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INX:CMI, Aug 17, 03:51 UTC

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Thursday, August 09


News

Cummins Q1 net dips 17% to Rs 183 cr

CMI

New Delhi, Aug 9 () Engine-maker Cummins India today reported 17.56 per cent decline in its net profit at Rs 183 crore for the first quarter ended June 30. "Domestic sales in the current quarter declined 7 per cent over the same quarter last year. However, the same quarter last year had a strong tailwind from pre-buy on account of impending GST implementation effective July 1, 2017," Cummins India Managing Director Sandeep Sinha said. The company is also carrying forward orders into the current quarter as few of our suppliers faced supply constraints, he added. On business outlook, he added, "We are positive on the medium to long term outlook for domestic sales as underlying demand remains positive arising from sustained investments by the government in creating infrastructure for the Indian economy."

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Social Chatter

Cummins Inc (INX:CMI) social chatter is higher than usual

CMI
#EarningsWithETNOW | CUMMINS Q1FY19: Alert: Q1 FY18 last year PAT saw Rs 56 cr exceptional gains. https://t.co/BFGOx2nUl4

Wednesday, August 08


News

Cummins sets $500 million accelerated stock buyback plan

CMI

MARKET PULSE Cummins Inc. (cmi) said Wednesday it has entered into a $500 million accelerated stock repurchase (ASR) agreement with Goldman Sachs & Co. LLC. The engine maker's stock edged up 0.2% in premarket trade.

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News

Cummins Announces $500 Million Accelerated Share Repurchase

CMI

Cummins Inc. (CMI) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Goldman, Sachs & Co. LLC (GS&Co.) Today’s ASR is part of Cummins’ previously announced share repurchase plans authorized by the Board of Directors and is consistent with the company’s plans to return 75 percent of Operating Cash Flow to shareholders in 2018. Cummins serves customers in approximately 190 countries and territories through a network of approximately 500 company-owned and independent distributor locations and approximately 7,500 dealer locations. projected in such forward-looking statements because of a number of factors, including, but not limited to: (i) a sustained slowdown or significant downturn in our markets; (ii) our truck manufacturing and OEM customers discontinuing outsourcing their engine needs; (iii) the development of new technologies; (iv) the discovery of any significant additional problems with our engine platforms or aftertreatment systems in North America; (v) performance or safety-related recalls; (vi) lower than anticipated market acceptance of our new or existing products or services; (vii) a slowdown in infrastructure development and/or depressed commodity prices; (viii) unpredictability in the adoption, implementation and enforcement of increasingly stringent emissions standards around the world; (ix) our reliance on significant earnings from investees that we do not directly control; (x) the adoption and impact of new tax legislation; (xi) potential security breaches or other disruptions to our information technology systems and data security; (xii) financial distress or a change-in-control of one of our large truck OEM customers; (xiii) our pursuit of strategic acquisitions and divestitures; and (xiv) other risks detailed from time to time in our Securities and Exchange Commission filings, particularly in the Risk Factors section of our 2017 Annual Report on Form 10-K. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.

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Monday, August 06


News

Cummins (CMI) Rides on Strong Demand & Innovative Products

CMI

On Aug 3, we issued an updated research report on Cummins Inc. CMI.Headquartered in Columbus, IN, Cummins is a leading global designer, manufacturer, and distributor of diesel and natural gas engines, electric power generation systems, engine-related components, fuel systems, controls, and air handling systems.Higher demand for engines and components for heavy- and medium-duty trucks, along with an improved demand for mining and power generation equipment, is aiding the company. Cummins anticipates rise in China’s market share through JAIC’s partnership and the launch of new products with its four partners in China to be in line with the region’s NS VI emission standards.The stock has seen the Zacks Consensus Estimate for current-quarter earnings being revised 6% upward over the past 30 days.Price PerformanceIn the past year, shares of Cummins have underperformed sector it belongs to. Zacks Rank & Other Key PicksCummins currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the auto space are PACCAR Inc. PCAR, Fox Factory Holding Corp. FOXF and AB Volvo VLVLY. While both PACCAR and Fox Factory Holding sport a Zacks Rank #1 (Strong Buy), Volvo carries a Zacks Rank #2. Over the past month, shares of the company have gained 2.4%.Looking for Stocks With Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021.

