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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAllison Transmission Holdings Inc. on Monday reported profit and revenue in the second quarter that exceeded the expectations of stock analysts.
The Indianapolis-based manufacturer said it made $95 million, or 63 cents per share, in the latest quarter, compared with $61 million, or 36 cents per share, in the same quarter of 2016.
The results topped the average estimate of 47 cents per share from eight analysts surveyed by Zacks Investment Research.
The automatic transmission maker reported revenue of $580 million in the quarter, up from $475 million in the year-ago period.
Seven analysts surveyed by Zacks expected revenue $513.3 million.
Allison saw steep sales increases in several categories, including service parts and support equipment, North America off-highway, North America on-highway and outside-North America off-highway.
The company raised its full-year 2017 guidance for year-over net sales to increase in the range of 15 to 17 percent.
Allison Transmission shares closed at $37.82 each Monday before the earnings report was released. The stock is up 12 percent since the beginning of the year and 31 percent in the last 12 months.
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