Allison Transmission (ALSN) Tops Q3 EPS by 14c

Allison Transmission (NYSE: ALSN) reported Q3 EPS of $0.68, $0.14 better than the analyst estimate of $0.54. Revenue for the quarter came in at $532 million versus the consensus estimate of $473.32 million.

David S. Graziosi, President and Chief Executive Officer of Allison Transmission commented, “Despite the challenges presented by the pandemic, third quarter results improved significantly, as customer demand and the global economy continued to recover, following the severe disruptions experienced in the second quarter. Furthermore, the commitment, dedication and resilience of Allison’s employees, customers and suppliers have enabled the uninterrupted delivery of our products, and the continued generation of earnings and positive cash flow.”

Graziosi continued, “We will continue to prioritize the health and well-being of Allison’s extended family and align our operations, programs and spending with current end market conditions, while mitigating the risks that we anticipate will persist for the foreseeable future and maintaining the flexibility to respond quickly and appropriately. During the third quarter, we settled $16 million in share repurchases and paid a dividend of $0.17 per share. Allison remains well capitalized and positioned to realize future growth opportunities, due to our long-standing commitment to prudent balance sheet management, ample liquidity and profitable operations.”

GUIDANCE:

Allison Transmission sees FY2020 revenue of $2.025-2.075 billion, versus the consensus of $2 billion.

For earnings history and earnings-related data on Allison Transmission (ALSN) click here.

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