Cummins raises long-term financial forecast

Cummins says it is in a strong position and is raising its long-term financial targets, anticipating revenues in 2030 of $43 to $48 billion dollars.

The Columbus based engine manufacturer made a presentation today ahead of Analyst Day on its financial outlook.

Company officials told investors and shareholders today that they believe the company well positioned to meet customer needs as well as drive greenhouse gas reductions. And that it would generate growth regardless of the transition to zero emissions.

The company expects the base business to generate $39 to $42 billion a year by 2030, which would be a 25 percent incremental growth in earnings before interest, taxes, depreciation and amortization. Its zero emissions brand Accelera is expected to generate $3 to $9 billion in revenue by 2030 and to begin breaking even by 2027.

The company outlined continuous expansion as a result of emissions regulations, as well as aftermarket growth and growth in the adoption of zero emissions technology.

Jennifer Rumsey, Chair and Chief Executive Officer, said that since the last Analyst Day, the company has “continued to strengthen our position and execute on both our strategy and financial commitments.”