Allison Q1 2023 Earnings Report
Key Takeaways
Allison Transmission announced record first quarter net sales of $741 million, a 9% increase year over year, and diluted EPS of $1.85, up 42% compared to the same period in 2022. The company raised its full year 2023 guidance due to sustained demand and growth initiatives.
Record quarterly net sales of $741 million, up 9% year over year.
Diluted EPS of $1.85, up 42% year over year.
Net sales in Service Parts, Support Equipment and Other end market increased by $44 million.
Net sales in the North America On-Highway end market increased by $30 million.
Allison
Allison
Allison Revenue by Segment
Forward Guidance
Allison expects 2023 Net Sales in the range of $2.9 to $3.0 billion, Net Income in the range of $550 to $600 million, Adjusted EBITDA in the range of $1.01 to $1.09 billion, Net Cash Provided by Operating Activities in the range of $635 to $695 million, Capital Expenditures in the range of $125 to $135 million, and Adjusted Free Cash Flow in the range of $510 to $560 million.
Positive Outlook
- Higher customer demand in the Global On-Highway end market
- Higher customer demand in the Global Off-Highway end market
- Higher customer demand in the Service Parts, Support Equipment & Other end markets
- Price increases on certain products
- Continued execution of growth initiatives
Revenue & Expenses
Visualization of income flow from segment revenue to net income