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Cummins 4Q Profit Jumps 51% On North American Demand

DOW JONES NEWSWIRES Cummins Inc.'s (CMI) fourth-quarter profit rose 51% as the company's North American market continued to show strength. Shares were up 2.5% at $108.50 in premarket trading on much stronger-than-expected results. Cummins' earnings have soared over the past two years as stronger demand for truck engines and parts in North America and other key markets drives stronger sales. The maker of truck engines and power generation systems has also earned a string of credit upgrades from bond-rating agencies as its debt metrics and profitability improve. Cummins reported a profit of $548 million or $2.86 a share, up from $362 million, or $1.84 a share, a year earlier. Excluding gains from business sales and insurance recovery, per-share earnings rose to $2.56 in the latest quarter as revenue rose 19% to $4.92 billion. Analysts polled by Thomson Reuters expected $2.23 a share and $4.71 billion, respectively. Gross margin widened to 25.2% from 23.8%. Sales in the engines business, the company's largest top-line contributor, climbed 23% on strong demand for oil and gas engines in North America and expanding mining engine use around the world. Revenue from components was up 19%, also on demand from North America. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stock News for Cummins (CMI)
DateTimeHeadline
02/16/201709:56:22Initial Statement of Beneficial Ownership (3)
02/15/201716:27:13Current Report Filing (8-k)
02/14/201715:30:00Cummins Inc. Declares Quarterly Common Stock Dividend
02/14/201710:37:34Statement of Ownership (sc 13g)
02/13/201717:06:31Amended Statement of Ownership (sc 13g/a)
02/13/201716:40:45Amended Statement of Ownership (sc 13g/a)
02/13/201714:12:32Annual Report (10-k)
02/10/201717:19:21Schedule 13g
02/09/201712:15:13Amended Statement of Ownership (sc 13g/a)
02/09/201710:33:00Cummins Profit Rises, Helped by Cost Cuts
02/09/201707:42:57Current Report Filing (8-k)
02/09/201707:30:00Cummins Announces Fourth Quarter and Full Year 2016 Results
02/08/201708:00:00Allison Transmission and Cummins receive certification from California...
01/23/201714:23:23Amended Statement of Ownership (sc 13g/a)
01/13/201714:54:07Annual Statement of Changes in Beneficial Ownership (5)
01/13/201707:36:00カミンズは無効化装置を使用しておらず、排出基準の順守に傾倒
01/12/201721:47:00Cummins Inc. verwendet keine Abschalteinrichtungen und verpflichtet...
01/12/201721:47:00Cummins Inc. non utilizza alcun “defeat device” e si impegna per...
01/12/201720:37:00Cummins Inc. n'utilise pas de dispositif d'invalidation et s'engage...
01/12/201712:28:00Cummins Inc. Does Not Use Defeat Devices and Is Committed to...

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