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Cummins Does a 1Q 180º

Published Thursday, April 22, 2004

Cummins Inc. reported 1Q net income of $33 million— a reversal over its 1Q 2003 loss of $31 million. The company cites robust sales volumes, and productivity gains as factors in this turnaround. Sales gained 28% over the same period last year, as all four of its operating segments were profitable, including its largest segment— engines. Total 1Q sales soared 40% to $1.1 billion for engines “with significant improvement in the North American heavy-duty truck and global medium-duty truck markets,” according to the report. Cummins expects market growth for North American heavy-trucks to exceed 30% by the end ...

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