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August 1, 2019 10:30 AM, EDT

Allison Transmission Posts 4% Increase in Net Income for 2Q

Allison Transmission manufacturing plant Workers at an Allison Transmission manufacturing plant. (Allison Transmission)

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Allison Transmission Holdings, the largest global provider of commercial fully-automatic transmissions, reported net income for the second quarter was up 4% to $181 million, compared with $174 million for the same period in 2018, according to a July 31 earnings release.

Earnings per share were $1.46, up from $1.39 in the same quarter a year ago.

Revenue for the second quarter was $737 million, a 4% increase from the same period in 2018.

Allison officials said the increase in sales was principally driven by higher demand in the North American on-highway end market.

Allison officials said given second-quarter 2019 results and current markets conditions, the full year 2019 guidance is being raised. Updated 2019 guidance includes revenue in the range of $2.6 billion to $2.72 billion, with net income in the range of $545 million to $585 million.

Allison Transmission is headquartered in Indianapolis and employs approximately 2,900 people worldwide. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the United States, Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide.