IBJNews

Cummins' profit rises on strong overseas sales

Back to TopCommentsE-mailPrintBookmark and Share

Strong demand overseas helped Cummins Inc. realize stronger-than-expected quarterly results, the Columbus-based diesel engine manufacturer announced Tuesday morning.

Cummins posted a second quarter profit of $246 million, or $1.25 a share, up from $56 million, or 28 cents a share, during the same time frame last year.

Quarterly revenue rose 32 percent, to $3.2 billion.

Analysts had expected the company to report a profit of 92 cents a share on revenue of $2.8 billion, according to Thompson Reuters.

Cummins said sales outside the United States, which account for about two-thirds of its annual revenue, jumped 51 percent during the quarter.

“The work we have done to strengthen our manufacturing operations during the downturn has resulted in significant productivity gains, and we continue to benefit from our leadership position in large and growing international markets such as China, India and Brazil,” Cummins Chairman and CEO Tim Solso said in a prepared statement.

Overseas sales helped offset continued weakness in the North American commercial truck market.

Cummins raised its forecast for the full year and  now expects to report earnings before interest and taxes of 12 percent of sales on revenue of $13 billion.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

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