Cummins expects profit to grow 10 percent a year

Back to TopCommentsE-mailPrintBookmark and Share

Columbus-based Cummins Inc., North America’s largest maker of heavy-duty diesel truck engines, expects pretax profit to increase 10 percent a year and sales to grow 13 percent annually over the next five years amid rising infrastructure spending.

By 2014, earnings will reach $8 to $8.50 a share and revenue will reach $20 billion, Cummins said Tuesday in a presentation to investors. The company earned $2.49 a share last year on sales of $10.8 billion.

Cummins in February forecast a return to “strong growth” in 2011 and said sales and earnings this year would be similar to last year. Engine sales in the first half of 2010 to North America and Europe will be slow as customers bought in advance of a 2010 emissions deadline requiring costlier engines, the company said last month.

Cummins shares fell 19 cents, to $60.03, at 9:49 a.m. in New York Stock Exchange composite trading. The stock has more than doubled in the past 12 months.

Revenue in China and India will return to pre-recession levels in 2010, with “solid” increases in Brazil, Cummins said last month.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