Allison Transmission Holdings, Inc. · NYSE:ALSN
Allison Transmission — Q1 2024 Earnings Presentation
13 slides from Allison Transmission's earnings presentation, Apr 25, 2024
Slide 1: Q1 2024 Earnings Release
Q1 2024 Earnings Release April 25th, 2024 Dave Graziosi, Chair & CEO Fred Bohley, Senior Vice President, CFO & Treasurer 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 2024 Performance 2024 Guidance Update 4
Slide 5: Q1 2024 Performance Summary
Q1 2024 Performance Summary ($ in millions, except per share data; variance % from Q1 2023) Net Sales Gross Profit Net Income Adjusted EBITDA* Diluted Earnings Per Share $789 $366 $169 $289 $1.90 +6% +1% -1% +5% +3% Increase principally driven by: Increase was principally driven Decrease was princip
Slide 6: Q1 2024 Net Sales Performance
Q1 2024 Net Sales Performance ($ in millions, variance % from Q1 2023) End Markets Q1 2024 Variance Commentary Principally driven by strength in demand for class 8 vocational and North America On-Hwy $420 12% medium-duty trucks and price increases on certain products North America Off-Hwy $4 (83%) P
Slide 7: Q1 2024 Financial Performance
Q1 2024 Financial Performance ($ in millions, except per share data) Q1 2024 $ Variance* % Variance* Commentary Increase was principally driven by strength in the North America On-Highway, Defense, Outside North America Off-Highway and Outside North America On-Highway End Net Sales $789 $48 6% Marke
Slide 8: Q1 2024 Cash Flow Performance
Q1 2024 Cash Flow Performance ($ in millions, variance from Q1 2023) Q1 2024 $ Variance % Variance Commentary Principally driven by higher cash incentive compensation payments and non- Net Cash Provided by recurring UAW contract signing incentive payments partially offset by higher gross $173 ($20)
Slide 9: 2024 Guidance
2024 Guidance ($ in millions) Reaffirming full year 2024 guidance provided to the market on February 13, 2024 $3,050 - $3,150 $635 - $685 $1,070 - $1,130 $700 - $760 $125 - $135 $575 - $625 Net Cash Provided Adjusted Capital Adjusted Free Net Sales Net Income by Operating EBITDA* Activities Expendit
Slide 10: Appendix
Appendix Non-GAAP Financial Information 10
Slide 11: Non-GAAP Reconciliations (1 of 3)
Non-GAAP Reconciliations (1 of 3) Adjusted EBITDA Reconciliation 11
Slide 12: Non-GAAP Reconciliations (2 of 3)
Non-GAAP Reconciliations (2 of 3) 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, 2019 2020 2021 2022 2023 2023 2024 2024 Net Cash Provided by Operating Activities (GAAP) $847 $561 $635 $6
Slide 13: Non-GAAP Reconciliations (3 of 3)
Non-GAAP Reconciliations (3 of 3) Guidance Reconciliation $ in millions Guidance Year Ending December 31, 2024 Low High Net Income (GAAP) $ 635 $ 685 plus: Income Depreciation tax expense and amortization 167 177 Depreciation Income tax expense of property, plant and equipment 112 112 Interest expen
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