The Columbus-based engine maker’s third-quarter revenue and net income rebounded better from pandemic-related lags than analysts had expected.
Cummins exceeds expectations despite historic drop in quarterly revenue
Cummins said it expects sales to improve in the third quarter, although the pandemic continues to create considerable uncertainty.Read More
Cummins’ stock jumps after quarterly results exceed expectations
The Indiana-based engine manufacturer warned that the second quarter will be much more difficult, with production and demand largely sidelined by the pandemic.Read More
Cummins to suspend production at southern Indiana plants
The engine-maker says it will close three Columbus manufacturing sites and one in Seymour until May 4. The news comes a day after the company announced that it would temporarily reduce the salaries of its U.S. employees by 10% to 25%.Read More
Cummins reducing executive, employee pay, citing coronavirus
The action affects employees as well as the Columbus-based engine maker’s CEO and board members. The company said it will re-evaluate the temporary pay cuts at the end of the second quarter.Read More
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.
Increasingly, as the planet warms, pressure is building from environmentalists, investors, consumers and the general public for corporate America to do something about it.
Indiana firms restrict travel, postpone product intros, distribute hand sanitizer in reaction to coronavirus
A growing number of employers have restricted international travel and are now considering what they might need to do within the U.S.
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Volkswagen has offered to buy the rest of Navistar International Corp. to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo.
Prosecutors say the 54-year-old man diverted more than $4.5 million of money from Cummins and other companies over a nine-year period.
On Friday morning at Engage Indiana 2019, Tom Linebarger evangelized for a model of doing business that emphasizes maintaining strong relationships with all stakeholders—employees, community leaders, corporate partners, government officials and shareholders—rather than only focusing on self-serving interests.
Cummins said the layoffs are part of a wider effort to trim up to $300 million in costs in response to a slowdown in sales demand.
Indiana-based engine manufacturer Cummins Inc. fell short of revenue and profit predictions with its third quarter results.
Cummins isn’t alone in its neighborhood approach. Multiple Indianapolis companies are choosing to focus their philanthropy on a particular neighborhood as a way to make a greater impact.
Score one for J. Irwin Miller, who during his quarter century atop Cummins Inc. championed corporate social responsibility—a stance that put him at odds with economist Milton Friedman, the 20th century’s most prominent advocate of free markets.
The retirement of President and Chief Operating Officer Rich Freeland will spark several executive-level promotions at the Indiana-based manufacturer.
Shares of the Columbus-based engine maker dropped in early trading after second quarter results missed analyst expectations, even though sales and profit were up over a year ago.
The move comes as Cummins, long known as a diesel engine powerhouse, expands its efforts in alternative powertrain technologies.
Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.
Indiana-based Cummins will check certification and compliance processes for engines in the 2019 Ram 2500 and 3500 trucks after conversations with the U.S. Environmental Protection Agency and the California Air Resources Board, the company said.
The Columbus-based engine-maker, which saw revenue increase 16 percent last year, expects revenue in 2019 to fall between flat and up 4 percent.