Allison Transmission Holdings, Inc. · NYSE:ALSN
Allison Transmission — Q1 2022 Earnings Presentation
13 slides from Allison Transmission's earnings presentation, Apr 27, 2022
Slide 1: Q1 2022 Earnings Release
Q1 2022 Earnings Release April 27th, 2022 Dave Graziosi, Chairman & Chief Executive Officer Fred Bohley, Senior 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 EBITDA and Adjusted EBITDA as a percent of net sales to measure our operating profitability. We believe that Adjusted EBITDA and Adjusted EBITDA as a percent of net sales provide management, investors and creditors with useful measures of the operationa
Slide 4: Call Agenda
Call Agenda Q1 2022 Performance 2022 Guidance 4
Slide 5: Q1 2022 Performance Summary
Q1 2022 Performance Summary ($ in millions) Q1 2022 Q1 2021 % Variance Net Sales $677 $588 15.1% Gross Profit $320 $291 10.0% Net Income $129 $120 7.5% Adjusted EBITDA(1) $244 $222 9.9% Diluted Earnings Per Share $1.30 $1.07 21.5% Net Sales: increase principally driven by: – 8 percent increase in
Slide 6: Q1 2022 Net Sales Performance
Q1 2022 Net Sales Performance ($ in millions) End Markets Q1 2022 Q1 2021 % Variance Commentary Principally driven by continued strength in customer demand for last mile North America On-Hwy $346 $319 8% delivery, regional haul and vocational trucks North America Off-Hwy $18 $2 800% Principally driv
Slide 7: Q1 2022 Financial Performance
Q1 2022 Financial Performance ($ in millions, except per share data) Q1 2022 Q1 2021 $ Var % Var Commentary Increase was principally driven by higher demand in the NA On-Highway, ONA On-Highway, Service Parts, Net Sales $677 $588 $89 15% Support Equipment & Other and Global Off-Highway end markets I
Slide 8: Q1 2022 Cash Flow Performance
Q1 2022 Cash Flow Performance ($ in millions) Q1 2022 Q1 2021 $ Variance % Variance Commentary Principally driven by lower operating working capital funding requirements and higher gross Net Cash Provided by Operating $163 $131 $32 24.4% profit partially offset by higher cash incentive Activities co
Slide 9: 2022 Guidance
2022 Guidance Affirming the full year 2022 guidance ranges provided to the market on February 16, 2022 ($ in millions) Guidance Net Sales $2,625 to $2,775 Net Income $430 to $520 Adjusted EBITDA1 $865 to $975 Net Cash Provided by Operating Activities $570 to $680 Capital Expenditures $170 to $180 Ad
Slide 10: Appendix: Non-GAAP Financial Information
APPENDIX Non-GAAP Financial Information 10
Slide 11: Non-GAAP Reconciliations (1 of 3)
Non-GAAP Reconciliations (1 of 3) Adjusted EBITDA Reconciliation Last twelve Three months ended months ended $ in millions, Unaudited For the year ended December 31, March 31, March 31, 2017 2018 2019 2020 2021 2021 2022 2022 Net Income (GAAP) $504 $639 $604 $299 $442 $120 $129 $451 plus: Interest e
Slide 12: Non-GAAP Reconciliations (2 of 3)
Non-GAAP Reconciliations (2 of 3) Adjusted Free Cash Flow Reconciliation Last twelve Three months months ended $ in millions, Unaudited For the year ended December 31, ended March 31, March 31, 2017 2018 2019 2020 2021 2021 2022 2022 Net Cash Provided by Operating Activities (GAAP) $658 $837 $847 $5
Slide 13: Non-GAAP Reconciliations (3 of 3)
Non-GAAP Reconciliations (3 of 3) Guidance Reconciliation $ in millions Guidance Year Ending December 31, 2022 Low High Net Income (GAAP) $ 430 $ 520 plus: Depreciation and amortization 160 160 Income tax expense 127 147 Interest expense, net 118 118 Stock-based compensation expense 18 18 Unrealized
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