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Cummins reports Q1 earnings of $325 million

Cummins reports Q1 earnings of $325 million

COLUMBUS, Ind. — Cummins Inc. (CMI) has reported first-quarter earnings of $325 million.

The Columbus, Indiana-based company said it had profit of $1.96 per share. Earnings, adjusted for non-recurring costs and pretax expenses, came to $3.30 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.91 per share.

The engine maker posted revenue of $5.57 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $5.17 billion.

Cummins shares have dropped 9.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined 1 percent. The stock has climbed almost 6 percent in the last 12 months.

SOURCE: Automated Insights

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About Ronnie Garrett

Ronnie Garrett is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

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