- Net income of $541M, or $3.29 per diluted share vs. $424M, or $2.53 per diluted share in the same quarter a year ago.
- Revenue by segment: Engine +17%; Distribution +16%; Components +30%; Power Systems +23%.
- During the second quarter, the company also finalized plans for a previously disclosed product campaign and recorded a pre-tax charge of $181M for the expected costs of the campaign.
- Returned $393M to shareholders in the form of dividends and share repurchases in the first quarter.
- Raised outlook for 2018: Revenue growth of 15%-17% (from 10%-14%), while EBITDA is expected to be in the range of 14.8%-15.2% (from 15.4%-15.8%) - reflecting approximately $100M of expense associated with trade tariffs and increased commodity costs.
- CMI +2.8% premarket
- Q2 results