Reports Q1 revenue $741M, consensus $717.38M. David S. Graziosi, Chairman and Chief Executive Officer of Allison Transmission commented, "Our first quarter results for 2023 continue the trend of strong performance after a record year in 2022. Record quarterly net sales were achieved in the first quarter, demonstrating our value proposition and strength in our Service Parts, Support Equipment and Other and North America end markets. While the business environment remains challenging, we continued our cost mitigation and pricing actions as demonstrated through our gross margin expansion in the first quarter, increasing 145 basis points year over year."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ALSN:
- Allison Transmission, Foton partner over compressed natgas buses to Nuevo Leon
- Is ALSN a Buy, Before Earnings?
- Citi opens ‘positive catalyst watch’ on Allison Transmission into earnings
- Allison Transmission price target raised to $40 from $39 at Morgan Stanley
- Allison Transmission selected to equip AM General’s A1 version of JLTV