Allison Transmission Holdings Inc. net income and revenue surged in the third quarter as all segments performed well.
Net income for the period ended Sept. 30 more than doubled, hitting $111 million, or 75 cents, compared with $45 million, or 27 cents, in the 2016 period.
Revenue increased 37% to $595 million compared with $434 million a year earlier.
“Margins and net cash provided by operating activities for the third quarter approached all-time highs,” Chairman and CEO Lawrence Dewey said in a statement.
The North America On-Highway segment — the company’s largest — posted sales of $282 million, up 26% from the same period in 2016 and driven by higher demand for its Rugged Duty Series and Highway Series models.
Revenue from service parts and support equipment jumped 45% to $139 million.
Sales in the North America off-highway segment ballooned 1,600%, rising to $17 million compared with $1 million a year earlier — reflecting higher demand from hydraulic fracturing applications.
The Indianapolis-based company raised its full-year 2017 revenue guidance from an increase in the range of 15-17% to an increase in the range of 21-22%.