equipment & Other

$168

$171

($3)

Total Net Sales

$824

$736

$88

Third Quarter Financial Results

Gross profit for the quarter was $396 million, an increase of $39 million from $357 million for the same period in 2023. The increase in gross profit was principally driven by increased net sales and price increases on certain products, partially offset by higher manufacturing expense. 

Selling, general and administrative expenses for the quarter were $85 million, a decrease of $1 million from $86 million for the same period in 2023. The decrease was principally driven by lower intangible amortization expense, partially offset by increased commercial activities spending and higher incentive compensation expense.

Engineering – research and development expenses for the quarter were $51 million, an increase of $2 million from $49 million for the same period in 2023.

Net income for the quarter was $200 million, an increase of $42 million from $158 million for the same period in 2023. The increase was principally driven by higher gross profit and lower interest expense, net.

Net cash provided by operating activities was $246 million, an increase of $34 million from $212 million for the same period in 2023. The increase was principally driven by higher gross profit, partially offset by higher operating working capital funding requirements and higher cash income taxes.

Third Quarter Non-GAAP Financial Measures 

Adjusted EBITDA for the quarter was $305 million, an increase of $38 million from $267 million for the same period in 2023. The increase in Adjusted EBITDA was principally driven by higher gross profit.

Adjusted free cash flow for the quarter was $210 million, an increase of $28 million from $182 million for the same period in 2023. The increase was principally driven by higher net cash provided by operating activities, partially offset by higher capital expenditures.

2024 Guidance Update

Given third quarter 2024 results and current end markets conditions, we are raising our full year 2024 guidance midpoints. Allison expects 2024 Net Sales in the range of $3,135 to $3,215 million, Net Income in the range of $675 to $725 million, Adjusted EBITDA in the range of $1,115 to $1,175 million, Net Cash Provided by Operating Activities in the range of $740 to $800 million, Capital Expenditures in the range of $135 to $145 million, and Adjusted Free Cash Flow in the range of $605 to $655 million

Conference Call and Webcast

The Company will host a conference call at 5:00 p.m. EDT on Tuesday, October 29, 2024 to discuss its third quarter 2024 results. The dial-in phone number for the conference call is +1-877-425-9470 and the international dial-in number is +1-201-389-0878. A live webcast of the conference call will also be available online at https://ir.allisontransmission.com

For those unable to participate in the conference call, a replay will be available from 9:00 p.m. EDT on October 29 until 11:59 p.m. EDT on November 12. The replay dial-in phone number is +1-844-512-2921 and the international replay dial-in number is +1-412-317-6671. The replay passcode is 13749295.

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway vehicles (distribution, refuse, construction, agriculture, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,600 independent distributor and dealer locations worldwide. For more information, visit https://allisontransmission.com

Forward-Looking Statements

This press release contains forward-looking statements. The words "believe," "expect," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Although forward-looking statements reflect management's good faith beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date the statements are made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to: our participation in markets that are competitive; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments, competitive threats and changing customer needs, including with respect to electric hybrid and fully electric commercial vehicles; increases in cost, disruption of supply or shortage of labor, freight, raw materials, energy or components used to manufacture or transport our products or those of our customers or suppliers, including as a result of geopolitical risks, wars and pandemics; global economic volatility; general economic and industry conditions, including the risk of recession; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers or suppliers; the highly cyclical industries in which certain of our end users operate; uncertainty in the global regulatory and business environments in which we operate; the concentration of our net sales in our top five customers and the loss of any one of these; the failure of markets outside North America to increase adoption of fully automatic transmissions; the success of our research and development efforts, the outcome of which is uncertain; U.S. and foreign defense spending; risks associated with our international operations, including acts of war and increased trade protectionism; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to identify, consummate and effectively integrate acquisitions and collaborations; and risks related to our indebtedness.

