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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 received the Legacy Award from the American Lung Association in Indiana during the Evening of Promise Gala. This award recognizes Allison's commitment to creating a healthy work environment and producing innovative, eco-friendly solutions. Over the past three years, the company has invested $250 million in electric hybrid and fully electric propulsion technologies, reducing over 3.4 million metric tons of CO2 emissions. Their eGen FlexTM system offers up to 10 miles of electric range, contributing significantly to fuel efficiency and cleaner air.
Randall R. Kirk, Senior VP of Product Engineering & Planning at Allison Transmission (NYSE: ALSN), is retiring on August 6, 2021, after 45 years of service. Kirk played a critical role in product innovation and development, significantly contributing to Allison's growth in on-highway, off-highway, and defense markets. He led initiatives that enhanced the company's product portfolio and spearheaded investments in advanced technology facilities to improve product development. His leadership has been pivotal in positioning Allison for future success.
Allison Transmission announces its collaboration with Caterpillar Defense, FNSS, and PT Pindad for the production of the Harimau medium tank for the Indonesian Armed Forces. With plans to manufacture 200 to 400 units, the Harimau is designed for Asia's challenging terrains, enhancing Indonesia's mechanized forces. This initiative is part of Indonesia's modernization efforts and utilizes Allison's advanced cross-drive transmission technology. The company emphasizes its commitment to providing reliable propulsion systems for defense vehicles worldwide, as it continues to support global military requirements.
Allison Transmission Holdings has declared a cash dividend of $0.19 per share for Q2 2021, payable on May 28, 2021. This dividend will benefit shareholders of record as of May 17, 2021. Future dividends will depend on the company's financial health and operational results. Allison Transmission is a leading manufacturer of automatic transmissions for commercial and defense vehicles, with operations in over 80 countries.
Allison Transmission Holdings reported Q1 2021 net sales of $588 million, an 8% decrease year-over-year but a 10% increase from Q4 2020. The net income for the quarter was $120 million, a decline from $139 million in Q1 2020. Diluted EPS was $1.07, with Adjusted EBITDA at $222 million. The company raised its 2021 net sales guidance to $2,325-$2,475 million, citing improved customer demand and planned investments in R&D. Gross profit fell to $291 million, indicating a decrease due to lower net sales and material costs.
Allison Transmission is set to feature on Military Makeover Operation Career on Lifetime TV, highlighting its commitment to supporting military veterans transitioning to civilian life. The episodes, airing on April 29 and May 7, showcase the success stories of veterans employed at Allison, a company with a longstanding history of partnership with the U.S. military. The recruitment initiative aims to create job opportunities for around 200,000 service members each year, leveraging their unique skills within the company.
Allison Transmission and Cummins have received annual certification from the California Air Resources Board for the 2021 Allison Hybrid 40/50 Electric Propulsion system with Cummins B6.7 and L9 diesel-electric hybrid engines. The certification is vital for compliance in transit buses, enhancing eco-friendliness by reducing emissions and improving fuel economy by up to 25%. Notably, the H 40/50 EP system includes a regenerative braking feature that can lengthen brake change intervals by 350%, lowering maintenance costs. The companies aim to focus on 2022 certification for the eGen Flex electric hybrid propulsion solution.
Allison Transmission and Emergency One (UK) Ltd have entered a strategic Memorandum of Understanding to integrate the Allison eGen Power™ 100D electric axle into Emergency One’s fire rescue vehicles. This collaboration builds on their existing relationship, with 90% of Emergency One's units already equipped with Allison’s automatic transmissions. The eGen Power 100D offers 536 continuous horsepower and a peak of 738 horsepower, enhancing vehicle performance and safety while reducing emissions. This partnership aims to deliver reliable electric solutions meeting and exceeding operational standards.
Allison Transmission has announced the launch of its eGen Flex electric hybrid propulsion solution at New York City Transit (NYCT) in May. This innovative system enables fully electric propulsion for up to 10 miles and improves fuel economy by up to 25% compared to traditional diesel buses. The eGen Flex aims to reduce emissions and fossil fuel dependency while enhancing performance and reliability for transit fleets. With over 2,500 NYCT buses equipped with Allison solutions, the partnership focuses on advancing sustainable transportation technologies for better environmental impact.
Allison Transmission has published its inaugural Environmental, Social and Governance (ESG) Report, aiming to provide transparency regarding its environmental performance and social impact. The report underscores Allison's dedication to corporate citizenship, highlighting investments of approximately $250 million in electric hybrid and fully electric propulsion technology over the last three years. Allison's eGen FlexTM system enhances fuel economy by up to 25% compared to diesel buses. The report includes initiatives for workplace inclusion and diversity, along with a commitment to improving community welfare.
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