Allison Transmission: 2Q Earnings Snapshot
Jul. 30, 2018
INDIANAPOLIS (AP) _ Allison Transmission Holdings Inc. (ALSN) on Monday reported second-quarter profit of $174 million.
On a per-share basis, the Indianapolis-based company said it had net income of $1.29.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The automatic transmission maker posted revenue of $711 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $652.4 million.
Allison Transmission shares have dropped roughly 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $41.82, an increase of 11 percent in the last 12 months.