Cummins sets new earnings record

Cummins says revenues for the year will be up 15 to 17 percent over last year, that’s based on record-setting third quarter numbers.

The Columbus-based diesel engine manufacturer released its quarterly report to the SEC today, saying that it had third quarter revenues of $5.9 billion. That was an increase of 12.percent from the same quarter of last year.

The company set a new record for earnings with $983 million dollars in earnings before interest, taxes, depreciation and amortization, which was up from $788 million in the same quarter of last year.

Sales in North America improved by 17 percent. International revenues increased by 6 percent led by growth in India, China, Latin America, and Europe.

Based on the current forecast, Cummins expects annual earnings of 14.8 to 15.2 percent of sales.

You can read more about the third quarter report here.