Allison (ALSN) Q1 Earnings Drive Past Estimates, Rise Y/Y
Zacks Investment Research | Apr 24, 2019 08:57AM ET
Allison Transmission Holdings Inc.’s (NYSE:ALSN) first-quarter 2019 earnings were $1.32 per share, beating the Zacks Consensus Estimate of $1.11. In the year-ago quarter, the bottom line was $1.08. Net income in the quarter under review was $167 million compared with $151 million in first-quarter 2018.
In the reported quarter, net sales rose 2% year over year to $675 million. Moreover, it outpaced the Zacks Consensus Estimate of $646 million. Favorable demand outside North America Off-Highway and North America On-Highway end markets led to rise in sales.
Gross profit increased 5% year over year to $359 million while gross margin was 53.2% compared with 51.6% recorded in the same period of 2018. This rise in gross profit was primarily driven by reduction in expenses related to the retirement incentive program, improved net sales, price increases on certain products and lower incentive compensation expenses.
Allison Transmission Holdings, Inc. Price, Consensus and EPS Surprise
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