Cummins/Westport Engine Gets EPA Certificate - Analyst Blog
March 25 2013 - 1:40PM
Zacks
Cummins Westport, a joint venture between Cummins
Inc. (CMI) and Westport Innovations Inc.
(WPRT), revealed that its ISX12 G engine has received a certificate
from the U.S. Environmental Protection Agency (EPA). The engine met
both the EPA 2013 regulations and the new greenhouse gas and
fuel-efficiency rules that is about to take effect next year.
The ISX12 G natural gas engine is based on the Cummins ISX12 diesel
engine platform and operates mainly on natural gas. The engine
incorporates Cummins Westport’s proprietary spark-ignited,
stoichiometric combustion with cooled exhaust gas recirculation
(SEGR) technology, which was introduced with the Cummins Westport
ISL G engine.
Cummins Westport will begin limited production of the ISX12 G
engine next month. Full production of the engine will start in
Aug.
Cummins, which is a leading engine manufacturer along with
Power Solutions International, Inc. (PSIX) and
Weichai Power Co. Ltd (WEICY), is well positioned
to benefit from several trends, such as new emission standards,
fuel economy improvement and favorable trends for its Power
Generation business.
Westport Innovations is a global leader in alternative fuel and
low-emissions technologies. It brings technologies that help
engines to operate on clean-burning fuels such as compressed
natural gas (CNG), liquefied natural gas (LNG), hydrogen and
biofuels.
Cummins, a Zacks Rank #3 (Hold) company, posted a 21.9% fall in
earnings per share to $2.00 in the fourth quarter of 2012 from
$2.56 per share in the same quarter of 2011 owing to lower revenues
(all excluding special items). However, EPS exceeded the Zacks
Consensus Estimate by a considerable margin of 26 cents.
Revenues in the quarter ebbed 13% to $4.3 billion, driven by weaker
demand in truck, construction, and oil and gas markets in North
America as well as in international markets for power generation
equipment, and construction, truck and mining engines. Revenues
were higher than the Zacks Consensus Estimate of $4.1 billion.
Cummins anticipates revenues in full year 2013 to be flat to down
5%. EBIT margin is expected between 13% and 14% for the year.
CUMMINS INC (CMI): Free Stock Analysis Report
POWER SOL INTL (PSIX): Get Free Report
WEICHAI POWER (WEICY): Get Free Report
WESTPORT INNOV (WPRT): Free Stock Analysis Report
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