Cummins Touts Record Q2 Sales

Posted: Updated:
(Image courtesy of Cummins Inc.) (Image courtesy of Cummins Inc.)

Columbus-based Cummins Inc. (NYSE: CMI) is reporting second quarter net income of $675 million, compared to $545 million during the same period last year. The company says North American sales hit a new record, up seven percent.

The manufacturer saw a one percent increase in quarterly revenue to $6.2 billion, driven by increased truck production in North America and stronger demand in North American power generation markets. International revenues decreased by 6 percent with lower truck demand in China, Europe, Brazil, and India. 

“We achieved record revenues, EBITDA, and operating cash flow in the first half of 2019, extending our track record of raising performance cycle over cycle,” said Chairman and CEO Tom Linebarger.

Looking ahead to the rest of 2019, Cummins expects revenues to be flat, driven by continuing reduced truck demand in international markets. “While we do expect to see a moderation in demand in the second half of the year, our financial strength combined with our diversified geographic and end market exposure will enable us to generate strong profits, continue to invest in future growth, and return cash to shareholders,” said Linebarger.

Also during the quarter, Cummins entered into a definitive agreement to acquire the majority of shares of fuel cell systems provider Hydrogenics Corporation, a Canadian-based company.

Read the full financial report by clicking here.

  • Perspectives

    • Why Blogging Without Rules Produces the Best Content

      I spend a lot of time talking with people about what makes writing good. Depending on who you ask, good writing might be exciting and illustrative. It might be simple and efficient. If you ask someone who works in marketing, good writing translates to whatever helps a marketing strategy generate more leads, or more sales, or more of whatever a business is looking to gain. Though I fully respect and agree with this results-oriented perspective on content, in practice it can be...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Timothy Rushenberg

      Electric Co-Op Names VP

      The Indiana Electric Cooperatives has named Timothy Rushenberg vice president of government relations. He most recently served as vice president of the Indiana Energy Association. Rushenberg has also served with the Indiana Manufacturers Association and the Indiana Department of Local Government Finance.  

    • Alexa Deaton and Colby Shank

      Higher Ed Commission Promotes Two

      The Indiana Commission for Higher Education has promoted Alexa Deaton to associate commissioner and Chief Financial Officer. She previously served as director of accounting. Also, Colby Shank has been promoted to associate commissioner for student financial aid, a new position for the organization. He most recently served as assistant commissioner for financial and student support services.