According to ACT Research, March Class 8 tuck orders were 46,900 units, up 102% year-over-over and 16% month-over-month, JPMorgan analyst Ann Duignan tells investors in a research note. Class 5-7 March net orders were 27,400 units, up 10% year-over-year and up 3% month-over-month, the analyst adds. She believes U.S. macro indicators for truck purchases have continued to trend positively. Truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), and Allison Transmission (ALSN), Duignan points out.

"We are reaffirming our full year 2024 guidance provided to the market on February 13. Allison expects 2024 Net Sales in the range of $3,050 to $3,150 million, Net Income in the range of $635 to $685 million, Adjusted EBITDA in the range of $1,070 to $1,130 million, Net Cash Provided by Operating Activities in the range of $700 to $760 million, Capital Expenditures in the range of $125 to $135 million, and Adjusted Free Cash Flow in the range of $575 to $625 million."