Cummins posts record sales in second quarter

U.S.-based Cummins Inc. reported record sales and earnings for the second quarter on strong growth in nearly every global market. Cummins is involved in the design, manufacture, and distribution of service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Second quarter sales for the engine, components and distribution segments all reported record sales. Second quarter sales were US$4.6 billion, up 45% from the same period last year. Earnings before interest and taxes (EBIT) were US$775 million. Tim Solso, CEO, said “The Company’s performance in the second quarter underscores the success of our long-term strategy to diversify and seek profitable growth across geographies and end markets. As a result of our efforts over the last 10 years, Cummins is better positioned than ever to grow in this global economy.” (July 26, 2011)