Allison Transmission Results Top Estimate, Lifts FY Guidance; Stock Up 6%

(RTTNews) - Allison Transmission Holdings Inc. (ALSN) Monday reported third-quarter net earnings of $68.8 million or $0.38 per share compared with $44.5 million or $0.24 per share last year.

Excluding items, adjusted earnings for the quarter were $138 million compared with $101 million a year ago.

Revenues for the quarter were up 19% at $553 million compared with $466 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.30 per share on revenues of $501.6 million for the quarter. Analysts' estimates typically exclude special items.

Allison expects fourth-quarter sales to improve from a year ago.

For the full year, the company now estimates sales to grow 7.5 to 9 percent from last year, up from prior guidance of 4 to 6 percent growth. Analysts currently expect sales to grow 5.5 percent.

Allison Transmission, based in Indianapolis, makes commercial and defense automatic transmissions for commercial vehicles and tactical U.S. defense vehicles.