Allison Reports Profit Growth
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Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) is reporting full-year net income of $442 million, up from $299 million in 2020. Chief Executive Officer David Graziosi says net sales accelerated in the fourth quarter, driven by a strong recovery to pre-pandemic levels in the Outside North America On-Highway end market.
“In fact, fourth quarter net sales were up sequentially across all of our end markets, as our global customers and partners worked diligently to meet global demand,” said Graziosi.
The company is reporting fourth quarter net income of $118 million, up from $60 million during the same period in 2020. Graziosi says strong customer demand in Asia and execution of the company’s growth initiatives contributed to the results.
“We recently announced an investment in Autotech Ventures, a venture capital firm that’s helping to pave the way for the next frontier of mobility,” said Graziosi. “Autotech invests in and provides consulting services to early-stage transport technology start-ups focused on connectivity, autonomy, sharing, electrification and digitization in the transport tech space. This partnership will significantly enhance our efforts to identify strategic opportunities and continue investing in innovative companies.”
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