COLUMBUS — Cummins Inc. today reported record sales, profits and cash flow from operations for all of 2011 as well as strong results for the fourth quarter.
Fourth-quarter revenue of $4.9 billion was up 19 percent from the same quarter in 2010 and set a new quarterly record for the company. The year-over-year increase was driven by higher demand in truck, construction, power generation, and oil and gas markets in North America. The company also experienced strong growth in global mining markets. Growth in these markets offset weaker demand in the construction market in China and power generation in India.
“Cummins had its best year ever in 2011, despite economic uncertainty in a number of regions. We continue to benefit from our leading position in a number of end markets and geographies,” Tom Linebarger, the company’s chairman and chief executive officer, said in a news release. “Revenue in the United States grew 53 percent and international revenue grew 27 percent year-over-year. In fact, we experienced record full-year revenues in North America, Brazil, China, India and a number of other important markets.”
Revenue for the full year was $18 billion, up 36 percent from 2010.
Early trading of Cummins stock today resulted in about a 7 percent increase, at one point topping $114 per share. It closed Wednesday at $105.82.