Cummins Inc. (CMI) - NYSE
  • Tue, Jul. 12, 4:30 PM
    • Cummins (NYSE:CMI) declares $1.025/share quarterly dividend, 5.1% increase from prior dividend of $0.975.
    • Forward yield 3.45%
    • Payable Sept. 1; for shareholders of record Aug. 22; ex-div Aug. 18.
    | Tue, Jul. 12, 4:30 PM | 34 Comments
  • Mon, Jun. 6, 12:10 PM
    • Truck maker stocks are ahead of broad market averages with Navistar leading the way. Navistar (NAV +6.6%) is due to release earnings tomorrow with analysts expecting revenue of $2.239B and EPS of -$0.17 to be reported.
    • Late last week, FTR issued a report indicating that North American Class 8 truck orders improved 0.4% M/M to 14,100 units.
    • The level of orders were still down 30% on a year-over-year comparison.
    • "Fleets do not need to order many trucks in the current environment because in most cases they have enough trucks to handle the freight. Freight demand is still sluggish due to the build-up of business inventories," said a FTR commercial vehicles VP.
    • Cummins (CMI +1.4%) and PACCAR (PCAR +1.3%) are both higher on the day.
    | Mon, Jun. 6, 12:10 PM
  • Fri, Jun. 3, 12:37 PM
    • PACCAR (PCAR -2.3%) is downgraded to Neutral from Buy with a $63 price target, trimmed from $67, at Goldman Sachs, citing weaker pricing and rising raw materials, which will hurt margins.
    • Goldman says pricing turned negative in Europe as well as in North America this past quarter, while at the same time raw material benefits reached the highest levels in the current cycle.
    • The recent surge in commodity prices limits PCAR's ability pass higher raw material costs to its customers, the firm says, seeing margin risk for the company from rising raw material prices as early as Q4 2016.
    • Also, ACT Research reports that the trucking industry ordered 14,300 Class 8 trucks in May, down 31% Y/Y, reflecting concerns that freight volumes will stay low heading into the peak shipping season.
    • Truck manufacturer Navistar (NYSE:NAV) -2.1%; engine maker Cummins (NYSE:CMI) -2%.
    | Fri, Jun. 3, 12:37 PM
  • Thu, May 19, 5:57 PM
    • Shares of truck makers and suppliers posted losses in today's trade after Daimler (OTCPK:DDAIF) lowered its truck division guidance, forecasting lower EBIT and unit sales because of weaker than expected global truck markets.
    • Daimler Trucks says it now expects EBIT and unit sales to come in significantly below the "very good" prior-year levels; the division previously had anticipated EBIT at the prior-year level and a slight decrease in unit sales.
    • Daimler says the "difficult situation" of global truck markets has worsened in recent weeks, and now expects the overall market for Class 6 to 8 trucks will contract by ~15% in 2016.
    • In today's trade: OTCPK:DDAIF -2.4%, PCAR -3.4%, NAV -3.3%, CNHI -0.8%, CMI -2.3%, ALSN -1.8%.
    | Thu, May 19, 5:57 PM | 5 Comments
  • Tue, May 10, 3:21 PM
    | Tue, May 10, 3:21 PM | 5 Comments
  • Tue, May 3, 8:06 AM
    • Net income of $321M, or $1.87 per diluted share vs. $387M, or $2.14 per diluted share in the same quarter a year ago.
    • Revenue by segment: Engine -10%; Distribution -1%; Components -5%; Power Generation -19%.
    • "Our results for the first quarter reflect solid execution of our cost reduction plans in the face of very challenging market conditions," said COO Rich Freeland.
    • Based on the current forecast, the company expects full year 2016 revenues to be down 5-9%, and EBIT to be in the range of 11.6-12.2% of sales, unchanged from the forecast three months ago.
    • Q1 results
    | Tue, May 3, 8:06 AM | 1 Comment
  • Tue, May 3, 7:32 AM
    • Cummins (NYSE:CMI): Q1 EPS of $1.87 beats by $0.09.
    • Revenue of $4.29B (-8.9% Y/Y) misses by $10M.
    • Press Release
    | Tue, May 3, 7:32 AM | 1 Comment
  • Mon, May 2, 5:30 PM
  • Wed, Apr. 27, 3:03 PM
    • Sales of Class 8 trucks are expected to be 220K to 250K this year, according to a forecast from PACCAR. The estimate is lower than an original forecast from the company for sales of 230K to 260K units.
