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Allison Transmission Holdings Inc (ALSN) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Allison Transmission Holdings Inc

CIK: 1411207 Ticker: ALSN

Exhibit 99.1

 

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Allison Transmission Announces Second Quarter 2019 Results

 

   

Record Net Sales of $737 million, up 4 percent year-over-year

 

   

Net Income of $181 million, 25% of Net Sales

 

   

Adjusted EBITDA of $308 million, 42% of Net Sales

 

   

Diluted EPS of $1.46, up 13 percent year-over-year

INDIANAPOLIS, July 31, 2019 – 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 $737 million, a 4 percent increase from the same period in 2018. The increase in net sales was principally driven by higher demand in the North America On-Highway and Outside North America Off-Highway end markets partially offset by lower demand in the North America Off-Highway and Service Parts, Support Equipment & Other end markets.

Net Income for the quarter was $181 million compared to $174 million for the same period in 2018. Adjusted EBITDA, a non-GAAP financial measure, for the quarter was $308 million compared to $297 million for the same period in 2018. Net Cash Provided by Operating Activities for the quarter was $239 million compared to $213 million for the same period in 2018. Adjusted Free Cash Flow, a non-GAAP financial measure, for the quarter was $214 million compared to $194 million for the same period in 2018.

David S. Graziosi, President and Chief Executive Officer of Allison Transmission commented:

“We are pleased to report that Allison’s second quarter 2019 results exceeded our expectations and the guidance ranges provided to the market on April 23, led by year-over year net sales growth of 4 percent, to a record $737 million. Furthermore, Allison continues its well-defined approach to capital structure and allocation, settling $235 million of share repurchases and paying a dividend of $0.15 per share during the second quarter. In May, the Board of Directors approved a $1 billion increase to the existing stock repurchase authorization, resulting in $1.16 billion of remaining authorized share repurchase capacity as of the end of the quarter. Finally, given second quarter 2019 results and current end markets conditions, we are raising our full year 2019 guidance for Net Sales, Net Income, Adjusted EBITDA, Net Cash Provided by Operating Activities and Adjusted Free Cash Flow.”

Second Quarter Net Sales by End Market

 

End Market

   Q2 2019
Net Sales
($M)
     Q2 2018
Net Sales
($M)
     % Variance  

North America On-Highway

   $ 398      $ 343        16

North America Off-Highway

   $ 9      $ 31        (71 %) 

Defense

   $ 37      $ 43        (14 %) 

Outside North America On-Highway

   $ 106      $ 101        5

Outside North America Off-Highway

   $ 40      $ 24        67

Service Parts, Support Equipment & Other

   $ 147      $ 169        (13 %) 

Total Net Sales

   $ 737      $ 711        4

 

1


The following information was filed by Allison Transmission Holdings Inc (ALSN) on Wednesday, July 31, 2019 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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Inside Allison Transmission Holdings Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Amounts Reclassified From Aocl (Detail)
Accumulated Other Comprehensive Loss - Changes In Accumulated Other Comprehensive Loss By Component (Detail)
Acquisitions (Details)
Acquisitions (Notes)
Certain Relationships And Related Party Transactions
Certain Relationships And Related Party Transactions (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Common Stock
Common Stock - Additional Information (Detail)
Debt
Debt (Tables)
Debt - 4.75% Senior Notes (Details)
Debt - 5.0% Senior Notes (Details)
Debt - 5.875% Senior Notes (Details)
Debt - Additional Information (Details)
Debt - New Senior Secured Credit Facility (Detail)
Debt - Summary Of Long-Term Debt And Maturities (Detail)
Deferred Revenue
Deferred Revenue (Tables)
Deferred Revenue - Additional Information (Detail)
Deferred Revenue - Deferred Revenue Activity (Detail)
Derivatives
Derivatives (Tables)
Derivatives - Additional Information (Detail)
Derivatives - Derivative Instruments And Their Impact On The Financial Condition (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Of Numerators And Denominators Used To Calculate Basic Eps And Diluted Eps (Detail)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Components Of Net Periodic Benefit Cost (Credit) (Detail)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Additional Information (Detail)
Fair Value Of Financial Instruments - Summary Of Fair Value Of Financial Assets And (Liabilities) (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Additional Information (Detail)
Goodwill And Other Intangible Assets - Amortization Expense Related To Other Intangible Assets For Next Five Fiscal Years (Detail)
Goodwill And Other Intangible Assets - Summary Of Other Intangible Assets (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Inventories
Inventories (Tables)
Inventories - Components Of Inventories (Detail)
Leases
Leases (Tables)
Leases - Lease Maturity, Current Guidance (Details)
Leases - Lease Maturity, Prior Guidance (Details) (Details)
Leases - Narrative (Details)
Leases - Rou Assets (Details)
Other Current Liabilities
Other Current Liabilities (Tables)
Other Current Liabilities - Summary Of Other Current Liabilities (Detail)
Overview
Overview - Additional Information (Detail)
Product Warranty Liabilities
Product Warranty Liabilities (Tables)
Product Warranty Liabilities - Additional Information (Detail)
Product Warranty Liabilities - Product Warranty Liability Activities (Detail)
Revenue
Revenue (Tables)
Revenue - Additional Information (Detail)
Revenue - Disaggregated Revenue By Categories (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Allison Transmission Holdings Inc provided additional information to their SEC Filing as exhibits

Ticker: ALSN
CIK: 1411207
Form Type: 10-Q Quarterly Report
Accession Number: 0001411207-19-000164
Submitted to the SEC: Thu Aug 01 2019 12:08:41 PM EST
Accepted by the SEC: Thu Aug 01 2019
Period: Sunday, June 30, 2019
Industry: Motor Vehicle Parts And Accessories

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