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Allison Transmission beats Street 3Q forecasts

INDIANAPOLIS (AP) _ Allison Transmission Holdings Inc. (ALSN) on Monday reported third-quarter net income of $111 million.

On a per-share basis, the Indianapolis-based company said it had profit of 75 cents.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The automatic transmission maker posted revenue of $595 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $526.4 million.

Allison Transmission shares have risen 26 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $42.30, a climb of 44 percent in the last 12 months.


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