Allison Transmission beats 2Q forecasts with record sales

Allison Transmission Holdings Inc. on Wednesday reported record second-quarter revenue and earnings that topped analyst predictions.

The Indianapolis-based transmission manufacturer brought in $737 million in revenue, up 4% over the same period of 2018.

Five analysts surveyed by Zacks Investment Research expected $687.7 million in revenue.

The company reported profit of $181 million, or $1.46 per share, up from $174 million, or $1.30 per share a year ago.

The average estimate of seven analysts surveyed by Zacks was for earnings of $1.20 per share.

Allison attributed the increase in sales to higher demand in the North America On-Highway and Outside North America Off-Highway end markets.

The company lifted guidance for full-year revenue to the range of $2.64 billion to $2.72 billion, up from $2.58 billion to $2.68 billion.

Allison Transmission shares closed at $45.95 each Wednesday, up 5% since the beginning of the year.

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