Cummins Inc.’s fourth-quarter operating profit and sales fell on weaker North American trucking and construction markets, the engine maker said Wednesday.
Net income fell to $381 million, or $2.02 per share, from $548 million, or $2.86 per share, a year earlier. Sales fell 13% to $4.3 billion.
For the full year, Cummins earned $1.66 billion, or $8.74 per share, down from $1.85 billion, or $9.55, in 2011. Net sales fell to $17.3 billion, from $18 billion a year ago.
Its engine unit’s fourth-quarter earnings before interest and taxes fell to $272 million from $368 million a year earlier, as engine sales dropped 18%.
Heavy-duty truck engine sales for the quarter fell to $609 million from $$865 million a year earlier, but rose for the year to $2.96 billion, from $2.79 billion in 2011.
Strong demand for bus and light-duty engines in North America in the quarter was more than offset by reduced demand in the North American heavy-duty truck market, Brazil’s truck market, global construction and the North American oil and gas and international mining markets, Cummins said.