Allison Transmission Holdings Inc. reported record third quarter 2024 net sales of $824 million, marking a 12 percent increase from $736 million in the same period of 2023. This performance was driven by continued strength in the North America On-Highway, Defense, and Outside North America On-Highway end markets.
Diluted earnings per share (EPS) for the quarter reached a record $2.27, a 29 percent increase year-over-year from $1.76. Net income for the quarter was $200 million, up from $158 million in Q3 2023, while Adjusted EBITDA increased to $305 million from $267 million.
Based on these strong results and a favorable outlook, Allison raised its full-year 2024 guidance midpoints. The company now expects net sales in the range of $3,135 million to $3,215 million, net income between $675 million and $725 million, and Adjusted EBITDA between $1,115 million and $1,175 million. Net cash provided by operating activities is projected to be $740 million to $800 million, with Adjusted Free Cash Flow between $605 million and $655 million.
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