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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 (NYSE: ALSN) has secured a $51 million contract for the X1100-3B1 transmission to support the Abrams Main Battle Tank used by the U.S. Army and Foreign Military Sales customers. This contract signifies Allison’s growing defense sales in the Asia Pacific and Eastern Europe markets. Deliveries will commence in January 2023 and continue until March 2024. The company plans to launch new defense production programs annually over the coming years, enhancing its role in military vehicle propulsion solutions.
Allison Transmission (NYSE: ALSN) has been awarded the Pro Patria Award by the Indiana ESGR Committee, recognizing its exceptional support for employees serving in the National Guard and Reserve. This accolade reflects the company's commitment to veterans through various initiatives, including partnerships with local veterans' organizations and participation in career fairs. The award was presented on November 11, 2022, at the Veterans Day breakfast, highlighting Allison's ongoing support and leadership in promoting employee service.
Allison Transmission has received the 2022 National Excellence in Training 'Grand Award' from the ASE Training Manager Council for its Off-Highway Maintenance and Overhaul training program. This recognition highlights Allison's ongoing commitment to quality training for service technicians across its global network of over 1,400 dealers. The award ceremony took place on November 2, 2022, during Industry Week in Las Vegas. The program aims to enhance technician skills for diagnosing and repairing Allison's transmissions, resulting in better vehicle uptime for customers.
Allison Transmission Holdings Inc. (NYSE: ALSN) has declared a cash dividend of $0.21 per share for Q4 2022. The dividend will be paid on November 30, 2022, to stockholders on record as of November 21, 2022. Future dividends will depend on the company's financial health, operational results, and other relevant factors as determined by the Board of Directors. Known for its propulsion solutions, Allison is a leader in manufacturing fully automatic transmissions for various commercial and defense vehicles, with a presence in over 150 countries.
Allison Transmission will provide its 3000 Specialty Series™ transmission for the U.S. Army's Cold Weather All-Terrain Vehicle (CATV) program, enhancing troop mobility in extreme conditions. The Allison-equipped Beowulf vehicle, developed with BAE Systems, is designed for Arctic environments, successfully performing tasks at temperatures as low as -50°F, carrying 10,000-pound payloads, and navigating 60-degree slopes. This partnership illustrates Allison's commitment to providing reliable propulsion solutions for defense applications.
Allison Transmission Holdings Inc. (NYSE: ALSN) will have CFO Frederick Bohley present at Robert W. Baird & Co.'s 2022 Global Industrial Conference in Chicago on Wednesday, Nov. 9, at 2:20 p.m. CST. This annual event connects over 250 executives from various companies. Investors can access the webcast of the presentation on Allison's Investor Relations webpage for 90 days after the event. Founded in 1915 and headquartered in Indianapolis, Allison is the largest global manufacturer of medium- and heavy-duty fully automatic transmissions and offers various propulsion solutions.
Allison Transmission Holdings (NYSE: ALSN) reported third quarter net sales of $710 million, a 25% increase year over year, driven by strong customer demand despite supply chain challenges. Diluted EPS rose 63% to $1.45. Notable performance included record sales in Outside North America On-Highway markets, with net sales up 27%. The company repurchased $109 million of stock and paid a $0.21 dividend. 2022 guidance for net sales raised to $2.69 billion to $2.74 billion, reflecting ongoing demand and growth initiatives.
Allison Transmission has established an 80% market share in agricultural sprayer transmissions in Argentina and has expanded into Brazil. This growth aligns with Allison's strategy to achieve double-digit annual net sales growth in the Outside North America On-Highway market. The agriculture sector in Brazil represents 27% of its GDP, making it a strategic focus. Key partnerships with OEMs like Caiman and Metalfor have led to repeat orders due to the high performance of Allison's 2500 and 3000 Series™ transmissions.
Allison Transmission has been named the exclusive provider of transmissions for Xuzhou Construction Machinery Group's (XCMG) latest all-terrain cranes, marking significant growth opportunities outside North America. The partnership has thrived for over a decade, with the Allison 4970 Specialty Series™ transmission delivering outstanding performance in XCMG's cranes since its integration in July 2022. This collaboration is set to enhance productivity in infrastructure projects globally, showcasing Allison's commitment to customer-driven innovation and technology advancements.
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