Cummins 4Q Profit Jumps 51% On North American Demand

Date : 02/02/2012 @ 8:36AM
Source : Dow Jones News
Stock : Cummins Inc. (CMI)
Quote : 167.98  1.5 (0.90%) @ 4:02PM

Cummins 4Q Profit Jumps 51% On North American Demand

Cummins (NYSE:CMI)
Historical Stock Chart

5 Years : From Sep 2012 to Sep 2017

Click Here for more Cummins Charts.

Cummins Inc.'s (CMI) fourth-quarter profit rose 51% as the company's North American market continued to show strength.

Shares were up 2.5% at $108.50 in premarket trading on much stronger-than-expected results.

Cummins' earnings have soared over the past two years as stronger demand for truck engines and parts in North America and other key markets drives stronger sales.

The maker of truck engines and power generation systems has also earned a string of credit upgrades from bond-rating agencies as its debt metrics and profitability improve.

Cummins reported a profit of $548 million or $2.86 a share, up from $362 million, or $1.84 a share, a year earlier. Excluding gains from business sales and insurance recovery, per-share earnings rose to $2.56 in the latest quarter as revenue rose 19% to $4.92 billion.

Analysts polled by Thomson Reuters expected $2.23 a share and $4.71 billion, respectively.

Gross margin widened to 25.2% from 23.8%.

Sales in the engines business, the company's largest top-line contributor, climbed 23% on strong demand for oil and gas engines in North America and expanding mining engine use around the world. Revenue from components was up 19%, also on demand from North America.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Latest CMI Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.