Cummins (CMI) Tops Q2 EPS by 7c

Cummins (NYSE: CMI) reported Q2 EPS of $2.62, $0.07 better than the analyst estimate of $2.55. Revenue for the quarter came in at $5 billion versus the consensus estimate of $4.94 billion.

“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.”

Based on the current forecast, Cummins expects full year 2015 revenues to grow between 2 and 4 percent, and EBIT to be in the range of 13.5 to 14.0 percent of sales.

For earnings history and earnings-related data on Cummins (CMI) click here.

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• Keurig Dr Pepper coffee chief to depart ahead of planned split
• AXT appoints Tracy Liu to its board of directors