Today, 7:51 AM
- Net income grew 14% to $387M, or $2.14 per diluted share vs. $338M, or $1.83 per diluted share in the first quarter of 2014.
- Revenue by segment: Engine +1%; Distribution +2%; Components +6%; Power Generation +6%.
- Repurchased 1M shares during the quarter.
- "We expect profitability for the remainder of the year to increase from first quarter levels as revenues improve and we capture more benefits from cost reduction activities," CEO Tom Linebarger said.
- The company expects full year 2015 revenues to grow between 2%-4%, and EBIT in the range of 13.5%-14% of sales.
- Q1 results
- CMI +0.9% premarket
Today, 7:31 AM
Yesterday, 5:30 PM
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Wed, Apr. 15, 2:27 PM
- Cummins (CMI +0.5%) is higher despite a downgrade to Hold from Buy at Stifel, which believes that several factors including declining Class 8 equipment orders, lower than anticipated market share in the Class 8 market, and continued international headwinds, may hit investor sentiment and continue to pressure the stock.
- Stifel believes monthly Class 8 equipment orders could slow more than the seasonal norm this springs-summer, driven by historically large OEM backlogs and dwindling available build slots remaining in 2015.
Wed, Apr. 8, 10:16 AM
- Cummins (CMI -0.6%) is downgraded to Neutral from Buy with a $155 price target at Goldman Sachs, which points to a sustained multi-year downturn for capital goods demand in commodity exporting countries.
- Goldman sees an increasingly challenging multi-year outlook for South America, Asia and Middle East machinery demand, while CMI’s $2.5B U.S. product cycle that had been central to the firm's positive view has been largely realized.
- The firm likes CMI’s $500M product cycle in China where the Foton Cummins JV is in the early stages of displacing third-party engines, but it believes the U.S. market share risk-reward appears balanced.
Tue, Mar. 24, 7:09 AM
- Baird lifts its rating on Cummins (NYSE:CMI) to Overweight from Neutral.
- A price target of $166 is set by Baird on the truck industry manufacturer.
- The investment firm is calling for the breakout from the tight trading range of Cummuns over the last five months on the strength of the North America truck market.
- CMI +0.81% premarket.
Thu, Mar. 19, 1:44 PM
- Class 8 truck orders rose 7% Y/Y to 31.1K in February.
- Sales of Class 5 - Class 7 trucks were up 2% to 19.7K.
- ACT analyst Kenny Vieth says a 2015 build schedule which is flying by quickly means it's unlikely robust growth can be seen beyond April or May.
- Related stocks: PCAR, OTCPK:VOLVY, NAV, CMI, OTCPK:DDAIF.
Thu, Feb. 12, 2:42 PM| Comment!
Mon, Feb. 9, 8:14 AM
- Susquehanna has downgraded Cummins (NYSE:CMI) to Neutral from Positive and lowered its price target to $148 from $168 citing a more challenging macro environment.
- The firm sees increased headwinds in power generation, a peaking U.S. Class 8 truck cycle for engines and decelerating components growth.
- Atlantic Equities has also weighed in on Cummins, downgrading the stock to Neutral from Overweight.
- CMI -1% premarket
Mon, Feb. 9, 6:10 AM
Thu, Feb. 5, 9:16 AM
- Cummins (NYSE:CMI) -3.6% premarket after Q4 results edged Wall Street estimates, but the diesel engine maker cut its FY 2015 revenue forecast, citing weak demand in international markets and a strong dollar.
- CMI, which gets more than half its revenue from outside the U.S., now sees full-year revenue growth of 2%-4%, which equates to $19.6B-$20B and below its earlier outlook for $20B-$23B; analysts had been eyeing $20.9B in revenues on 9% growth.
- The weak forecast overshadows an 11.2% Y/Y gain in Q4 revenue to $5.1B, driven by strong demand for the company's truck engines in North America; revenues for the full year totaled a record $19.2B, up 11% Y/Y, on improving demand in on-highway markets in North America.
- Says it is maintaining its commitment to return half of operating cash flow to shareholders in 2015.
Thu, Feb. 5, 7:35 AM
Wed, Feb. 4, 5:30 PM
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Tue, Jan. 27, 3:58 PM
- Cummins (CMI -3.8%) is downgraded to Market Perform from Outperform at First Global despite delivering a respectable performance for the final nine months of 2014.
- CMI’s industrial engines are highly exposed to the construction and mining industries which are being impacted by weak capital spending in China and other emerging markets, the firm says; also, demand in the Chinese and Brazilian truck markets remains weak.
- At 13.9x estimated CY 2015 earnings, CMI shares already trade at a moderate premium to peers such as Caterpillar, First Global adds.
- CMI and other equipment manufacturers are broadly lower following Caterpillar's (CAT -7.2%) disappointing quarter: JOY -5.3%, MTW -5.1%, DE -2.7%, CNHI -1.9%.
Tue, Jan. 27, 2:35 PM
Nov. 17, 2014, 8:20 AM
- A positive article in Barron's on Cummins (NYSE:CMI) appears to be giving the stock a premarket boost.
- Shares of Cummins could rise by as much as 15% over the next year as its North American market could prove stronger than some expect. In addition to strength in North America, its business abroad could improve, especially in China.
- In the U.S., a recovering economy, along with tight rail capacity and aging truck fleets, is driving truckers to buy new vehicles. Several analysts think that the order upturn could last at least through 2016.
- CMI +0.3% premarket
- Source: Barron's
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