Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) is reporting third-quarter net income of $77 million, compared to $149 million during the same period a year ago.
The company says the decrease was principally driven by a 20% drop in net sales year over year. However, Allison says net sales compared to Q2 are up 41%.
“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,” said David Graziosi, president and chief executive officer of Allison Transmission.
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