Cummins’ 1Q Income Gains as North America Sales Jump 25%
Engine maker Cummins Inc. said April 29 its first-quarter profit improved on higher North American sales.
Columbus, Indiana-based Cummins reported net income rose to $338 million, or $1.83 a share, from $282 million, or $1.49, a year ago.
Sales rose 12% to $4.4 billion, driven by a 25% jump in North American revenue, which offset flat international sales.
“We delivered good incremental margins . . . as demand in on-highway markets in North America improved,” Chairman and CEO Tom Linebarger said in a statement.
The company expects full-year revenue to grow 6% to 10%, up from its previous forecast of 4% to 8%, largely due to improving North American demand.
