AP NEWS

Cummins: 4Q Earnings Snapshot

February 6, 2019

COLUMBUS, Ind. (AP) _ Cummins Inc. (CMI) on Wednesday reported fourth-quarter net income of $579 million, after reporting a loss in the same period a year earlier.

The Columbus, Indiana-based company said it had profit of $3.63 per share. Earnings, adjusted for pretax gains, were $3.48 per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.82 per share.

The engine maker posted revenue of $6.13 billion in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $6.09 billion.

For the year, the company reported profit of $2.14 billion, or $13.15 per share. Revenue was reported as $23.77 billion.

Cummins shares have risen 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 9 percent. The stock has dropped 16 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMI at https://www.zacks.com/ap/CMI

AP RADIO
Update hourly