Cummins sees flat third quarter but counts successes

Cummins says that its revenues were flat for the third quarter, but estimates for year-end earnings are coming in at the high end of what was expected.

The Columbus based engine manufacturer announced its third quarter results yesterday, saying that it had sales of $8.5 billion in the third quarter. That came after sales in North America slipped by 1 percent while international revenue increased by two percent. The company said that its net income actually went up over last year with $809 million compared to $656 million in 2023.

Company officials have been predicting sales would be down this year and they are tracking for a 3 percent decrease. However, earnings before interest, taxes, depreciation and amortization are expected to be up 15.5 percent this year. That is at the very upper end of previous estimates.

Cummins Chair and CEO Jennifer Rumsey said that the Power Systems and Distribution businesses had strong improvement this quarter.

Among the third quarter highlights was the start of production of the X15N natural gas engine at its Jamestown Engine Plant. The engine is part of a series which uses a common base that allows for multiple fuel types in different models.

You can read the entire quarterly report here: https://investor.cummins.com/news/detail/662/cummins-reports-strong-third-quarter-2024-results