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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 reported net sales of $567 million for Q3 2021, a 7% increase year-over-year. Net income rose to $94 million, with a diluted EPS of $0.89, up 31% year-over-year. The growth is attributed to strong demand in international on-highway markets and improved North America off-highway sales. However, the company faces ongoing global supply chain challenges. Adjusted EBITDA was $189 million, and they expect net sales for 2021 to range from $2,325 to $2,400 million.
Allison Transmission announced the delivery of over 150 King Long compressed natural gas (CNG) city buses to Guadalajara, Mexico. The buses, featuring Allison's fully automatic transmissions, are designed for the city's challenging road conditions. They will help reduce NOx emissions by approximately 10,000 pounds annually, equivalent to 5,000 passenger cars off the road. The move supports the Guadalajara Municipality's initiative for sustainable public transport alternatives with lower operating costs and noise levels compared to diesel vehicles.
Allison Transmission has announced a significant upgrade of FuelSense® 2.0 software to 493 trucks operated by Biffa, a UK waste management company. This upgrade, which follows a successful six-month trial demonstrating up to 9% fuel savings, is projected to cut CO2 emissions by 1.6 million kilograms annually and reduce diesel costs by over £600,000 each year. The financial return on this investment is expected within four months. This order is the largest of its kind in the Europe, Middle East, and Africa region.
Allison Transmission (NYSE: ALSN) announced a strategic investment of ¥264 million CNY (approx. $42 million USD) in Jing-Jin Electric (JJE) as part of JJE's IPO on the Shanghai Stock Exchange. This investment follows a partnership aimed at enhancing electric vehicle propulsion systems. Allison's CEO, David Graziosi, emphasized the importance of this investment in supporting the commercial electric vehicle sector. JJE's Chairman expressed confidence in the collaboration, which seeks to innovate electric propulsion solutions for global commercial vehicle manufacturers.
Allison Transmission has partnered with Zhongtong Bus Holding Co., Ltd. to deliver 211 compressed natural gas (CNG) city buses equipped with Allison T270R transmissions to Yerevan, Armenia. This initiative aims to enhance public transportation by providing greener, quieter, and more efficient travel solutions. The new buses feature advanced technology for improved fuel economy and reduced emissions, designed specifically for urban traffic challenges. This long-standing partnership highlights Allison's commitment to innovation and sustainability in vehicle propulsion.
Allison Transmission Holdings Inc. (NYSE: ALSN) has rescheduled its third quarter 2021 financial results conference call to 5:00 p.m. ET on October 27, moving it from the previously scheduled 8:00 a.m. ET on October 28. CEO David S. Graziosi and CFO G. Frederick Bohley will discuss the company's financial performance. The results will be released post-market on October 27.
The conference call can be accessed via phone or a live webcast. A replay will be available from 8:00 p.m. ET on October 27 until November 3.
Allison Transmission Holdings Inc. (NYSE: ALSN) will hold its third quarter 2021 financial results conference call at 8:00 a.m. ET on Thursday, October 28. CEO David S. Graziosi and CFO G. Frederick Bohley will discuss the company's performance. The financial results will be announced post-market on October 27. A live webcast will be available on their website, with a replay accessible from 11:00 a.m. ET on October 28 until November 4. Allison is a leader in vehicle propulsion solutions, specializing in automatic transmissions for commercial and defense vehicles.
Allison Transmission is advancing the development of electrified transmission technologies for the U.S. Army combat vehicle fleet. This initiative is fueled by increasing government investment in defense electrification, promising benefits such as silent mobility and enhanced survivability. The Next Generation Electrified Transmission aims to power the Army's Optionally Manned Fighting Vehicle (OMFV), with a potential procurement of nearly 4,000 units. Additionally, the Transmission Integral Generator has shown significant testing success and is enhancing the company’s defense applications.
Allison Transmission (NYSE: ALSN) has successfully completed a community service project in Indianapolis, partnering with the Fuller Center for Housing. This initiative involved 170 volunteers contributing over 20,000 hours to help a local family achieve home ownership. In addition to volunteer work, Allison made a $25,000 donation to support this cause. The dedication ceremony took place on October 1, where the family received the keys to their new home. Allison has been collaborating with the Fuller Center since 2010, emphasizing its commitment to community service.
Allison Transmission has partnered with SAIC Hongyan Automotive to integrate the eGen Power 130D electric axle into regional and long haul tractors. This strategic Memorandum of Understanding (MoU) signifies a major step towards electrifying commercial vehicles in China. The eGen Power 130D boasts a continuous power of 424 kW and peak output of 648 kW, designed for 13-tonne rated axles. This collaboration builds on their ongoing relationship, enhancing Allison's position in the market.