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 Holdings (NYSE: ALSN) reported Q3 2020 net sales of $532 million, down 20% from Q3 2019 but up 41% sequentially. Net income for the quarter was $77 million, significantly lower than $149 million in Q3 2019. Adjusted EBITDA was $174 million, a decrease of 35% year-over-year. The company expects 2020 net sales between $2,025 and $2,075 million, reflecting ongoing demand challenges due to the pandemic. Despite these pressures, Allison remains committed to prudent financial management and growth opportunities.
Allison Transmission is a key participant in the U.S. Army’s combat vehicle modernization, particularly in the Mobile Protected Firepower (MPF) program. The Army plans to procure over 500 MPF vehicles over the next decade, with both competing manufacturers opting for Allison’s 3040 MX cross-drive transmission. This transmission is pivotal in enhancing the combat capabilities of light brigades, addressing a gap in their ability to confront armored threats. Allison aims to support the military's needs while collaborating internationally for similar propulsion solutions.
Allison Transmission Holdings Inc. (NYSE: ALSN) announced a conference call scheduled for 8:00 a.m. ET on October 29, 2020, to discuss its third quarter financial results. CEO David S. Graziosi and CFO G. Frederick Bohley will present the performance overview. The results will be released post-market on October 28. Interested parties can join via phone at 1-877-425-9470 or through a live webcast on the company's investor relations website. A replay will be available from October 29 to November 5.
Allison Transmission has welcomed Lorraine Parker-Clegg as Chief People Officer, effective October 5, 2020. She brings significant experience from her previous position as Chief Human Resources Officer at Doncasters Group Ltd. Parker-Clegg has held key HR roles across various companies, including Medtronic and Bristol-Myers Squibb, focusing on global workforce planning and inclusive culture. Her expertise will support Allison’s global growth strategy, enhancing their commitment to quality and innovation in the manufacturing sector.
Allison Transmission has launched eGen Power, a series of fully integrated zero emission electric axles, enhancing its eGen portfolio. The first product, eGen Power 100D, supports a 23,000 lb GAWR and features advanced dual electric motors generating up to 400 kW of continuous power, with a peak of 550 kW. Manufactured in Auburn Hills, Michigan, this product integrates a two-speed transmission for improved efficiency. Hino Trucks has partnered with Allison to integrate the eGen Power 100D into their upcoming zero-emission vehicles, highlighting Allison's commitment to providing reliable propulsion solutions.
Allison Transmission and Leonardo DRS received the 2020 Technology Innovators Award from Military & Aerospace Electronics for their collaboration on the TITAN On Board Vehicle Power (OBVP) system. This system integrates a generator within the Allison 3200 Specialty Series transmission, enhancing agility and reducing logistics by eliminating the need for separate generator trailers. The OBVP can generate up to 120 kW while stationary and 55 kW during movement, catering to the increasing power demands of modern military vehicles.
Allison Transmission has introduced a new transmission fluid, TES 668™, specifically designed for its 1000, 2000, 3000, and 4000 Series automatic transmissions. This advanced formulation offers significant benefits over traditional mineral-based fluids, including improved oxidative stability, anti-wear performance, and reduced noise and vibration. TES 668 supports long drain intervals under heavy loads and is essential for maintaining product durability. Allison is working on additional approvals for various oil marketers, with updates available on their website.