Cummins’ 2Q Income Dips; Heavy-Duty Engine Sales Improve

Cummins Inc. said Tuesday its second-quarter profit slipped from a year ago but its heavy-duty truck engine sales improved.

Net income dipped to $469 million, or $2.47 per share, from $505 million, or $2.60, a year ago. Revenue fell 4% to $4.45 billion.

Overall engine sales fell 2% to $2.8 billion, with segment earnings before interest and taxes flat at $376 million. Component segment sales were flat $1 billion.

Heavy-duty truck engine sales rose to $802 million, from $693 million a year ago.

Improved demand in North American heavy- and medium- and light-duty truck and construction markets was offset by lower sales to Chinese construction, Brazilian truck and North American oil and gas markets.

Cummins said it expects its full-year revenue to be $18 billion.