Use of Non-GAAP Financial Measures

This press release contains information about Allison's financial results and forward-looking estimates of financial results which are not presented in accordance with accounting principles generally accepted in the United States ("GAAP"). Such non-GAAP financial measures are reconciled to their closest GAAP financial measures at the end of this press release. Non-GAAP financial measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures of other companies. 

We use Adjusted EBITDA and Adjusted EBITDA as a percent of net sales to measure our operating profitability. We believe that Adjusted EBITDA and Adjusted EBITDA as a percent of net sales provide management, investors and creditors with useful measures of the operational results of our business and increase the period-to-period comparability of our operating profitability and comparability with other companies. Adjusted EBITDA as a percent of net sales is also used in the calculation of management's incentive compensation program. The most directly comparable GAAP measure to Adjusted EBITDA is Net income. The most directly comparable GAAP measure to Adjusted EBITDA as a percent of net sales is Net Income as a percent of net sales. Adjusted EBITDA is calculated as the earnings before interest expense, net, income tax expense, amortization of intangible assets, depreciation of property, plant and equipment and other adjustments as defined by Allison Transmission, Inc.'s, the Company's wholly-owned subsidiary, Second Amended and Restated Credit Agreement. Adjusted EBITDA as a percent of net sales is calculated as Adjusted EBITDA divided by net sales.

We use Adjusted Free Cash Flow to evaluate the amount of cash generated by our business that, after the capital investment needed to maintain and grow our business and certain mandatory debt service requirements, can be used for the repayment of debt, stockholder distributions and strategic opportunities, including investing in our business. We believe that Adjusted Free Cash Flow enhances the understanding of the cash flows of our business for management, investors and creditors. Adjusted Free Cash Flow is also used in the calculation of management's incentive compensation program. The most directly comparable GAAP measure to Adjusted Free Cash Flow is Net cash provided by operating activities. Adjusted Free Cash Flow is calculated as Net cash provided by operating activities, after additions of long-lived assets.

Attachments

  • Condensed Consolidated Statements of Operations
  • Condensed Consolidated Balance Sheets
  • Condensed Consolidated Statements of Cash Flows
  • Reconciliation of GAAP to Non-GAAP Financial Measures
  • Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year Guidance

 

Allison Transmission Holdings, Inc.

Condensed Consolidated Statements of Operations

(Unaudited, dollars in millions, except per share data)












Three months ended September 30, 


Nine months ended September 30, 



2024


2023


2024


2023

Net sales


$                     824


$                     736


$                  2,429


$                  2,260

Cost of sales


428


379


1,273


1,161

Gross profit


396


357


1,156


1,099

Selling, general and administrative


85


86


253


265

Engineering - research and development


51


49


146


140

Operating income


260


222


757


694

Interest expense, net


(21)


(27)


(68)


(83)

Other income (expense), net


10


(2)


(2)


10

Income before income taxes


249


193


687


621

Income tax expense


(49)


(35)


(131)


(118)

Net income


$                     200


$                     158


$                     556


$                     503

Basic earnings per share attributable to common
stockholders


$                    2.30


$                    1.76


$                    6.39


$                    5.53

Diluted earnings per share attributable to common
stockholders


$                    2.27


$                    1.76


$                    6.32


$                    5.53

 

Allison Transmission Holdings, Inc.

Condensed Consolidated Balance Sheets

(Unaudited, dollars in millions)














 September 30, 


 December 31, 






2024


2023

ASSETS








Current Assets







    Cash and Cash Equivalents



$                     788


$                 555

    Accounts receivable, net



393


356

    Inventories




326


276

    Other current assets



85


63

Total Current Assets



1,592


1,250









Property, plant and equipment, net


780


774

Intangible assets, net



825


833

Goodwill





2,076


2,076

Other non-current assets



95


92

TOTAL ASSETS




$                 5,368


$             5,025









LIABILITIES







Current Liabilities







    Accounts payable




$                     272


$                 210

    Product warranty liability



29


32

    Current portion of long-term debt 


5


6

    Deferred revenue




45


41

    Other current liabilities



212


212

Total Current Liabilities



563


501









Product warranty liability



32


27

Deferred revenue




93


89

Long-term debt




2,396


2,497

Deferred income taxes



505


519

Other non-current liabilities



158


159

TOTAL LIABILITIES




3,747


3,792









TOTAL STOCKHOLDERS' EQUITY


1,621


1,233

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY

$                 5,368


$             5,025

 

