TopNews

First Quarter Revenues for Cummins Decreased Y-o-Y

May 3, 2013

SHARING TOOLS        | Print Subscribe

Cummins Inc. reported first quarter revenues of $3.9 billion decreased 12% from the first quarter of 2012.

ADVERTISEMENT

Revenues in North America declined by 15% and international revenues declined by 10% as the company experienced weaker demand in most major geographies and end markets.

Earnings before interest and taxes were $437 million or 11.1% of sales, compared to $658 million or 14.7% of sales a year ago.

Net income attributable to Cummins in the first quarter was $282 million ($1.49 per diluted share), compared to $455 million ($2.38 per diluted share) in the first quarter of 2012.

The most significant decline in demand occurred within the Engine Business, with total unit volumes down 18% year-over-year. Shipments of high horsepower engines declined by 24% due to weakness in mining, oil and gas and power generation markets.

Based on the current forecast, the company expects full year revenues to be flat to down 5% and EBIT to be in the range of 13% to 14% of sales.

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.



GotQuestions?

LUBRICANTS

The expert, Mark Betner from Citgo will answer your questions
Ask a question

Sponsored by


WHEEL ENDS SOLUTIONS

Wheel end expert Jeff Geist from STEMCO will answer your questions
Ask a question

Sponsored by

Magazine