Tue, Apr. 28, 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
Tue, Apr. 28, 7:31 AM
Mon, Apr. 27, 5:30 PM
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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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Oct. 28, 2014, 8:10 AM
- Net income of $423M, or $2.32 per diluted share vs. $355M, or $1.90 per diluted share in the third quarter of 2013.
- Revenue by segment: Components +20%; Power Generation +6%; Distribution +37%.
- The company repurchased 1.2M shares during the quarter, putting it on track to return 50% of annual operating cash flow to shareholders.
- Q3 results
- CMI +3.9% premarket
Oct. 28, 2014, 7:33 AM
Oct. 27, 2014, 5:30 PM
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Jul. 28, 2014, 8:59 AM
- Cummins (NYSE:CMI) reported a 7% Y/Y increase in Q2 revenue, climbing to $4.8B due to stronger demand in on-highway markets and distributor acquisitions in North America. Full year revenue is now expected to grow between 8 and 11%.
- EBIT climbed to $657M (13.6% of sales), compared to $621M (13.7% of sales) a year ago. Full year EBIT is expected to be in the range of 12.75% to 13.25% of sales.
- Net income rose to $446M, $2.43 per diluted share, vs. $414M, $2.20 per diluted share Y/Y.
- Q2 earnings
Jul. 28, 2014, 7:31 AM
Jul. 27, 2014, 5:30 PM
Apr. 29, 2014, 8:49 AM
- Cummins (CMI) +3.4% premarket after easily beating expectations for Q1 earnings and revenue, as strong demand for its engines and vehicle components in North America offset weakness in many other parts of the world.
- Raises its FY 2014 guidance, seeing revenues rising 6%-10% vs. its previous forecast of 4%-8% growth, due largely to improving demand in North America; expects EBIT of 12.75%-13.25% of sales.
- Engine sales rose 11% Y/Y to $2.6B, driven by stronger demand in on-highway markets in North America; components sales jumped 21% to $1.2B.
Apr. 29, 2014, 7:31 AM
Apr. 28, 2014, 5:30 PM
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Feb. 6, 2014, 8:57 AM
- Cummins (CMI) -2.9% premarket even after posting better than expected Q4 earnings and revenue, but the world's largest engine manufacturer based on sales offered a disappointing outlook.
- CMI expects 2014 revenue to rise 4%-8% Y/Y, but analysts had forecast revenue growth of 11%.
- Q4 North American revenue rose 3%, but was offset by international revenue, which slipped 4% from sales declines in Mexico, India, Australia and Europe.
- In the engine segment, sales gained 2% to $2.56B because of strong demand for construction equipment in international markets and increased demand for medium duty trucks in North America.
- Components sales climbed 21% on higher demand in on-highway markets in North America, Europe and China.
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