Allison Transmission Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 26, 2022 at 09:05 pm
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Allison Transmission Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 710 million compared to USD 567 million a year ago. Net income was USD 139 million compared to USD 94 million a year ago. Basic earnings per share from continuing operations was USD 1.46 compared to USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 1.45 compared to USD 0.89 a year ago.
For the nine months, sales was USD 2,051 million compared to USD 1,758 million a year ago. Net income was USD 390 million compared to USD 324 million a year ago. Basic earnings per share from continuing operations was USD 4.02 compared to USD 2.97 a year ago. Diluted earnings per share from continuing operations was USD 4.02 compared to USD 2.97 a year ago.
Allison Transmission Holdings, Inc. is a designer and manufacturer of propulsion solutions for commercial and defense vehicles. The Company is also a manufacturer of medium-and heavy-duty fully automatic transmissions. Its products are used in a variety of applications, including on-highway trucks, including distribution, refuse, construction, fire and emergency; buses, including school, transit and coach; motorhomes, off-highway vehicles, and equipment, including energy, mining and construction applications; and defense vehicles, including tactical wheeled and tracked. The Company operates in approximately 150 countries. The Company has manufacturing facilities in the United States, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. The Company also has approximately 1,600 independent distributor and dealer locations worldwide.