Q2 2024 Financial Performance - Net sales increased by 4% to $816 million, driven by strength in North America On-Highway, Defense, and Outside North America On-Highway end markets[12, 16] - Gross profit increased by 3% to $394 million, due to price increases and higher net sales, partially offset by higher manufacturing expenses[12, 16] - Net income increased by 7% to $187 million, driven by higher gross profit, lower selling, general and administrative expenses, and lower net interest expense[12, 16] - Adjusted EBITDA increased by 5% to $301 million, primarily driven by higher gross profit[12, 15] - Diluted earnings per share increased by 11% to $2.13, driven by higher net income and lower total shares outstanding[12, 16] Q2 2024 Sales by End Market - North America On-Highway net sales increased by 15% to $456 million, driven by demand for Class 8 vocational vehicles and medium-duty trucks[12, 14] - Defense net sales increased by 30% to $43 million, driven by increased demand for Tracked vehicle applications[12, 14] - Outside North America On-Highway net sales increased by 4% to $128 million, driven by higher demand in Asia[12, 14] - North America Off-Highway net sales decreased by 96% to $1 million, driven by lower demand in the energy sector[14] - Service Parts, Support Equipment & Other net sales decreased by 8% to $166 million, driven by lower demand for North America service parts and aluminum die cast components[14] Cash Flow Performance - Net cash provided by operating activities increased by 21.3% to $171 million, driven by lower cash income taxes and higher gross profit[17] - Adjusted Free Cash Flow increased by 23.0% to $150 million, driven by higher net cash provided by operating activities[17] 2024 Guidance Update - The company is increasing full year 2024 net sales guidance to a range of $3,090 million to $3,170 million[19, 20] - The company is increasing full year 2024 net income guidance to a range of $650 million to $700 million[19, 20] - The company is increasing full year 2024 adjusted EBITDA guidance to a range of $1,085 million to $1,145 million[19, 20] - The company is increasing full year 2024 adjusted free cash flow guidance to a range of $590 million to $640 million[19, 20]

Allison Transmission (ALSN) came out with quarterly earnings of $2.13 per share, beating the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $1.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.41%. A quarter ago, it was expected that this automatic transmission maker would post earnings of $1.88 per share when it actually produced earnings of $1.90, delivering a surprise of 1.06%.Over the last fou ...

EXHIBIT 99.1 Allison Transmission Announces Second Quarter 2024 Results * Record quarterly net sales of $816 million, up 4% year over year * Diluted EPS of $2.13, up 11% year over year * Increasing full year 2024 revenue, earnings and cash flow guidance INDIANAPOLIS, July 25, 2024 – Allison Transmission Holdings Inc. (NYSE: ALSN), today reported second quarter net sales of $816 million, a quarterly record driven by all-time high quarterly net sales of $456 million in the North America On-Highway end market. ...

Record quarterly net sales of $816 million, up 4% year over yearDiluted EPS of $2.13, up 11% year over yearIncreasing full year 2024 revenue, earnings and cash flow guidanceINDIANAPOLIS, July 25, 2024 /PRNewswire/ -- Allison Transmission Holdings Inc. (NYSE: ALSN), today reported second quarter net sales of $816 million, a quarterly record driven by all-time high quarterly net sales of $456 million in the North America On-Highway end market.David S. Graziosi, Chair and Chief Executive Officer of Allison Tra ...

INDIANAPOLIS, July 24, 2024 /PRNewswire/ -- Allison Transmission has partnered with Cummins to test and validate the new Cummins X15N 15-liter natural gas engine paired with the Allison 4000 SeriesTM fully automatic transmission. Sandman, a bulk cement hauling fleet based in San Jose, California, has successfully completed over 50,000 miles of vehicle testing in the field and reports significant improvements in fuel efficiency and performance. The test vehicle, a Peterbilt tractor pulling double trailers of ...

Through its partnership with Element Technical Services, the next-generation purpose-built Allison hydraulic fracturing transmission is in operation in Canadian oil fields.INDIANAPOLIS, July 23, 2024 /PRNewswire/ -- Allison Transmission has partnered with Element Technical Services, an industry-leading pressure pumping services company serving the Williston Basin, Powder River Basin and Western Canadian Sedimentary Basin, to field Allison's FracTran® in Canada for the first time. FracTran entered production ...

Core Insights - Allison Transmission has established a strategic partnership with Lingong Heavy Machinery Co. Ltd. (LGMG) to enhance the development of mining vehicles globally [1][2] - The partnership features the integration of Allison 6625 Wide Body Dump Series™ (WBD) transmissions into LGMG's 136T wide body mining dump trucks, marking the first use of Allison's fully automatic transmission in this vehicle category [1][2] - The collaboration aims to improve vehicle performance in harsh mining conditions, with Allison transmissions noted for their low failure rates, durability, and efficiency [2][3] Company Overview - Allison Transmission is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles, recognized as the largest global manufacturer of medium- and heavy-duty fully automatic transmissions [4] - The company operates in over 150 countries and has regional headquarters in the Netherlands, China, and Brazil, along with manufacturing facilities in the USA, Hungary, and India [4] - Founded in 1915 and headquartered in Indianapolis, Indiana, Allison has a significant presence in various applications, including on-highway trucks, buses, off-highway vehicles, and defense vehicles [4]

Allison Transmission Holdings, Inc. (ALSN) has signed a contract with BAE Systems Hagglunds, a prominent European producer of tracked combat vehicles, to supply the new Allison 4040 MX propulsion system for the ongoing CV90 Infantry Fighting Vehicle (IFV) programs, with production expected to commence in 2028. The 4040 MX, an upgraded version of the 3040 MX cross-drive transmission used in the U.S. Army's M10 Booker Combat Vehicle, expands Allison's medium-weight product line.This agreement continues a long ...

New Allison 4040 MX™ cross-drive transmission to equip the CV90 Mk IV infantry fighting vehicle.INDIANAPOLIS, July 17, 2024 /PRNewswire/ -- Allison Transmission has signed a contract with BAE Systems Hägglunds, one of Europe's most successful producers of tracked combat vehicles, to provide the new Allison 4040 MX™ propulsion solution for ongoing CV90 Infantry Fighting Vehicle (IFV) programs with production expected to begin in 2028. The 4040 MX extends Allison's medium weight offering in its cross-drive pr ...

Core Insights - Allison Transmission has released its 2023 Corporate Social Responsibility Report, highlighting its commitment to sustainability, environmental performance, social impacts, and governance practices [1] Company Overview - Allison Transmission is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles, and is the largest global manufacturer of medium- and heavy-duty fully automatic transmissions [2] - The company was founded in 1915 and is headquartered in Indianapolis, Indiana, with a presence in over 150 countries and regional headquarters in the Netherlands, China, and Brazil [2] - Allison operates manufacturing facilities in the USA, Hungary, and India, and has approximately 1,600 independent distributor and dealer locations worldwide [2]