The following is a summary of the Allison Transmission Holdings, Inc. (ALSN) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 recorded a record revenue of $816 million, a 4% increase year-over-year.

• Gross profit reached $394 million, increasing by $13 million from the prior year, driven largely by price increases and higher net sales, though this was somewhat countered by increased manufacturing expenses.

• Net income for the quarter stood at $187 million, up by $12 million year over year.

• Earnings per share rose 11% to $2.13, aided by higher net income and a reduction in the total number of shares outstanding.

Business Progress:

• Improved year-over-year performance across multiple market segments, particularly North American On-Highway with a 15% sales increase, and a 30% jump in the defense end market.

• Notable traction in Asia contributed to better results in outside North America On-Highway market, despite lower demand in Europe.

• Investments are made to increase manufacturing throughput and enhance supply chain operations to meet market demand for Class 8 vocational vehicles.

Opportunities:

• Raised guidance for full-year 2024 due to strong performance in North America On-Highway, with anticipated net sales between $3,090 million to $3,170 million.

Risks:

• Continued pressure from supply chain constraints may impact the ability to meet high production demands.

• Material availability and skilled labor challenges persist, posing potential risks to operational efficiency.

More details: Allison Transmission IR

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