Cummins quarterly profit rises, affirms guidance
May 1 (Reuters) - Diesel engine maker Cummins Inc reported a 33 percent rise in quarterly profit on Tuesday due to strength in the North American truck and construction markets and growth in the global mining business.
The company reported net earnings of $455 million, or $2.38 per share, compared with $343 million, or $1.75 per share, a year earlier.
Sales for Cummins rose 16 percent to $4.5 billion during the first quarter, the company said.
The company also reaffirmed its previous forecast that earnings before interest and taxes are expected to represent 14.5 percent to 15 percent of sales in 2012, or nearly $3 billion. That compares with $2.56 billion in 2011.