Cummins tops expectations despite lower profit, sales

  • Comments
  • Print

Engine manufacturer Cummins Inc. on Tuesday reported lower profit and revenue in the second quarter, but the results topped Wall Street expectations.

Columbus-based Cummins said earnings in the second quarter were $469 million, or $2.47 per share, compared with $505 million, or $2.60 per share, in the same period a year ago.

Excluding gains from divestitures, Cummins earned $2.45 per share, topping the average analyst forecast of $2.28, according to Thomson Reuters.

Second quarter revenue of $4.45 billion was down 4 percent from the same quarter of 2011.

The company said growth in North America offset weakness in international markets, particularly China and Brazil.

Sales fell 2 percent in the company’s engine segment, to $2.8 billion, and were flat in the components and power-generation segments. Sales in the distribution segment rose 1 percent, to $794 million.

Cummins shares were up 6.3 percent, to $96.15, in early trading.
 

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In