Cummins Reports Record Revenues

Cummins is reporting record revenues in its quarterly financial reports.

The Columbus based engine manufacturer says it brought in $6.6 billion in revenue and is maintaining its guidance that revenue will be up 8 percent for the entire year.

According to the report, the $6.6 billion was increase of 8 percent over the same quarter last year. North American sales were up 15 percent, while international sales were down 2 percent. The company said the slump was caused by a slowdown in China and the suspension of operations in Russia.

The company also reported net income of $702 million, or 10.7 percent of sales, for the quarter. That was up over $100 million from 2021.

The company reported quarterly highlights including the acquisition of Jacob Vehicle Systems and Meritor, which was finalized yesterday.