Allison Transmission reports Q1 EPS $2.23, consensus $1.98

Reports Q1 revenue $766M, consensus $787.78M. David Graziosi, Chair and Chief Executive Officer of Allison Transmission (ALSN) commented, “Allison is well-positioned to navigate current trade uncertainties, utilizing our global footprint to provide our North American customers with Made in USA products while supplying our Outside North America customers with on-highway products produced outside North America.” Graziosi continued, “Allison remains committed to prudent balance sheet management and shareholder-friendly capital allocation priorities, as demonstrated by the sixth consecutive annual increase to our quarterly dividend and a $1 billion increase in authorization under our stock repurchase program. During the first quarter, we repurchased over $150 million of our common stock representing nearly 2 percent of outstanding shares. We ended the first quarter with nearly $1.4 billion of authorization remaining.”