Allison Transmission Hldgs Inc Stock Price, News & Analysis

Allison Transmission Holdings (NYSE: ALSN) has declared a cash dividend of $0.19 per share for Q3 2021, payable on August 27, 2021 to stockholders on record as of August 16, 2021. Future dividends will be determined by the Board based on the company's financial health, cash flow, and other relevant factors. Allison specializes in automatic transmissions and electrified propulsion systems, serving diverse applications in commercial and defense vehicles across over 150 countries.

Allison Transmission has appointed JK Pareek as the new Vice President of Information Systems and Services (IS&S) and Chief Information Officer. Pareek will spearhead the development and implementation of IT strategies aligned with business objectives while ensuring security and optimal ROI. He previously served as CIO for Nidec Motor Corporation and has extensive IT leadership experience at SunEdison, MEMC, and Texas Instruments. Allison Transmission, a leader in vehicle propulsion solutions, operates globally with facilities in the USA, Hungary, and India.

Allison Transmission Holdings reported a 60% increase in net sales for Q2 2021, totaling $603 million, driven by a recovery in customer demand across various markets. North America On-Highway sales rose by 84%, while Outside North America On-Highway saw a 63% increase. Net income surged to $110 million with diluted EPS at $1.01. Adjusted EBITDA reached $213 million, up 85% year-over-year. The company reaffirmed its full-year guidance amid ongoing global supply challenges. Share repurchases amounted to $130 million, representing 3% of outstanding shares.

Allison Transmission has announced the launch of the TerraTran, a new propulsion solution designed for the construction and mining markets. This product is a variant of the proven 4000 Series transmission, offering enhanced horsepower of up to 800 and torque capability of 3,025 lbs./ft.. TerraTran features seven forward and two reverse speeds, enhancing productivity and efficiency. The initial application will be in partnership with Xuzhou Construction Machinery Group for their all-terrain cranes. This collaboration emphasizes Allison's commitment to leveraging over 65 years of industry experience.

Allison Transmission Holdings Inc. (NYSE: ALSN) will announce its second quarter 2021 financial results in a conference call scheduled for July 29 at 8:00 a.m. ET. CEO David S. Graziosi and CFO G. Frederick Bohley will discuss the company's performance. The results will be released post-market on July 28. The conference call can be accessed via phone or through a live webcast. A replay will also be available from July 29 till August 5. Allison is a leader in vehicle propulsion solutions, with a strong global presence and a diverse range of products.

Allison Transmission, in collaboration with Cummins and GILLIG, has delivered 24 electric hybrid buses to IndyGo, enhancing public transport in Indianapolis. The H 40 EP^TM system improves fuel consumption by up to 25% compared to diesel buses, while the upcoming eGen Flex™ system will enable full electric operation for up to 10 miles. This initiative aligns with IndyGo's goal of achieving a near-zero emission fleet, reducing CO₂ emissions, and enhancing passenger experiences.

Allison Transmission has unveiled the FracTran, a new hydraulic fracturing transmission designed specifically for the fracturing industry. With a rating of 3,300 horsepower and 10,000 lb.-ft. of input torque, it can reach 3,500 horsepower without hardware changes. The FracTran promises high reliability, with a service life of up to 25,000 hours and reduced ownership costs. Supported by over 1,400 service centers, Allison aims to meet evolving industry demands while promoting sustainability and profitability. Production is set to begin in 2023.

Allison Transmission received the Legacy Award from the American Lung Association in Indiana during the Evening of Promise Gala. This award recognizes Allison's commitment to creating a healthy work environment and producing innovative, eco-friendly solutions. Over the past three years, the company has invested $250 million in electric hybrid and fully electric propulsion technologies, reducing over 3.4 million metric tons of CO₂ emissions. Their eGen Flex^TM system offers up to 10 miles of electric range, contributing significantly to fuel efficiency and cleaner air.

Randall R. Kirk, Senior VP of Product Engineering & Planning at Allison Transmission (NYSE: ALSN), is retiring on August 6, 2021, after 45 years of service. Kirk played a critical role in product innovation and development, significantly contributing to Allison's growth in on-highway, off-highway, and defense markets. He led initiatives that enhanced the company's product portfolio and spearheaded investments in advanced technology facilities to improve product development. His leadership has been pivotal in positioning Allison for future success.