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Cummins Inc (CMI)

CMI on New York Consolidated

166.94USD
18 Sep 2017
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Latest Key Developments (Source: Significant Developments)

United Rentals expands power & HVAC fleet with acquisition of portable power assets
Tuesday, 22 Aug 2017 05:46pm EDT 

Aug 22 (Reuters) - United Rentals Inc :‍Has acquired power equipment assets, primarily mobile rental generator sets, from Cummins Inc​.‍Acquisition involves Cummins mobile rental generator fleet, which ranges from 150 kilowatts to 2 megawatts in output​.  Full Article

Cummins plans to spend between $500 mln-$530 mln in 2017 on capital expenditures
Tuesday, 1 Aug 2017 02:08pm EDT 

Aug 1 (Reuters) - Cummins Inc :Says continues to invest in new product lines and targeted capacity expansions - sec filing.Says plans to spend between $500 million and $530 million in 2017 on capital expenditures.Says about 50 percent of capital expenditures are expected to be invested outside of the U.S. In 2017.  Full Article

Cummins intends to provide fully electrified power train - Conf call
Tuesday, 1 Aug 2017 10:03am EDT 

Aug 1 (Reuters) - Cummins Inc :Cummins expects 2017 engine revenue to rise 10-12 percent versus an increase of 2-6 percent, previously; sees ebit margins of 10.50-11.50 percent of sales versus 10.25-11.25 percent previously.Cummins expects 2017 distribution revenue to rise 9-11 percent versus an increase of 4-8 percent, previously; sees ebit margins of 5.75-6.25 percent of sales versus 6.00-6.75 percent, previously.Cummins expects 2017 components revenue to rise 13-15 percent versus an increase of 6-10 percent, previously; sees ebit margins of 13.00-13.50 percent of sales versus 12.50-13.50 percent, previously.Cummins expects 2017 power systems revenue to rise 8-10 percent versus an increase of 1-5 percent, previously; sees ebit margins of 7.00-8.00 percent of sales, unchanged from previous forecast.Cummins says some segments in the market that it serves will find electrified power trains to be advantageous in the next 5 or 10 years.Cummins says it intends to provide a fully electrified power train, as well as hybrid or range-extended power trains in the next few years.Cummins says it also intends to electrify some of the auxiliaries on its diesel engines and natural gas engines.  Full Article

Cummins raises 2017 revenue forecsast
Tuesday, 1 Aug 2017 07:30am EDT 

Aug 1 (Reuters) - Cummins Inc :Cummins announces second quarter results; raises outlook for 2017.Q2 earnings per share $2.53.Q2 revenue $5.1 billion versus I/B/E/S view $4.8 billion.Sees FY2017 revenue up 9 to 11 percent, higher than the prior forecast of up 4 to 7.Q2 earnings per share view $2.58 -- Thomson Reuters I/B/E/S.Cummins inc says fy ebit expected to be in range of 11.75 to 12.5 percent, unchanged from prior guidance.Source text for Eikon: ID:nBw36YHp1a.Further company coverage: CMI.N.  Full Article

Cummins Inc increases quarterly cash dividend on common stock from $1.025 per share to $1.08 per share
Tuesday, 11 Jul 2017 02:00pm EDT 

July 11 (Reuters) - Cummins Inc :Cummins inc. Increases quarterly common stock dividend.Cummins inc. Increases quarterly common stock dividend.Sets quarterly cash dividend of $1.08 per share.Cummins inc - approved an increase in company's quarterly cash dividend on common stock from $1.025 per share to $1.08 per share.  Full Article

Cummins sets quarterly cash dividend of $1.025 per share
Tuesday, 9 May 2017 03:15pm EDT 

May 9 (Reuters) - Cummins Inc :Sets quarterly cash dividend of $1.025per share.  Full Article

Cummins says could acquire some subsystems technologies as electrified powertrain evolves - Conf Call
Tuesday, 2 May 2017 11:26am EDT 

May 2 (Reuters) - Cummins Inc :Says demand for construction equipment doubled from a year ago in China in response to stronger infrastructure investment.Says expects industry production for heavy-duty trucks in North America to be 195,000 units in 2017, up from its prior forecast of 178,000 units, but still down 3 percent from last year.Says projecting 10-15 percent growth in off-highway markets in china in 2017, compared to previous guidance of up 5 percent, primarily due to higher demand for construction equipment.Says its filtration business is not for sale.Says could acquire some subsystems technologies, such as, battery control and power electronics, as electrified powertrain evolves.Cummins says already has pilot products running with fully electrified powertrains designed and built by co.  Full Article

Cummins Q1 EPS $2.36
Tuesday, 2 May 2017 07:30am EDT 

May 2 (Reuters) - Cummins Inc :Cummins announces first quarter results; raises outlook for 2017.Q1 earnings per share $2.36.Q1 revenue $4.6 billion versus i/b/e/s view $4.15 billion.Q1 earnings per share view $1.81 -- Thomson Reuters I/B/E/S.Sees fy 2017 revenue up 4 to 7 percent.Cummins inc - full year 2017 revenues expected to be up 4 to 7 percent.Cummins inc - sees fy ebit is projected to be in range of 11.75 to 12.5 percent of sales.Cummins-Fy forecast excludes impact of new jv with eaton, which will be consolidated within co's financial results, is expected to be operational in q3.Fy2017 revenue view $17.30 billion -- Thomson Reuters I/B/E/S.  Full Article

Eaton, Cummins announce joint venture
Monday, 10 Apr 2017 09:00am EDT 

Cummins Inc : Eaton and cummins Inc announce joint venture for automated transmissions for heavy- and medium-duty commercial vehicles . Under terms of agreement, Eaton will receive $600 million in cash from Cummins for 50 percent interest in joint venture. . Cummins and Eaton will each own 50 percent of new joint venture .Cummins will consolidate joint venture results as part of its components business segment.  Full Article

Cummins Q2 earnings per share $2.40
Tuesday, 2 Aug 2016 07:30am EDT 

Cummins Inc : Q2 earnings per share $2.40 . Q2 earnings per share view $2.16 -- Thomson Reuters I/B/E/S . Cummins announces second quarter 2016 results . Q2 revenue $4.5 billion versus I/B/E/S view $4.5 billion . Cummins announces second quarter 2016 results . Expects full year 2016 revenues to be down 8 to 10 percent, lower than previous guidance of down 5 to 9 percent . Full year 2016 EBIT expected to be in range of 11.6 to 12.2 percent, unchanged .FY 2016 revenue view $17.56 billion -- Thomson Reuters I/B/E/S.  Full Article

BRIEF-Cummins Inc enters 364-day credit agreement

* Cummins Inc - On September 5, Cummins Inc entered into a 364-day credit agreement - SEC filing