COLUMBUS, Ind. — Cummins Inc. today reported second quarter revenues of $6.2 billion, an increase of 1 percent from the same quarter in 2018.
Second quarter sales in North America set a new record and improved by 7 percent while international revenues decreased by 6 percent, the company said.
Earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter were a record $1.1 billion, or 17.0 percent of sales, compared to $897 million or 14.6 percent of sales a year ago. Net income attributable to Cummins in the second quarter was $675 million ($4.27 per diluted share), compared to net income of $545 million ($3.32 per diluted share).
“We achieved record revenues, EBITDA, and operating cash flow in the first half of 2019, extending our track record of raising performance cycle over cycle,” Cummins Chairman and CEO Tom Linebarger said. “While we do expect to see a moderation in demand in the second half of the year, our financial strength combined with our diversified geographic and end market exposure will enable us to generate strong profits, continue to invest in future growth, and return cash to shareholders.”
Cummins now expects 2019 revenue to be flat, which places the forecast at the low end of our previous guidance range of flat to 4 percent.
Please read Wednesday’s edition of The Republic for more details.
