logo
Plus   Neg
Share
Email

Cummins Updates FY18 Revenue Guidance - Quick Facts

Cummins Inc. (CMI) announced the company now expects full year 2018 revenues to be up 15 to 17 percent, compared to prior guidance of up 10 to 14 percent. Also, the company now plans to return 75 percent of operating cash flow to shareholders in the form of dividends and share repurchases in 2018, up from previous plan to return 50 percent.

For the second-quarter, net income attributable to Cummins was $545 million or $3.32 per diluted share, compared to net income of $424 million or $2.53 per diluted share in the second quarter of 2017. Second quarter revenues of $6.1 billion increased 21 percent from the same quarter in 2017. Sales in North America improved by 22 percent while international revenues increased by 18 percent led by growth in China, Europe and Latin America.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon plans to more than double its corporate workforce in Las Vegas by creating 125 additional jobs in the city. The e-commerce giant recently opened a new 30,000 square foot office in Town Square in downtown Las Vegas and plans to expand its corporate workforce in the area to support its Human Resources division. Amazon also said it will donate $100,000 to two food bank partners. Consumer Reports has once again recommended Tesla's Model 3 and Model S sedans as reliable, after the vehicles were previous downgraded by the organization. Consumer Reports said that the two sedans regained its recommendation due to improved reliability reports from owners of the cars, based on the results of its annual Auto Reliability Survey that were announced Thursday. Sears Holdings recalled about 700 units of Kenmore Elite microwave ovens for possible electrical burn hazard, a statement by the U.S. Consumer Product Safety Commission said. The company said the incorrect wiring of the microwave oven causes its exterior to reach temperatures exceeding 183 degrees fahrenheit that could result in a burn hazard to the user.
Follow RTT
>