Allison Transmission: 3Q Earnings Snapshot
INDIANAPOLIS (AP) _ Allison Transmission Holdings Inc. (ALSN) on Wednesday reported third-quarter net income of $149 million.
On a per-share basis, the Indianapolis-based company said it had profit of $1.23.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The automatic transmission maker posted revenue of $669 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $663.9 million.
Allison Transmission expects full-year revenue in the range of $2.65 billion to $2.7 billion.
Allison Transmission shares have increased 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.54, a rise of slightly more than 5% in the last 12 months.