Greetings Columbus —
If you have been freaking out over the recent stock market volatility, there’s some strong financial news this morning from Cummins Inc.
The engine-maker’s earnings report is out, and revenues are up.
Fourth quarter revenues of $5.5 billion increased 22 percent from the same quarter in 2016, according to a news release from Cummins.
Strong demand for trucks, construction and mining equipment drove the majority of the revenue increase, the news release said.
Revenues for the full year 2017 were $20.4 billion, 17 percent higher than 2016. Revenues in North America increased 15 percent and international sales increased 19 percent.
“The company delivered strong growth, solid profitability and record operating cash flow in 2017,” Chairman and CEO Tom Linebarger said in a news release. “We expect demand to remain strong in many of our core markets in 2018 and profitability to improve as a result of higher sales and continued execution of our cost reduction initiatives. The company again plans to return at least 50 percent of operating cash flow to shareholders in 2018.”
Based on the current forecast, Cummins expects full year 2018 revenues to be up 4 to 8 percent, the news release said.
Here’s what else you need to know today —
What a fish story: Family serves up rainbow trout.
White Creek Farms of Indiana has an open barn policy. So let’s go and visit 19,000 fish. Each Wednesday, the Cortland farm delivers 150 pounds or more to Bluefin Seafood in Louisville. The company processes the fish and distributes it to seafood restaurants in Louisville, Lexington, Cincinnati, Indianapolis and other areas and has plans to deliver 600 pounds of rainbow trout each week. Catch this story here.
Runners, bikers and walkers rejoice.
This one was a long time in the making, but the historic Newbern bridge is now part of the People Trail near the Hamilton Community Center and Ice Arena. We’ll no longer have to stop for traffic on 25th Street or National Road.
This Olympian trio is excited.
Columbus East’s journey to a girls basketball sectional title was four years in the making for three seniors. Britney Ballard, Addy Galarno and Kristen Lyons are four-year varsity players who have persevered through the ups and downs of the Olympians program. Last week, they led East to its first sectional title in seven years and will lead the Olympians into Saturday’s regional. Wednesday’s Republic.
Heading to the Games, and turning up the heat.
Vice president and Columbus native son Mike Pence is making his way to the very cold Winter Olympics which at the same time is one of hottest spots in the world when it comes to confrontational rhetoric. His trip to Asia is becoming much more than a ceremonial visit to PyeongChang. Pence is not ruling out direct talks with the North Koreans, according to The Associated Press. Read the story here.
Cannabis oil bill advances.
The Indiana Legislature is poised to allow anyone to purchase and use a cannabis-derived extract believed to have therapeutic benefits, following a key vote by the state Senate on Monday. Story here.
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