Allison Transmission Holdings, Inc. · NYSE:ALSN
Allison Transmission — Q1 2015 Earnings Presentation
12 slides from Allison Transmission's earnings presentation, Apr 27, 2015
Slide 1: Q1 2015 Earnings Release
Q1 2015 Earnings Release Published April 27, 2015 (Earnings Conference Call April 28, 2015) Lawrence Dewey, Chairman, President & Chief Executive Officer David Graziosi, Executive Vice President & Chief Financial Officer 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement The following information contains, or may be deemed to contain, “forward-looking statements” (as defined in the U.S. Private Securities Litigation Reform Act of 1995). The words “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions
Slide 3: Non-GAAP Financial Information
Non-GAAP Financial Information We use Adjusted net income, Adjusted EBITDA, Adjusted EBITDA excluding technology-related license expenses, Adjusted EBITDA margin, Adjusted EBITDA margin excluding technology-related license expenses, adjusted free cash flow and free cash flow to evaluate our performa
Slide 4: Call Agenda
Call Agenda Q1 2015 Performance Full Year 2015 Guidance Update 4
Slide 5: Q1 2015 Performance Summary
Q1 2015 Performance Summary ($ in millions) Q1 2015 Q1 2014 % Variance Net Sales $504 $494 2.0% Gross Margin % 47.5% 45.1% +240 bps Adjusted Net Income (1) $150 $108 38.7% Adjusted Free Cash Flow (1) $87 $96 (9.6%) Commentary Net Sales: the increase was principally driven by the continued recovery i
Slide 6: Q1 2015 Sales Performance
Q1 2015 Sales Performance ($ in millions) End Markets Q1 2015 Q1 2014 % Variance Commentary Principally driven by higher demand for Rugged Duty Series North America On-Hwy $268 $233 15% models North America Hybrid- Principally driven by lower demand due to engine emissions Propulsion Systems for $18
Slide 7: Q1 2015 Financial Performance
Q1 2015 Financial Performance ($ in millions, except share data) Q1 2015 Q1 2014 $ Var % Var Commentary Net Sales $503.6 $493.6 $10.0 2.0% Increase principally driven by the continued recovery in the North America On-Highway end market, higher demand in the North America Off-Highway end market and p
Slide 8: Q1 2015 Cash Flow Performance
Q1 2015 Cash Flow Performance ($ in millions) Q1 2015 Q1 2014 $ Variance % Variance Commentary Principally driven by decreased deferred revenue, incentive compensation accruals and Net Cash Provided by miscellaneous other liabilities $80 $99 ($19) (18.8%) partially offset by price increases Operatin
Slide 9: Full Year 2015 Guidance Update
Full Year 2015 Guidance Update Guidance Commentary Guidance reflects the increased level of uncertainty and the (4) to (8) Net Sales Change from 2014 lack of near term visibility in the global Off-Highway and percent Service Parts, Support Equipment & Other end markets Principally driven by Net Sale
Slide 10: Appendix: Non-GAAP Financial Information
APPENDIX Non-GAAP Financial Information 10
Slide 11: Non-GAAP Reconciliations (1 of 2)
Non-GAAP Reconciliations (1 of 2) Adjusted Net Income and Adjusted EBITDA reconciliation Last twelve Three months ended months ended $ in millions, Unaudited For the year ended December 31, March 31, March 31, 2010 2011 2012 2013 2014 2014 2015 2015 Net income $29.6 $103.0 $514.2 $165.4 $228.6 $52.1
Slide 12: Non-GAAP Reconciliations (2 of 2)
Non-GAAP Reconciliations (2 of 2) Adjusted Free Cash Flow reconciliation Last twelve Three months ended months ended $ in millions, Unaudited For the year ended December 31, March 31, March 31, 2010 2011 2012 2013 2014 2014 2015 2015 Net Cash Provided by Operating Activities $388.9 $469.2 $497.5 $45
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