Allison Transmission Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited, dollars in millions)




















 Three months ended September 30, 


Nine months ended September 30, 







2024


2023


2024


2023

Net cash provided by operating activities



$                     246


$                     212


$                     590


$                     546

Net cash used for investing activities (a)



(38)


(30)


(70)


(71)

Net cash used for financing activities



(69)


(31)


(287)


(205)

Effect of exchange rate changes on cash



1


(1)


-


(1)

Net increase in cash and cash equivalents



140


150


233


269

Cash and cash equivalents at beginning of period



648


351


555


232

Cash and cash equivalents at end of period



$                     788


$                     501


$                     788


$                     501

Supplemental disclosures:











          Income taxes paid




$                     (51)


$                     (43)


$                   (150)


$                   (164)

          Interest paid





$                     (29)


$                     (31)


$                     (91)


$                     (95)

          Interest received from interest rate swaps



$                         3


$                         3


$                       10


$                         8














(a)  Additions of long-lived assets






$                     (36)


$                     (30)


$                     (68)


$                     (73)

 

Allison Transmission Holdings, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited, dollars in millions)




















 Three months ended 


 Nine months ended 







 September 30, 


 September 30, 







2024


2023


2024


2023

Net income (GAAP)




$            200


$           158


$            556


$           503

plus:












    Income tax expense




49


35


131


118

    Depreciation of property, plant and equipment



28


28


82


81

    Interest expense, net



21


27


68


83

    Amortization of intangible assets



1


11


8


33

    Stock-based compensation expense (a)



6


6


20


17

    UAW Local 933 contract signing incentives (b)



-


-


14


-

    Unrealized (gain) loss on marketable securities (c)



(2)


2


8


(1)

    Pension plan settlement loss (d)



-


-


4


-

    Unrealized loss on foreign exchange (e)



1


-


1


-

    Equity earnings in equity method investments (f)



1


-


1


-

    Technology-related investments loss (gain) (g)



-


-


1


(3)

    Loss associated with impairment of long-lived assets



-


-


1


-

Adjusted EBITDA (Non-GAAP)



$            305


$           267


$            895


$           831

Net sales (GAAP)




$            824


$           736


$         2,429


$        2,260

Net income as a percent of net sales (GAAP)



24.3 %


21.5 %


22.9 %


22.3 %

Adjusted EBITDA as a percent of net sales (Non-GAAP)



37.0 %


36.3 %


36.8 %


36.8 %














Net cash provided by operating activities (GAAP)



$            246


$           212


$            590


$           546

Deductions to Reconcile to Adjusted Free Cash Flow:










    Additions of long-lived assets



(36)


(30)


(68)


(73)

Adjusted free cash flow (Non-GAAP)



$            210


$           182


$            522


$           473



(a)

Represents stock-based compensation expense (recorded in Cost of sales, Selling, general and administrative, and Engineering — research and development).

(b)

Represents non-recurring incentives (recorded in Cost of sales, Selling, general and administrative, and Engineering — research and development) to eligible employees as a result of International Union, United Automobile, Aerospace and Agricultural Implement Workers of America ("UAW") Local 933 represented employees ratifying a four-year collective bargaining agreement effective through November 2027.

(c)

Represents a (gain) loss (recorded in Other income (expense), net) related to an investment in the common stock of Jing-Jin Electric Technologies Co. Ltd.

