Exhibit 99.1

 

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Allison Transmission Announces First Quarter 2017 Results

 

    Net Sales $499 million, Net Income $83 million, Adjusted EBITDA $192 million, Net Cash Provided by Operating Activities $111 million, Adjusted Free Cash Flow $103 million

INDIANAPOLIS, April 26, 2017 – Allison Transmission Holdings Inc. (NYSE: ALSN)

, the largest global provider of commercial duty fully-automatic transmissions, today reported net sales for the first quarter of $499 million, an 8 percent increase from the same period in 2016. The increase in net sales was principally driven by higher demand in the Service Parts, Support Equipment & Other end market.

Net Income for the quarter was $83 million compared to $48 million for the same period in 2016. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $192 million, or 38.5 percent of net sales, compared to $162 million, or 35.1 percent of net sales, for the same period in 2016. Net Cash Provided by Operating Activities for the quarter was $111 million compared to $118 million for the same period in 2016. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $103 million compared to $113 million for the same period in 2016.

Lawrence E. Dewey, Chairman and Chief Executive Officer of Allison Transmission commented, “Allison’s first quarter 2017 results exceeded the full year guidance ranges we provided to the market on February 6 principally driven by stronger than anticipated demand for North America service parts. Allison demonstrated solid operating margins and free cash flow while executing its well-defined approach to capital structure and allocation. During the first quarter, we settled $415 million of share repurchases and paid a dividend of $0.15 per share. Given first quarter 2017 results and current end markets conditions we are updating our full year net sales guidance to an increase in the range of 7.5 to 10.5 percent.”

First Quarter Net Sales by End Market

 

End Market

   Q1 2017
Net Sales
($M)
     Q1 2016
Net Sales
($M)
     % Variance  

North America On-Highway

     255        257        (1 %) 

North America Hybrid-Propulsion Systems for Transit Bus

     20        17        18

North America Off-Highway

     1        5        (80 %) 

Defense

     27        25        8

Outside North America On-Highway

     72        70        3

Outside North America Off-Highway

     6        3        100

Service Parts, Support Equipment & Other

     118        85        39

Total Net Sales

     499        462        8

First Quarter Highlights

North America On-Highway end market net sales were down 1 percent from the same period in 2016 principally driven by lower demand for Highway Series and Rugged Duty Series models partially offset by higher demand in Pupil Transport/Shuttle and Transit/Other Bus models and up 18 percent on a sequential basis principally driven by higher demand for Rugged Duty Series, Pupil Transport/Shuttle Series and Transit/Other Bus models.

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Wednesday, April 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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