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News Breaks
February 20, 2013
08:04 EDTCMICummins revises previously announced Q4 operating results
Cummins has revised its previously announced Q4 and FY12 operating results to reflect information learned in February related to certain legal matters. The revisions were made to reflect a post-period increase to the Company’s contingent legal reserves for a recent adverse court ruling in a commercial contract dispute. As a result of the new information, EBIT for the fourth quarter and the full year decreased by $20M, while net income attributable to Cummins was reduced by $12M, or 7c per diluted share. This matter does not alter operating segment results as previously reported. The company’s revised fourth quarter EBIT was $532M excluding $52M of restructuring costs. Net income attributable to Cummins was $369M, or $1.95 cents per diluted share, including 19c per diluted share of restructuring costs and one-time tax benefits of 21c per diluted share. For the full year, the company’s revised EBIT, excluding special items, was $2.35B or 13.6% of sales compared to $2.6B or 14.2% of sales in 2011.
News For CMI From The Last 14 Days
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March 26, 2015
07:23 EDTCMIUBS to hold a field trip
Field Trip: 2015 Mid-America Trucking Show is being held in Louisville, KY on March 26.
March 25, 2015
11:08 EDTCMICummins management to meet with Jefferies
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March 24, 2015
10:01 EDTCMIOn The Fly: Analyst Upgrade Summary
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07:02 EDTCMICummins upgraded at RW Baird
Baird upgraded Cummins to Outperform from Neutral and raised its price target to $166 from $155. The firm said expectations have been reset and the company is poised to deliver steady earnings growth and shareholder returns. Baird believes the North American truck cycle can last longer and at higher levels than consensus expectations and thinks Cummins' stable cash flow will likely continue to enhance shareholder value.
06:09 EDTCMICummins upgraded to Outperform from Neutral at RW Baird
March 19, 2015
11:38 EDTCMIGE Marine announces Reinauer purchases two diesel engines, gearboxes
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