(d)

Represents a non-cash settlement charge (recorded in Other income (expense), net) for a pro rata portion of previously unrecognized pension plan actuarial net losses associated with the pension risk transfer of a portion of our salaried defined benefit pension plan obligations to a third-party insurance company.

(e)

Represents losses (recorded in Other income (expense), net) on intercompany financing transactions for our India facility.

(f)

Represents a loss (recorded in Other income (expense), net) related to equity earnings in equity method investments.

(g)

Represents a loss (gain) (recorded in Other income (expense), net) related to investments in co-development agreements to expand our position in propulsion solution technologies.

 


Allison Transmission Holdings, Inc.


Reconciliation of GAAP to Non-GAAP Financial Measures for Full Year Guidance


(Unaudited, dollars in millions)










Guidance




Year Ending December 31, 2024




Low


High

Net Income (GAAP)


$                  675


$                  725

plus:











Income tax expense


170


180

Depreciation of property, plant and equipment


113


113

Interest expense, net


90


90

Amortization of intangible assets


11


11

Stock-based compensation expense (a)


26


26

UAW Local 933 contract signing incentives (b)


14


14

Unrealized loss on marketable securities (c)


8


8

Pension plan settlement loss (d)



4


4

Unrealized loss on foreign exchange (e)


1


1

Equity earnings in equity method investments (f)



1


1

Technology-related investments loss (g)


1


1

Loss associated with impairment of long-lived assets


1


1













Adjusted EBITDA (Non-GAAP)



$               1,115


$               1,175







Net Cash Provided by Operating Activities (GAAP)



$                  740


$                  800

Deductions to Reconcile to Adjusted Free Cash Flow:






    Additions of long-lived assets



$                 (135)


$                 (145)

Adjusted Free Cash Flow (Non-GAAP)



$                  605


$                  655



(a)

Represents stock-based compensation expense (recorded in Cost of sales, Selling, general and administrative, and Engineering — research and development).

(b)

Represents non-recurring incentives (recorded in Cost of sales, Selling, general and administrative, and Engineering - research and development) to eligible employees as a result of UAW Local 933 represented employees ratifying a four-year collective bargaining agreement effective through November 2027.

(c)

Represents a loss (recorded in Other income (expense), net) related to an investment in the common stock of Jing-Jin Electric Technologies Co. Ltd.

(d)

Represents a non-cash settlement charge (recorded in Other income (expense), net) for a pro rata portion of previously unrecognized pension plan actuarial net losses associated with the pension risk transfer of a portion of our salaried defined benefit pension plan obligations to a third-party insurance company.

(e)

Represents losses (recorded in Other income (expense), net) on intercompany financing transactions for our India facility.

(f)

Represents a loss (recorded in Other income (expense), net) related to equity earnings in equity method investments.

(g)

Represents a loss (recorded in Other income (expense), net) related to investments in co-development agreements to expand our position in propulsion solution technologies.

 

Allison Transmission Holdings Inc. Logo (PRNewsfoto/Allison Transmission Holdings Inc.)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/allison-transmission-announces-third-quarter-2024-results-302290556.html

SOURCE Allison Transmission Holdings Inc.

FAQ

What was Allison Transmission's (ALSN) revenue in Q3 2024?

Allison Transmission reported record quarterly net sales of $824 million in Q3 2024, representing a 12% increase year-over-year.

How much did Allison Transmission's (ALSN) EPS grow in Q3 2024?

Allison Transmission's diluted EPS grew 29% year-over-year to reach a quarterly record of $2.27 per share in Q3 2024.

What is Allison Transmission's (ALSN) revenue guidance for full year 2024?

Allison Transmission raised its 2024 guidance and expects net sales in the range of $3,135 to $3,215 million for the full year.

Which markets drove Allison Transmission's (ALSN) growth in Q3 2024?

Growth was primarily driven by North America On-Highway ($81M increase), Defense ($10M increase), and Outside North America On-Highway ($8M increase) markets.

ALLISON TRANSMISSION HOLDINGS, INC.

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