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Cummins Announces Third Quarter Results; Maintains Outlook for 2018

Publish date: 10/30/2018
Third quarter revenues of $5.9 billion GAAP1 Net Income of $692 million and Diluted EPS of $4.28 Record EBITDA of $983 million or 16.5 percent of sales Full year revenues expected to increase 15 to 17 percent Full year EBITDA is expected to be 14.8 to 15.2 percent of sales COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 30, 2018-- Cummins Inc. (NYSE: CMI) today reported results for the third quarter of 2018. Third quarter revenues of $5.9 billion increased 12 percent from the
Third quarter revenues of $5.9 billion GAAP1 Net Income of $692 million and Diluted EPS of $4.28 Record EBITDA of $983 million or 16.5 percent of sales Full year revenues expected to increase 15 to 17 percent Full year EBITDA is expected to be 14.8 to 15.2 percent of sales COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 30, 2018-- Cummins Inc. (NYSE: CMI) today reported results for the third quarter of 2018. Third quarter revenues of $5.9 billion increased 12 percent from the
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Hyundai Construction Equipment & Cummins Develop Electric Powered Mini Excavator Prototype

Publish date: 10/30/2018
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 29, 2018-- Cummins Inc. (NYSE: CMI) and Hyundai Construction Equipment (HCE) announced today they have jointly developed an electric powered mini excavator. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181029005466/en/ "As electric vehicles continue to expand their share in the automotive market, we are simultaneously seeing the electrification of commercial
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 29, 2018-- Cummins Inc. (NYSE: CMI) and Hyundai Construction Equipment (HCE) announced today they have jointly developed an electric powered mini excavator. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181029005466/en/ "As electric vehicles continue to expand their share in the automotive market, we are simultaneously seeing the electrification of commercial
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Cummins Inc. Approves Share Repurchase Program; Declares Quarterly Common Stock Dividend

Publish date: 10/10/2018
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 9, 2018-- On October 9, The Board of Directors of Cummins Inc. (NYSE: CMI) authorized the Company to repurchase up to $2 billion in shares of common stock upon completion of its 2016 $1 billion share repurchase program. The Board of Directors also declared a quarterly cash dividend on common stock at 1.14 dollars per share, payable on December 3, 2018 to shareholders of record on November 15, 2018. "The latest share repurchase program and dividend reinforces our commitment to delivering strong returns to shareholders and reflects our
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 9, 2018-- On October 9, The Board of Directors of Cummins Inc. (NYSE: CMI) authorized the Company to repurchase up to $2 billion in shares of common stock upon completion of its 2016 $1 billion share repurchase program. The Board of Directors also declared a quarterly cash dividend on common stock at 1.14 dollars per share, payable on December 3, 2018 to shareholders of record on November 15, 2018. "The latest share repurchase program and dividend reinforces our commitment to delivering strong returns to shareholders and reflects our
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Cummins and Isuzu Sign Letter of Intent to Evaluate Partnership Opportunities

Publish date: 10/04/2018
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 4, 2018-- Cummins Inc. (NYSE: CMI) and Isuzu Motors Limited announced today that they have signed a Letter of Intent to jointly evaluate opportunities to deliver globally competitive products. In the commercial vehicle space, power sources are increasingly becoming more diverse and emissions regulations continue to grow more stringent around the world. Significant investment will be required to deliver the best next generation diesel and natural gas based powertrain solutions as well as alternative powertrains, connectivity and autonomy that our
COLUMBUS, Ind.--(BUSINESS WIRE)--Oct. 4, 2018-- Cummins Inc. (NYSE: CMI) and Isuzu Motors Limited announced today that they have signed a Letter of Intent to jointly evaluate opportunities to deliver globally competitive products. In the commercial vehicle space, power sources are increasingly becoming more diverse and emissions regulations continue to grow more stringent around the world. Significant investment will be required to deliver the best next generation diesel and natural gas based powertrain solutions as well as alternative powertrains, connectivity and autonomy that our
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Cummins Inc. Signs Agreement With KAMAZ

Publish date: 09/20/2018
COLUMBUS, Ind.--(BUSINESS WIRE)--Sep. 20, 2018-- Cummins Inc. (NYSE: CMI) signed a Memorandum of Understanding (MOU) with KAMAZ for the development of electrified power solutions for a new product line of KAMAZ battery-powered vehicles. Currently, KAMAZ is actively developing a new electrified portfolio of battery-powered trucks and buses, and Cummins continues to expand its powertrain portfolio by developing electric power systems (fully electric and hybrid type) for commercial applications. “Cummins has made strategic moves to bolster our Electrified Power
COLUMBUS, Ind.--(BUSINESS WIRE)--Sep. 20, 2018-- Cummins Inc. (NYSE: CMI) signed a Memorandum of Understanding (MOU) with KAMAZ for the development of electrified power solutions for a new product line of KAMAZ battery-powered vehicles. Currently, KAMAZ is actively developing a new electrified portfolio of battery-powered trucks and buses, and Cummins continues to expand its powertrain portfolio by developing electric power systems (fully electric and hybrid type) for commercial applications. “Cummins has made strategic moves to bolster our Electrified Power
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