Allison Nearly Doubles Quarterly Profit

Posted: Updated:
(Image courtesy of Allison Transmission.) (Image courtesy of Allison Transmission.)
INDIANAPOLIS -

Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) is reporting first quarter net income of $151 million, compared to $83 million in the same period a year earlier. The performance was driven by a 33 percent increase in net sales to $663 million.

Chief Executive Officer Larry Dewey says demand for global on-highway, service parts, support equipment and global off-highway markets exceeded expectations. "We also continued our well-defined approach to capital structure and allocation. During the quarter, Allison settled $125 million of share repurchases, paid a dividend of $0.15 per share and completed a re-pricing of its $1,176 million term loan debt due September 2022," Dewey said. "Given first quarter 2018 results and current end markets conditions, we are raising our full year 2018 net sales guidance from an increase in the range of 3 to 7 percent to an increase in the range of 10 to 14 percent."

Full-year net income guidance has also been increased to the range of $515 to $550 million. The company also expects continued high demand in the global on-highway and global off-highway segments to help drive sales growth in the second quarter.

You can connect to the company's full quarterly earnings report by clicking here.

  • Perspectives

    • Three Ways to Stand Out In a Competitive Hospitality Market

      For many business leaders in the Indianapolis area, it can be difficult to differentiate your brand from competitors. Indianapolis is booming, and we're in an era where consumers have access to countless choices! That's why it's more important than ever for brands to provide consumers with compelling reasons to spend their hard-earned money on their product or services.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Walmart Details Crawfordsville Layoffs

      Walmart Inc. (NYSE: WMT) is reducing workforce at the Walmart Optical Lab in Crawfordsville. In a notice to the state, the company said 108 employees will be out of work by the end of September. A corporate spokeswoman told Inside INdiana Business the decision was a response to "changing business needs." She added "we are making adjustments at our Walmart Optical Labs in Crawfordsville to help ensure we have the right people in the right place at the right time."

    • Brown County Aims to 'Buck' Rural Flight

      The Maple Leaf Performing Arts Center isn't the only big ticket project making progress in Nashville. Town Manager Scott Rudd says some $40 million in projects designed to the boost the quality of life for locals and visitors alike are in the works in the tourism-focused community. The owners of Big Woods and Quaff On breweries are just days away from the grand opening of the multi-million-dollar Hard Truth Hills attraction in Brown County, which covers 325 acres and includes...

    • Officials broke ground on the project more than two years ago.

      Steel Producer to Open Shelbyville Plant

      Governor Eric Holcomb will Wednesday join executives from Nippon Steel & Sumikin Cold Heading Wire Indiana Inc. to cut the ribbon on the company's 150,000-square-foot facility in Shelbyville. The $50 million project is expected to create up to 70 jobs by 2021.

    • Schellinger says, since 2014, aerospace firms have announced more than $900 million in Indiana investment.

      Hoosier Aero Strength on Display in UK

      For the fourth straight year, Indiana has a delegation at one of the largest aerospace events in the world. Secretary of Commerce Jim Schellinger says attending the Farnborough Air Show in the United Kingdom connects the state to global leaders in aerospace, defense and aviation. He says the growing industries are targets for Indiana in part because those jobs pay well above Indiana's average wage. Schellinger is also meeting with several UK companies this week before traveling to...

    • Tech Apprenticeship Company Scores $4.2M

      Kenzie Academy Inc., a technology industry apprenticeship program that has its first campus in Indianapolis, has received a $4.2 million seed round of funding. The company uses what it calls a "college-alternative" model that involves a year of immersive learning and a year of paid work at its consulting subsidiary, Kenzie Studio. Kenzie Academy says the investment, led by New York-based ReThink Education and supported by...