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Allison Transmission: 3Q Earnings Snapshot

·1 min read

INDIANAPOLIS (AP) _ Allison Transmission Holdings Inc. (ALSN) on Wednesday reported third-quarter profit of $77 million.

The Indianapolis-based company said it had net income of 68 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The automatic transmission maker posted revenue of $532 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $456.5 million.

Allison Transmission expects full-year revenue in the range of $2.03 billion to $2.08 billion.

Allison Transmission shares have decreased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.21, a decrease of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALSN at https://www.zacks.com/ap/ALSN