First Quarter Revenues for Cummins Decreased Y-o-Y
Cummins Inc. reported first quarter revenues of $3.9 billion decreased 12% from the first quarter of 2012. 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.
Cummins Inc. reported first quarter revenues of $3.9 billion decreased 12% from the first quarter of 2012.
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.
More Fleet Management
How Innovative Trucking Leaders Turn Change Into an Advantage
As the pace of change accelerates in trucking, the fleets that adapt best have more than the latest technology. They have cultures that embrace improvement.
Read More →
Freight Broker Bonds Just Got Harder to Get. Here's What That Means for Your Fleet.
When it gets harder for a freight broker to prove they are financially sound, the ones who cannot clear that bar get pushed out of the market. And those are exactly the brokers who used to leave motor carriers holding the bag.
Read More →
Long-Awaited Canadian Border Bridge to Open in Detroit
For trucking, the bridge opening should offer immediate improvements in efficiency and reliability, with new customs facilities, expanded inspection capacity, and direct freeway-to-freeway connections.
Read More →
Aurora Rolls Out Next Generation of Driverless Trucks for Commercial Freight
Aurora's latest autonomous trucks it's rolling out with International feature lower-cost hardware designed for a million miles as the company expands commercial driverless freight operations across the U.S. Sun Belt.
Read More →
Freight Tonnage Down, Rates up, as Lower Capacity Powers Trucking Recovery
The recovery from the freight recession continues to be driven by reduction in capacity rather than by increased demand.
Read More →
Think Your Trucking Fleet Isn't Using Much AI? Think Again
Shadow AI — the use of unauthorized artificial intelligence tools at work — is becoming increasingly common, putting sensitive company data at risk. Learn how trucking fleets can protect sensitive data while embracing AI.
Read More →
ArcBest Consolidates Brands, Cuts Workforce
The company will bring three business units under the ArcBest brand, eliminate about 2% of positions, and expects the changes to generate $40 million in annual savings.
Read More →
Trucking Fleets Faced Record Operating Costs During Third Year of Freight Recession
ATRI's annual operational cost report shows carriers trimmed fleets, delayed equipment purchases, and ran older trucks as expenses continued to outpace freight rates.
Read More →
Michelin Adds AI Assistant to MyConnectedFleet Platform
Michelin’s new generative AI tool delivers instant fleet insights, helping managers analyze fuel use, tire maintenance, vehicle status, and operational performance without manually creating reports.
Read More →
LytxOne Platform Now Features AI, Compliance, and Asset Tracking Tools
New enhancements add AI-powered insights, asset tracking, compliance automation, and configurable privacy controls to Lytx's all-in-one fleet management platform.
Read More →