Cummins’ 1Q Profit More Than Doubles

Engine maker Cummins Inc. said Tuesday its first-quarter profit more than doubled from a year ago as international markets soared.

Cummins earned $343 million, or $1.75 per share, up from $149 million, or 75 cents, a year earlier. Sales jumped 56% to $3.9 billion.

Non-U.S. markets accounted for 61% of its first-quarter revenue, the company said. Sales rose 66% in China, 31% in India, 39% in Brazil and 40% in Africa and the Middle East.

Cummins forecasted $17 billion in sales for 2011, up from $13.23 billion last year.

Engine sales rose 68% to $2.4 billion from a year ago, and Cummins said the year-ago quarter “was artificially weak due to a change in emissions standards and the economic downturn.”

Engine segment earnings before interested and taxes totaled $290 million, or 12.1% of sales, a quarterly record. That compared with $133 million a year ago.

Engine shipments in the global heavy-duty truck market more than tripled year-over-year, while medium-duty truck engine shipments more than doubled, the company said.