Record Net Sales and Revenue Growth
Allison Transmission achieved all-time high net sales of $3.2 billion for the year 2024, with a 15% increase in the North America on-highway market. The defense end market saw a 28% increase in sales, reaching $212 million, and outside North America on-highway sales reached a record $493 million.
Strong Financial Performance
Full year earnings per share increased to a company record diluted EPS of $8.31, up 12% from 2023. Q4 net sales increased 3% year-over-year to $796 million, with a gross profit increase to $373 million.
New Product Launches and Strategic Partnerships
Allison introduced the 6,000 series transmission for widebody dump trucks and announced a partnership with XCMG for the TerraTran transmission in the XG110 WBD trucks.
Debt Reduction and Shareholder Returns
Paid down over $100 million of term loan debt, maintaining a net leverage ratio of 1.4x. Returned cash to shareholders through dividends and share repurchases, with over $500 million of repurchase authorization remaining.