    • While the market in Europe is the strongest it has been in eight years, sluggish demand in the U.S. is expected to continue. The most recent data from FTR shows the recent weak trend in North America. March sales came in at the worst level since 2010.
    • Investors have been showing more confidence in truck maker stocks this year. Navistar (NYSE:NAV) is up 53% YTD, while Cummins (NYSE:CMI) and PACCAR are both up over 26%. Oshkosh, a manufacturer of a wider variety of vehicles, is up 10% for the year.
    | Wed, Apr. 27, 3:03 PM | 4 Comments
  • Thu, Apr. 21, 11:48 AM
    • Cummins (CMI -0.3%) is downgraded to Underperform from Neutral with a $110 price target at Baird, which believes CMI's fundamentals remain challenged and presents an unfavorable risk/reward scenario in the truck supplier group, but at the same time Piper Jaffray continues to be a buyer and raises its price target on the shares to $132 from $114, citing continued improvement in China.
    • Baird believes CMI has appreciated much faster than fundamentals warrant and expects its performance to remain under pressure due to the challenging NAFTA Class 8 environment.
    • But Jaffray remains bullish on CMI, saying its China checks indicate continued improvement in the country, and Increased fiscal deficit spending has driven an uptick in freight demand.
    • Now read Machinery stocks poised for a pullback, analyst says
    | Thu, Apr. 21, 11:48 AM | 7 Comments
  • Wed, Apr. 6, 8:48 AM
    | Wed, Apr. 6, 8:48 AM | 10 Comments
  • Tue, Mar. 29, 11:09 AM
    • Cummins (CMI) and The Olayan Group have announced the formation of Cummins Arabia, a 50-50, three-country distribution joint venture in the Middle East.
    • The endeavor consolidates the distribution of Cummins products in the United Arab Emirates, Saudi Arabia and Kuwait.
    | Tue, Mar. 29, 11:09 AM | 4 Comments
  • Tue, Mar. 15, 9:00 AM
    • RBC Capital initiates Cummins (NYSE:CMI) at Sector Perform, with a $98 price target on shares.
    • Analyst Seth Weber sees a softening in NAFTA Class 8 truck cycle and challenges in other markets offsetting growth initiatives, industry position and engine efficiency efforts.
    | Tue, Mar. 15, 9:00 AM | 4 Comments
  • Mon, Mar. 14, 12:13 PM
    | Mon, Mar. 14, 12:13 PM | 5 Comments
  • Wed, Mar. 2, 6:37 PM
    • Machinery stocks such as Terex (NYSE:TEX), Caterpillar (NYSE:CAT), Deere (NYSE:DE), Cummins (NYSE:CMI), Joy Global (NYSE:JOY) and Manitowoc (NYSE:MTW) may have come too far too fast, J.P. Morgan analyst Ann Duignan asserts.
    • Duignan notes that at year-end 2015, the firm's machinery coverage was trading at a P/E multiple of ~14x estimated 2016 earnings, but at March 1, the group was trading at 16.3x; in terms of total shareholder returns, the group was up 5.5%, outperforming the S&P 500's YTD 2.8% loss.
    • Within construction stocks, TEX (+25.9%), CMI (+15.1%), MTW (+5.3%) and CAT (+3.0%) have outperformed while Oshkosh (NYSE:OSK) (-9.2%) has underperformed; in agriculture machinery, Agco (NYSE:AGCO) (+11.1%), Deere (+6.3%) and CNH Industrial (NYSE:CNHI) (-2.2%) have outperformed, while JOY (+5.9%) has outperformed in the mining equipment group.
    | Wed, Mar. 2, 6:37 PM | 18 Comments
  • Tue, Feb. 16, 8:33 AM
    • Cummins (NYSE:CMI) is reorganizing its manufacturing operations to adjust to weak global demand for power generation equipment.
    • Over the next 24 months, the company will relocate its generator set assembly operations located in Kent, U.K. to Daventry, U.K., India and China.
    • The footprint of the Cummins Kent site will be reduced as it's transformed into a regional distribution and logistics center.
    | Tue, Feb. 16, 8:33 AM | 1 Comment
Company Description
Cummins, Inc. operates as a diesel engine manufacturing company. It engages in the designing, manufacturing, marketing, distribution and servicing of diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust... More
Industry: Diversified Machinery
Country: United States