Cummins Swings to Quarterly Loss

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(Image courtesy of Cummins Inc.) (Image courtesy of Cummins Inc.)
COLUMBUS -

Columbus-based Cummins Inc. (NYSE: CMI) is reporting a fourth quarter net loss of $274 million, compared to net income of $378 million during the same quarter the previous year. Despite the drop, the company is reporting a 22 percent increase in revenues for the quarter.

Cummins is also reporting full-year net income of $999 million in 2017, down from $1.4 billion the previous year. Chief Executive Officer Tom Linebarger says the company delivered strong growth and "solid profitability" for the year.

"We expect demand to remain strong in many of our core markets in 2018 and profitability to improve as a result of higher sales and continued execution of our cost reduction initiatives," said Linebarger. "The Company again plans to return at least 50 percent of Operating Cash Flow to shareholders in 2018."

You can connect to the full earnings report by clicking here.

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