Q2 2024 Allison Transmission Holdings Inc Earnings Call Transcript
Key Points
- Record revenue of $816 million for Q2 2024, driven by strong demand for Class 8 vocational vehicles.
- Year-over-year net sales increased by 4%, with significant growth in the North American On-Highway and defense end markets.
- Gross profit increased to $394 million, up from $381 million in the same period in 2023.
- Adjusted EBITDA rose to $301 million from $288 million in Q2 2023.
- Raised full-year guidance for revenue, earnings, and cash flow due to ongoing strength in the North American On-Highway end market.
- Higher manufacturing expenses partially offset the increase in gross profit.
- Non-cash defined benefit pension plan settlement charge impacted net income.
- Lower demand in Europe partially offset higher demand in Asia in the outside North America On-Highway end market.
- Challenges in ramping up production to meet high demand due to supply chain constraints and labor shortages.
- Seasonality expected to result in a softer Q4, with fewer production days impacting overall performance.
Welcome to Allison Transmission's second quarter 2024 earnings conference call. My name is Diego, and I will be your conference call operator today. (Operator Instructions) As a reminder, this conference call is being recorded. I would now like to turn the conference call over to Jackie Bolles, Executive Director of Treasury and Investor Relations. Please go ahead, Jackie.
Thank you, Diego. Good afternoon and thank you for joining us for our second quarter 2024 earnings conference call. With me this afternoon are David Graziosi, our Chair and Chief Executive Officer, and Fred Bohley, our Chief Operating Officer, Chief Financial Officer, and Treasurer.
As a reminder, this conference call webcast and this afternoon's presentation are available on the Investor Relations section of Allisontransmission.com. A replay of this call will be available through August 8.
As noted on slide 2 of the presentation, many of our remarks today contain forward
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
