Exhibit 99.1

 

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Allison Transmission Announces Second Quarter 2017 Results

 

    Net Sales $580 million, Net Income $95 million, Adjusted EBITDA $225 million, Net Cash Provided by Operating Activities $166 million, Adjusted Free Cash Flow $154 million

INDIANAPOLIS, July 31, 2017 – Allison Transmission Holdings Inc. (NYSE: ALSN)

, the largest global provider of commercial duty fully-automatic transmissions, today reported net sales for the second quarter of $580 million, a 22 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 and Global On-Highway end markets.

Net Income for the quarter was $95 million compared to $61 million for the same period in 2016. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $225 million, or 38.8 percent of net sales, compared to $173 million, or 36.5 percent of net sales, for the same period in 2016. Net Cash Provided by Operating Activities for the quarter was $166 million compared to $170 million for the same period in 2016. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $154 million compared to $157 million for the same period in 2016.

Lawrence E. Dewey, Chairman and Chief Executive Officer of Allison Transmission commented, “Allison’s second quarter 2017 results exceeded the full year guidance ranges we provided to the market on April 26 principally driven by stronger than anticipated demand for North America service parts and North America On-Highway products. Allison demonstrated solid operating margins and free cash flow while executing its well-defined approach to capital structure and allocation. During the second quarter, we settled $124 million of share repurchases and paid a dividend of $0.15 per share. Given second quarter 2017 results and current end markets conditions, we are updating our full year 2017 net sales guidance to an increase in the range of 15 to 17 percent.”

Second Quarter Net Sales by End Market

 

End Market

   Q2 2017
Net Sales
($M)
     Q2 2016
Net Sales
($M)
     % Variance  

North America On-Highway

   $ 299      $ 264        13

North America Hybrid-Propulsion Systems for Transit Bus

   $ 15      $ 16        (6 %) 

North America Off-Highway

   $ 5      $ 1        400

Defense

   $ 30      $ 28        7

Outside North America On-Highway

   $ 85      $ 74        15

Outside North America Off-Highway

   $ 10      $ 3        233

Service Parts, Support Equipment & Other

   $ 136      $ 89        53

Total Net Sales

   $ 580      $ 475        22

Second Quarter Highlights

North America On-Highway end market net sales were up 13 percent from the same period in 2016 principally driven by higher demand for Rugged Duty Series, Highway Series and Transit/Other Bus models partially offset by lower demand in Pupil Transport/Shuttle models and up 17 percent on a sequential basis principally driven by higher demand for Rugged Duty Series, Highway Series and Pupil Transport/Shuttle models.

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Monday, July 31, 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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