Cummins Reports Higher 2Q Profit as Heavy-Duty Engine Sales Rise
The engine maker’s net income rose to $471 million, or $2.62 per share, from $446 million, or $2.43, a year ago.
Total revenue rose 4% to $5 billion, the Columbus, Indiana-based manufacturer said in its July 28 report.
Sales at Cummins’ engine segment increased 2% to $2.8 billion, while that unit’s operating income increased to $341 million, from $311 million a year ago. Strong demand in the North American truck and bus markets was partially offset by weaker demand in global industrial markets and lower truck demand in Brazil, Cummins said.
The company said heavy-duty truck engine sales rose to $875 million in the second quarter, compared with $769 million a year earlier. Heavy-duty engine shipments increased to 32,800 units, from 30,300.
Meanwhile, sales at Cummins’ components segment rose 9% to $1.4 billion, while operating income rose to $223 million from $185 million a year ago, led by stronger demand in on-highway markets in North America and China.
