Allison Transmission (NYSE: ALSN) reported Q1 EPS of $1.07, $0.11 better than the analyst estimate of $0.96. Revenue for the quarter came in at $588 million versus the consensus estimate of $588.41 million.

David S. Graziosi, President and Chief Executive Officer of Allison Transmission commented, “I would like to once again express my deep gratitude to Allison’s employees, customers, suppliers and communities for their continued dedication and resilience during this critical period. Despite the severe disruptions to global supply chains that are currently impacting our end markets, customer demand is improving and the Allison team continues its tireless efforts to fulfill the Allison promise. I am extremely proud of Allison’s extended family and the commitment demonstrated every day.”

Graziosi continued, “Thanks to improving customer demand and a resilient outlook, we are increasing our full year 2021 net sales guidance from a range of $2,265 to $2,415 million to $2,325 to $2,475 million. We also continue to fund significant investments in engineering – research and development and capital expenditures to further position Allison to capitalize on meaningful growth opportunities across all of our end markets. And finally during the first quarter, we continued our well-defined approach to capital allocation by settling approximately $96 million of share repurchases, or over 2 percent of outstanding shares, and increased the quarterly dividend from $0.17 to $0.19 per share.”

GUIDANCE:

Allison Transmission sees FY2021 revenue of $2.325-2.475 million, versus the consensus of $2.37 million.

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