Allison Transmission Hldgs Inc Stock Price, News & Analysis

Allison Transmission has partnered with BAE Systems Hägglunds to provide the new Allison 4040 MX™ propulsion solution for ongoing CV90 Infantry Fighting Vehicle (IFV) programs. Production is expected to begin in 2028. This collaboration extends Allison's medium weight offering in its cross-drive product portfolio and represents an opportunity for continued growth in Allison's Defense end market. The agreement also ensures long-term support for the existing Allison X300-equipped CV90 fleet.

The CV90 IFV, designed and manufactured in Sweden, is operated by several European countries and has recently won contracts in Slovakia and Czech Republic for approximately 400 new vehicles. This partnership strengthens Allison's position in the growing global market for defense vehicles and demonstrates their commitment to delivering innovative solutions for evolving customer needs.

Allison Transmission has announced a significant milestone, with over 10,000 Allison-equipped Hyundai Mighty vehicles sold in the last 4 years since 2020. The popularity of Allison's fully automatic transmissions in these light-duty trucks has grown substantially, now equipping 50% of all Hyundai Mightys sold, up from 10% four years ago.

The success is attributed to the Allison 1000 xFE™ fully automatic transmission, which offers improved performance, increased productivity, and enhanced driver comfort compared to manual and automated manual transmissions. Key benefits include superior launch performance, smoother shifting, and elimination of clutch replacements, resulting in reduced downtime and increased economic value.

Allison Transmission (NYSE: ALSN) will hold its second quarter 2024 earnings conference call on July 25, 2024, at 5:00 p.m. EDT. Key executives, David S. Graziosi and G. Frederick Bohley, will review the financial performance. The earnings release will be issued post-market on the same day. The conference call can be accessed via +1-877-425-9470 (domestic) or +1-201-389-0878 (international). A live webcast will be available online at ir.allisontransmission.com, with a replay accessible until August 8, 2024, using the passcode 13747609.

Allison Transmission has published its 2023 Corporate Social Responsibility (CSR) Report, highlighting its sustainability initiatives, environmental performance, social contributions, and governance practices. The report emphasizes the company's dedication to providing low-emission propulsion solutions for OEM partners and fleet customers. CEO David S. Graziosi reiterated the company's commitment to reducing emissions and addressing the unique needs of its clients. The full report is available on the company's website.

Allison Transmission Holdings (NYSE: ALSN), a leader in commercial-duty automatic transmissions and hybrid propulsion solutions, announced the appointment of G. Frederick Bohley III as the new Chief Operating Officer (COO) effective immediately. Bohley, who has been with the company since 1991, will retain his roles as Chief Financial Officer (CFO) and Treasurer. As COO, he will oversee Finance, Strategy and Business & Corporate Development, Information Systems & Services, and Operations. The company has begun searching for a new CFO to succeed Bohley. CEO David Graziosi praised Bohley's leadership and experience, expressing confidence in his capability to drive strategic growth.

Allison Ventures, the venture capital arm of Allison Transmission, announced a $10 million investment in EnerTech Capital on May 16, 2024. EnerTech Capital focuses on emerging technologies in the mobility space, including electrification, connectivity, autonomy, and digitization. This partnership aims to provide Allison with access to EnerTech's extensive network of high-tech companies and insights into new automotive technologies. EnerTech's Global Strategic Mobility Fund includes ten corporate investors, and Allison expects this collaboration to enhance its innovation pipeline and business development opportunities in the commercial mobility sector.

Allison Transmission Holdings Inc. (NYSE: ALSN) declared a cash dividend of $0.25 per share for the second quarter of 2024. The payment will be made on May 31, 2024, to stockholders of record on May 20, 2024. Future dividends will be determined based on financial position and other relevant factors.