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Friday, August 03


News

Is Cummins (CMI) a Great Dividend Play?

CMI

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases. The engine maker is paying out a dividend of $1.08 per share at the moment, with a dividend yield of 3.09% compared to the Automotive - Internal Combustion Engines industry's yield of 1.55% and the S&P 500's yield of 1.77%. From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. However, not all companies offer a quarterly payout.

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Wednesday, August 01


News

The Biggest Thing Revving Cummins' Engines Right Now

CMI

Companies like Cummins (NYSE: CMI) have to do the best they can during the good times while preparing for inevitable downward phases of the business cycle, and that can make for extraordinary performance at times followed by much less exciting results. Only long-term investors can truly appreciate the effort that goes into putting together a strategic plan that accounts for the ups and downs that Cummins faces. Coming into Tuesday's second-quarter financial report, Cummins investors had high hopes that improving conditions would lead to good results from the engine maker. As it turned out, Cummins managed to outpace even those optimistic views, and its outlook for the near future reassured shareholders even more. Cummins saw the best performance in China, Europe, and Latin America, in addition to its home market. For the most part, Cummins also saw balanced performance from its various business units. As we've seen previously, the components segment had the best sales gains, rising 30% on especially strong results in North America.

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News

Cummins Inc. (NYSE:CMI) - Cummins' Record Earnings Overshadowed By Recall Of 500,000 Truck Engines For Emissions Problem

CMI

Cummins Inc. announced record earnings for its second quarter this morning, and that news was immediately overshadowed by an engine recall that has already impacted 230,000 vehicles, mostly heavy-duty Ram pickups, and now will encompass an additional 500,000 heavy-duty truck models. The recall is related to a catalyst that degrades faster than expected, allowing Cummins engines to exceed emissions control limits. "It is noteworthy that the cause of the excess emissions was purely mechanical – the faster-than-expected degradation of the catalyst – and not the product of a ‘defeat device' or cheating on tests as was the case with 2009-2015 Volkswagen 2 and 3–liter diesel-powered passenger cars and SUVs," CARB said in a release. "Increased vigilance and testing led directly to a positive result. Our new heavy-duty in-use compliance program ensures that heavy-duty and other trucks already in operation meet the required emissions standards both in the lab and on the road," said CARB Chair Mary D. Nichols.

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News

3 Big Stock Charts for Wednesday: Cummins, Under Armour and Procter & Gamble

CMI PG

After dishing out a solid three-day post earnings gain, Advanced Micro Devices (NASDAQ:AMD) shares peeled back to the tune of 5.6%, while Baidu (NASDAQ:BIDU) fell nearly 2%. A lethargic environment means there’s less of a threat to the budding trends that show up on stock charts most people aren’t looking at. As Wednesday’s action begins, the stock charts offering the best odds of a predictable, trade-worthy move are Procter & Gamble (NYSE:PG), Under Armour (NYSE:UAA) and Cummins (NYSE:CMI). The past few weeks have proven surprisingly bullish for the consumer staples sector, and Procter & Gamble hasn’t been an exception to that trend. In fact, P&G could be considered the pace-setter and leader for the trend. Either way, the trend has developed a life of its own, so to speak, and is finding all the right help it needs in all the right places.

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Tuesday, July 31


News

Cummins Inc. (CMI) Q2 2018 Earnings Conference Call Transcript

CMI

Good day, ladies and gentlemen, and welcome to Cummins, Inc. Second Quarter 2018 Earnings Conference Call. During the second quarter, we finalized our plans and our forecast estimate for a previously disclosed product campaign to address the performance of an aftertreatment component in certain on-highway engines, produced between 2010 and 2015. We've reached agreement with the appropriate regulatory agencies regarding our proposed actions and we will launch that campaign in phases starting in the third quarter of this year, and expect to substantially complete the campaign by the end of 2020. Selling, admin and research and development costs of $832 million were $51 million higher than last year, with most of the increase occurring in research and development. As a percent of sales, selling, admin and research and development spending was 13.6%, a decrease as a percent of sales by 180 basis points from a year ago.

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