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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, in collaboration with Cummins and GILLIG, has delivered 24 electric hybrid buses to IndyGo, enhancing public transport in Indianapolis. The H 40 EPTM 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 FlexTM 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.
Allison Transmission announces its collaboration with Caterpillar Defense, FNSS, and PT Pindad for the production of the Harimau medium tank for the Indonesian Armed Forces. With plans to manufacture 200 to 400 units, the Harimau is designed for Asia's challenging terrains, enhancing Indonesia's mechanized forces. This initiative is part of Indonesia's modernization efforts and utilizes Allison's advanced cross-drive transmission technology. The company emphasizes its commitment to providing reliable propulsion systems for defense vehicles worldwide, as it continues to support global military requirements.
Allison Transmission Holdings has declared a cash dividend of $0.19 per share for Q2 2021, payable on May 28, 2021. This dividend will benefit shareholders of record as of May 17, 2021. Future dividends will depend on the company's financial health and operational results. Allison Transmission is a leading manufacturer of automatic transmissions for commercial and defense vehicles, with operations in over 80 countries.
Allison Transmission Holdings reported Q1 2021 net sales of $588 million, an 8% decrease year-over-year but a 10% increase from Q4 2020. The net income for the quarter was $120 million, a decline from $139 million in Q1 2020. Diluted EPS was $1.07, with Adjusted EBITDA at $222 million. The company raised its 2021 net sales guidance to $2,325-$2,475 million, citing improved customer demand and planned investments in R&D. Gross profit fell to $291 million, indicating a decrease due to lower net sales and material costs.
Allison Transmission is set to feature on Military Makeover Operation Career on Lifetime TV, highlighting its commitment to supporting military veterans transitioning to civilian life. The episodes, airing on April 29 and May 7, showcase the success stories of veterans employed at Allison, a company with a longstanding history of partnership with the U.S. military. The recruitment initiative aims to create job opportunities for around 200,000 service members each year, leveraging their unique skills within the company.
Allison Transmission and Cummins have received annual certification from the California Air Resources Board for the 2021 Allison Hybrid 40/50 Electric Propulsion system with Cummins B6.7 and L9 diesel-electric hybrid engines. The certification is vital for compliance in transit buses, enhancing eco-friendliness by reducing emissions and improving fuel economy by up to 25%. Notably, the H 40/50 EP system includes a regenerative braking feature that can lengthen brake change intervals by 350%, lowering maintenance costs. The companies aim to focus on 2022 certification for the eGen Flex electric hybrid propulsion solution.
Allison Transmission and Emergency One (UK) Ltd have entered a strategic Memorandum of Understanding to integrate the Allison eGen Power™ 100D electric axle into Emergency One’s fire rescue vehicles. This collaboration builds on their existing relationship, with 90% of Emergency One's units already equipped with Allison’s automatic transmissions. The eGen Power 100D offers 536 continuous horsepower and a peak of 738 horsepower, enhancing vehicle performance and safety while reducing emissions. This partnership aims to deliver reliable electric solutions meeting and exceeding operational standards.