Exhibit 99.1

 

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Allison Transmission Announces Fourth Quarter and Full Year 2017 Results

Fourth Quarter 2017:

 

    Net Sales $588 million, Net Income $215 million, Adjusted EBITDA $210 million, Net Cash Provided by Operating Activities $166 million, Adjusted Free Cash Flow $115 million

Full Year 2017:

 

    Net Sales $2,262 million, Net Income $504 million, Adjusted EBITDA $868 million, Net Cash Provided by Operating Activities $658 million, Adjusted Free Cash Flow $567 million

INDIANAPOLIS, February 14, 2018 – Allison Transmission Holdings Inc. (NYSE: ALSN)

, the largest global provider of commercial duty fully-automatic transmissions, today reported net sales for the fourth quarter of $588 million, a 25 percent increase from the same period in 2016. The increase in net sales was principally driven by higher demand in the North America On-Highway, Service Parts, Support Equipment & Other, North America Off-Highway and Outside North America On-Highway end markets.

Net Income for the quarter was $215 million compared to $61 million for the same period in 2016. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $210 million, or 35.7 percent of net sales, compared to $158 million, or 33.8 percent of net sales, for the same period in 2016. Net Cash Provided by Operating Activities for the quarter was $166 million compared to $175 million for the same period in 2016. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $115 million compared to $145 million for the same period in 2016.

Lawrence E. Dewey, Chairman and Chief Executive Officer of Allison Transmission commented, “2017 was a noteworthy year at Allison. Full year results exceeded our initial Net Sales guidance ranges across all of our end markets. Furthermore, Allison achieved record levels of Net Sales, Gross Margin and Net Cash Provided by Operating Activities, and realized its second consecutive year of double digit growth in the Outside North America On-Highway end market. Dewey continued, “Throughout the year, we continued our well-defined approach to capital structure and allocation. During the fourth quarter, we paid a dividend of $0.15 per share and settled $106 million of share repurchases, resulting in $885 million of total share repurchases in 2017.”

Fourth Quarter Net Sales by End Market

 

End Market

   Q4 2017
Net Sales
($M)
     Q4 2016
Net Sales
($M)
     % Variance  

North America On-Highway

     270        217        24

North America Electric Hybrid-Propulsion Systems for Transit Bus

     17        20        (15 %) 

North America Off-Highway

     28        0        NA  

Defense

     25        37        (32 %) 

Outside North America On-Highway

     98        83        18

Outside North America Off-Highway

     11        4        175

Service Parts, Support Equipment & Other

     139        108        29

Total Net Sales

     588        469        25

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Wednesday, February 14, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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