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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 announces the launch of hydrogen fuel cell and CNG testing at its Vehicle Electrification + Environmental Test Center in Indianapolis. This expansion facilitates external customer test programs for various vehicle propulsion types, including battery electric and hydrogen fuel cells. The facility, unique in the Midwest, enhances Allison's role in alternative fuel vehicle development aimed at emissions reduction. Notably, the center has completed the testing of its first hydrogen fuel cell vehicle, supporting ongoing projects with multiple OEM partners.
Allison Transmission has secured a $6.55 million contract from the U.S. Army to develop an electric hybrid sub-system for its Next Generation Electrified Transmission, aimed at enhancing armored combat vehicles. This technology will improve mobility and fuel efficiency while reducing thermal and acoustic signatures. The transmission is designed for various applications, including the Army’s Optionally Manned Fighting Vehicle (OMFV) program, which is set to replace aging Bradley vehicles. This collaboration underscores Allison's commitment to defense modernization and innovative propulsion solutions.
Allison Transmission Holdings Inc. (NYSE: ALSN) announced significant changes to its Board of Directors, including the appointment of Richard P. Lavin as Lead Independent Director, succeeding Thomas W. Rabaut. Four new independent directors—Philip J. Christman, Sasha Ostojic, Gustave F. Perna, and Krishna Shivram—are appointed, while four directors retire. This Board refreshment aims to enhance the skills and perspectives crucial for Allison's growth and transition to zero-emission vehicles.
Allison Transmission (NYSE: ALSN) declared a cash dividend of $0.21 per share for Q3 2022. The payment date is set for August 31, 2022, with a record date of August 22, 2022. Future dividends will depend on the company's financial situation, operational results, cash flow, and capital needs, as determined by the Board of Directors.
Allison Transmission specializes in propulsion solutions for both commercial and defense vehicles and is globally recognized for its automatic transmissions.
Allison Transmission Holdings reported net sales of $664 million for Q2 2022, up 10% year-over-year, driven by price increases and strong customer demand despite supply chain challenges. Diluted EPS rose 25% to $1.26. The company affirmed its 2022 financial guidance with a projected net sales range of $2.65 to $2.75 billion. Net income for the quarter was $122 million, reflecting an increase from $110 million in Q2 2021. Adjusted EBITDA improved by $14 million to $227 million. Share repurchases totaled $34 million in Q2.
Allison Transmission has announced the successful implementation of its award-winning 3414 Regional Haul Series (RHS) transmission in three of North America's five largest private fleets, comprising approximately 25,000 tractors. This development is attributed to Allison's consistent investment in the 3414 RHS, representing a potential $100 million in annual revenue. Two major food distributors have adopted this technology, highlighting its efficiency in reducing fuel consumption and emissions. The 3414 RHS offers up to 8% better fuel economy and faster acceleration, enhancing fleet productivity.
Allison Transmission (NYSE: ALSN) reports strong demand for its eGen Flex™ electric hybrid propulsion system, with multiple public transit agencies in the Midwest, including IndyGo and the Metropolitan Evansville Transit System, opting for the technology. The eGen Flex system allows buses to operate in electric-only mode for up to 10 miles, significantly reducing carbon emissions. The company highlights its commitment to sustainability and improved public transportation. Allison’s innovations have led to over 3 billion miles of operation and significant diesel fuel savings since 2003.
Allison Transmission, a leader in automatic transmissions, will supply its 3040 MX transmission for the U.S. Army's Mobile Protected Firepower (MPF) vehicle, marking the Army's first new armored combat vehicle in over 40 years. This initiative is part of the Army's modernization efforts, expecting to buy over 500 MPF vehicles by 2035, potentially generating around $250 million in revenue for Allison. The 3040 MX will enhance the vehicle's mobility and soldier protection, reinforcing Allison's long-standing collaboration with the U.S. Department of Defense.
Allison Transmission has announced the integration of its new FracTran® into the operations of Calfrac Well Services Ltd., a major hydraulic fracturing company. The FracTran, designed for high reliability and efficiency, can operate with dual fuel engines and offers up to 3,500 horsepower without hardware modifications. Its features include eight gear ranges and advanced diagnostics, which enhance performance in demanding conditions. Calfrac's initial experience has shown improved productivity with this equipment, indicating its potential to deliver significant operational benefits.
Allison Transmission Holdings Inc. (NYSE: ALSN) will announce its second quarter 2022 financial results during a conference call on August 3, 2022, at 5:00 p.m. ET. The conference will be hosted by CEO David S. Graziosi and CFO G. Frederick Bohley, following the release of financial results post-market on the same day. Interested parties can join the call at 1-877-425-9470 or listen via webcast. A replay will be available until August 10, 2022.
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