Cummins’ Second-Quarter Income Rises on Higher North America Sales
Engine maker Cummins Inc. said July 28 its second-quarter profit improved on higher North American sales.
Columbus, Indiana-based Cummins reported net income rose to $446 million, or $2.43 a share, from $414 million, or $2.20, a year ago.
Sales rose 7% to $4.8 billion, driven by a 14% jump in North American revenue, which offset international sales that declined 1%.
“Demand is growing in on-highway markets in North America this year as the economy improves, and we have gained market share in medium duty truck and bus markets. Our components business delivered very strong results in the second quarter, generating record sales and profits,” Chairman and CEO Tom Linebarger said in a statement.
The company expects full-year revenue to grow 8% to 11%, up from its previous forecast of 6% to 10%, largely due to improving North American demand.
