Welcome to our dedicated page for Allison Transmission Hldgs news (Ticker: ALSN), a resource for investors and traders seeking the latest updates and insights on Allison Transmission Hldgs stock.
Allison Transmission Holdings, Inc. reports news on high-performance mobility and work solutions for commercial, off-highway and defense applications. The company manufactures fully automatic transmissions and related drive and motion systems used across transportation, infrastructure, mining, energy, agriculture, construction and national security markets.
Recurring Allison news includes quarterly and annual earnings, demand by end market, dividend and share-repurchase actions, product integrations with commercial vehicle manufacturers, and updates tied to its Allison Transmission and Allison Off-Highway Drive & Motion Systems business units. Following the completed acquisition of Dana's Off-Highway business, company updates also address integration, segment reporting and the expanded off-highway product portfolio.
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.
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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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