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

Ronnie Wendt

Ronnie Wendt

Ronnie Wendt has been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and 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. She is the owner of In Good Company Communications and can be reached at ingoodcompanycommunications@gmail.com.

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