Allison Announces Q3 Results, Awarded Military Contract
[undated photo] Allison Transmission's global headquarters are located in Indianapolis. (photo courtesy of Allison Transmission)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) is reporting net income of $149 million during the third quarter, compared to $167 million for the same period a year ago.
“We are pleased to report that Allison’s third-quarter 2019 results are within the full-year guidance ranges provided to the market on July 31st, and our North America On-Highway end market remains on track for a third consecutive record year, “ said David Graziosi, president and chief executive officer of Allison Transmission.
Graziosi credits third-quarter results on the company’s execution of growth initiatives, such as market share gains in the Class 4/5 truck sector.
During the third quarter, Allison closed the acquisitions of Walker Die Casting, an Allison parts supplier, and the affiliated company, C&R Tool and Engineering.
Click here to read the financial report.
Meanwhile, the company has been awarded a maximum $35 million firm-fixed-price contract for transmissions for the U.S. Army.
The Department of Defense says this is a one-year base contract with a one-year option. DOD expects work to be completed by March 2022.
The contracting activity is the Defense Logistics Agency Land and Maritime, Warren, Michigan.