Columbus, IND., April 28, 2015 – Cummins Inc. (NYSE: CMI) today reported results for the second quarter of 2015.
Second quarter revenue of $5.0 billion increased 4 percent from the same quarter in 2014. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Currency negatively impacted revenues by 4 percent compared to last year, primarily due to a stronger US dollar.
Revenues in North America increased 12 percent while international sales declined by 6 percent. Within international markets, sales in Brazil fell the most due to the weak economy.
Earnings before interest and taxes (EBIT) increased to $721 million for the second quarter or 14.4 percent of sales, up from$657 million or 13.6 percent of sales a year ago.
Other recent highlights:
“We delivered strong results in the second quarter, despite challenging economic conditions in a number of international markets, and we increased cash returned to shareholders,” said Cummins Chairman and CEO Tom Linebarger. “Earnings improved as a result of good performance by our manufacturing and supply chain organizations and solid execution on material cost reduction initiatives. We returned $517 million to shareholders in the form of dividends and share repurchases in the second quarter and we recently announced a 25 percent increase in our quarterly dividend.”
Read the full press release – including second quarter 2015 detail for all Cummins business units – by clicking on the link below.
Press Release – Cummins Announces First Quarter 2015 Results
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