CUMMIN'S REPORT * USA: Profit $ 378M
* Indiana - Cummins profit rises, helped by cost cuts
Cummins Inc. reported higher-than-expected earnings for the fourth quarter despite declining revenue amid a slowdown in North American truck production... The engine manufacturer expects poor market conditions to continue into 2017 and said the first quarter will likely be a low point for the fiscal year... In all, Cummins reported a profit of $378 million, or $2.25 a share, up from $161 million, or 92 cents, a year earlier. Revenue dropped 5.5% to $4.5 billion...
(Photo: CUMMINS trucks engines production line USA) -- Columbus, IND, USA - The Morning Star, by Imani Moise - 9 Feb 2017
Labels: engine makers