Cummins profit rises on power generation

April 27, 2007

Columbus diesel engine maker Cummins Inc. today reported a 5.9-percent increase in first-quarter profit from the same period a year ago. The $143 million in net income was driven mostly by its electrical power generation and distribution business.

Sales of engines for heavy trucks declined due to trucking firms’ stocking up on trucks before new emission regulations went into affect.

Cummins stock has been on a tear since CNBC “Mad Money” host Jim Cramer began touting the stock this month and Italy-based Fiat this week announced it would like to enter the U.S. truck market through an acquisition.

In pre-trading activity this morning, the shares are up nearly 6 percent, to $91.10. As recently as April 19, the stock traded at $73.80.

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