ADVFN - Advanced Financial Network.
HOME» NYSE » C » CMI Stock Price » CMI Stock News

Cummins Share News

 Cummins, Inc. Stock Price
CMI Stock Price
 Cummins, Inc. Stock Chart
CMI Stock Chart
 Cummins, Inc. Stock News
CMI Stock News
 Cummins, Inc. Company Information
CMI Company Information
 Cummins, Inc. Stock Trades
CMI Stock Trades

Cummins 1Q Profit More Than Doubles As Sales Soar

DOW JONES NEWSWIRES Cummins Inc.'s (CMI) first-quarter profit more than doubled amid strength in key international markets and a recovery in the North American truck market. The company raised its current-year sales forecast by $1 billion, to $17 billion. It also expects earnings before interest and taxes of 14% of sales, up from its prior view for 13.5% The maker of truck engines and power-generation systems has seen earnings improve on higher sales of late, helped by strong demand in developing markets. But it and rivals have been squeezed of late by high commodity costs and expenses tied to increasing production. Cummins reported a profit of $343 million, or $1.75 a share, up from $149 million, or 75 cents a share, a year earlier. Revenue soared 56% to $3.86 billion. Analysts polled by Thomson Reuters most recently expected a profit of $1.44 on $3.61 billion in revenue. Gross margin rose to 24.8% from 24.3%. Sales in the engine segment--by far the largest--surged 68% from a year-earlier that was hurt by changes in emission standards and the economic downturn. Global heavy-duty truck shipments more than tripled, while medium-duty truck engine sales more than doubled. Shipments to construction markets were up 60% while mining shipments rose 59%. Component sales rose 47%, aided by recovery in Europe and growth in China and India, as well as emission-control products in North America. Shares closed Tuesday at $108.20 and were inactive premarket. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for Cummins (CMI)
08/24/201614:43:53Statement of Changes in Beneficial Ownership (4)
08/16/201615:30:00Cummins Ready to Deliver Fuel Savings and Greenhouse Gas Reductions...
08/12/201616:28:07Statement of Changes in Beneficial Ownership (4)
08/12/201616:27:39Statement of Changes in Beneficial Ownership (4)
08/10/201611:01:00Cummins & ATA Celebrate the Truck Driving Championships in Indianapolis...
08/08/201615:20:32Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:32Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:04Statement of Changes in Beneficial Ownership (4)
08/08/201615:20:04Statement of Changes in Beneficial Ownership (4)
08/03/201614:40:00Heavy-Duty Truck Order Slump Deepens
08/02/201613:17:09Quarterly Report (10-q)
08/02/201610:00:00Cummins Cuts Revenue Forecast on Weak Market Outlook
08/02/201609:52:00Cummins Cuts Revenue Forecast on Weak Market Outlook
08/02/201607:42:20Current Report Filing (8-k)
08/02/201607:30:00Cummins Announces Second Quarter 2016 Results
07/27/201616:35:27Statement of Changes in Beneficial Ownership (4)
07/27/201616:34:35Statement of Changes in Beneficial Ownership (4)
07/26/201612:14:06Current Report Filing (8-k)
07/21/201609:21:35Initial Statement of Beneficial Ownership (3)
07/20/201608:40:00Diversified Machinery Stocks in Motion -- Cummins, Ocean Power...

Cummins and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations