Exhibit 99.1

 

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Allison Transmission Announces First Quarter 2018 Results

 

    Net Sales for the first quarter 2018 of $663 million, up 33% compared to $499 million for the same period in 2017

INDIANAPOLIS, April 30, 2018 – 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 $663 million, a 33 percent increase from the same period in 2017. The increase in net sales was principally driven by higher demand in the Global On-Highway, Service Parts, Support Equipment & Other and Global Off-Highway end markets.

Net Income for the quarter was $151 million compared to $83 million for the same period in 2017. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $275 million compared to $192 million for the same period in 2017. Net Cash Provided by Operating Activities for the quarter was $153 million compared to $111 million for the same period in 2017. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $143 million compared to $103 million for the same period in 2017.

Lawrence E. Dewey, Chairman and Chief Executive Officer of Allison Transmission commented, “Allison’s first quarter 2018 Net Sales increased 33 percent from the same period in 2017, principally driven by stronger than anticipated demand in the Global On-Highway, Service Parts, Support Equipment & Other and Global Off-Highway end markets.” Dewey continued, “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. 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.”

First Quarter Net Sales by End Market

 

End Market

   Q1 2018
Net Sales
($M)
     Q1 2017
Net Sales
($M)
     % Variance  

North America On-Highway

   $ 315      $ 255        24

North America Electric Hybrid-Propulsion Systems for Transit Bus

   $ 24      $ 20        20

North America Off-Highway

   $ 33      $ 1        3200

Defense

   $ 37      $ 27        37

Outside North America On-Highway

   $ 91      $ 72        26

Outside North America Off-Highway

   $ 12      $ 6        100

Service Parts, Support Equipment & Other

   $ 151      $ 118        28

Total Net Sales

   $ 663      $ 499        33

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Monday, April 30, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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