Allison Transmission Q 3 Results Up

Allison Transmission Holdings Inc. (NYSE: ALSN), the largest global provider of commercial duty fully-automatic transmissions,  reported net sales for the third quarter of $692 million, a 16 percent increase from the same period in 2017. The increase in net sales was principally driven by higher demand in the Global On-Highway Outside North America Off-Highway and Service Parts, Support Equipment & Other end markets.

Net Income for the quarter was $167 million compared to $111 million for the same period in 2017. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $295 million compared to $241 million for the same period in 2017. Net Cash Provided by Operating Activities for the quarter was $239 million compared to $215 million for the same period in 2017. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $216 million compared to $195 million for the same period in 2017.

David S. Graziosi, President and Chief Executive Officer of Allison Transmission commented, “I am pleased to report that third quarter 2018 net sales growth exceeded our expectations and the guidance ranges provided to the market on July 30, and 2018 is on track to be a record year.” Graziosi continued, “Year-over-year net sales growth of 16 percent was surpassed once again, by even stronger growth in Net Income, up 50 percent, Diluted EPS, up 69 percent and Adjusted EBITDA, up 22 percent. Also during the quarter, we continued to execute our well-defined approach to capital structure and allocation by settling $86 million of share repurchases and paying a dividend of $0.15 per share. Given third quarter 2018 results and current end markets conditions, we are raising our full year 2018 net sales guidance from an increase in the range of 15 to 18 percent to an increase in the range of 18 to 19 percent.”

Category: General Update, News