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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 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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Allison Transmission announced that Jackie Bolles has been appointed as Executive Director of Treasury and Investor Relations, effective October 17. Bolles brings over a decade of experience at Allison, where she previously served as executive director, deputy general counsel, and chief compliance officer. In her new role, she will manage investor relations and oversee cash management and forecasting activities, strengthening the company's financial strategies and communications with stakeholders.
Allison Transmission (NYSE: ALSN) has launched the eGen Force™ electric hybrid propulsion system for tracked combat vehicles, specifically designed for the U.S. Army’s Optionally Manned Fighting Vehicle (OMFV) program. This system is suitable for 50-ton vehicles and scalable to 70 tons for future Main Battle Tank needs. It integrates an electric motor and inverter for enhanced mobility and soldier survivability. With established components from the Abrams Main Battle Tank, the eGen Force demonstrates a high efficiency range and significant electrical power generation. Testing is set to progress in 2023.
Allison Transmission Holdings (NYSE: ALSN) will hold its third quarter 2022 financial results conference call on October 26, 2022 at 5:00 p.m. EDT. CEO David S. Graziosi and CFO G. Frederick Bohley will discuss the company’s performance. Financial results will be released post-market on the same day. Investors can dial in at 1-877-425-9470 or access a live webcast at ir.allisontransmission.com. A replay will be available from 8:00 p.m. EDT on October 26 until 11:59 p.m. EDT on November 2.
Allison Transmission (NYSE: ALSN) announced the introduction of the Isuzu FVR 18.5T truck, which is equipped with the Allison 3000 Series™ 6-speed fully automatic transmission. This new medium-duty truck was launched in Taiwan, aimed at enhancing pickup and delivery capabilities in urban environments. Designed for compliance with Euro 6 emission standards, the FVR 18.5T features multiple wheelbase options, improved fuel efficiency, and offers flexibility for various utility applications. The collaboration is expected to provide significant economic value to fleet operators in Taiwan.
Allison Transmission has unveiled the eGen Power® 130S at IAA Transportation in Hanover, Germany. This new fully electric axle is designed for commercial vehicles in Europe and Asia Pacific, supporting a 13-ton gross axle weight rating. Key features include a single motor producing 225 kilowatts of continuous power, a peak of 325 kilowatts, and 26,000 newton meters of torque. The 130S features a two-speed gear architecture and 100% regenerative braking. This launch expands Allison's eGen Power family aimed at meeting diverse customer demands in the electrification landscape.