Skip to main content

Cummins reports 1Q results

Cummins Inc. today reported higher sales and improved profits in the first quarter compared to the same period in 2009.

Sales of $2.48 billion rose 2 percent from $2.44 billion in the first quarter in 2009, as growth in the company's components and distribution segments slightly more than offset declines in the engine and power generation segments.

Net income attributable to Cummins Inc. increased to $149 million, or 75 cents a share, from $7 million, or 4 cents a share, during the same period in 2009.

Compared to the fourth quarter of 2009, sales were down 27 percent due to lower demand in North America.

For the first quarter, the engine segment saw sales of $1.42 billion, down 5 percent. Industrial sales increased 24 percent; construction sales increased 62 percent; marine engine sales increased 13 percent; mining sales increased 28 percent; oil and gas sales fell 80 percent.

"Our strength in large developing markets such as China, India and Brazil has given us a significant boost as those economies have continued to recover from the recession more quickly than other regions," Cummins chairman and CEO Tim Solso said in a statement.

Based on the first quarter results and its forecast for the remainder of the year, the company today increased its sales and earning before interest and tax (EBIT) guidance for 2010. The company now expects sales to be $12 billion and to earn an EBIT margin of 10 percent of sales.



NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.


Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.


Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.


Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.


NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.


DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.


EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.


Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.