Cummins boosts revenue by 4% in the third quarter and net profit slightly increases by 0.9%

Cummins announced the financial report for the third quarter of 2013. The company’s earnings for the previous quarter failed to reach the expected level. Due to the decline in demand in most regional markets, the company lowered its forecast for the year before last year.

In the third quarter of this year, Cummins’ operating income reached US$4.3 billion, which was a 4% increase over the same period of last year. North America’s regional revenue increased by 11% year-on-year, while overseas market revenues fell by 4%. In overseas markets , Cummins’ revenue in both China and Brazil increased, but was offset by the decline in revenue in India, Australia and Europe.

In each business unit, the engine division's revenue for the third quarter fell by 1% year-on-year to US$2.5 billion; the parts and components division’s revenue increased by 14% year-on-year to US$1.1 billion; the power division’s revenue decreased by 13% year-on-year. US$712 million; distribution division increased 2% year-over-year to US$944 million.

Cummins’ previous quarter's EBIT reached US$ 536 million, an increase of 8% from US$ 496 million in the same period last year; net profit reached US$ 355 million, a slight increase of 0.9% from US$ 352 million in the same period of last year.

In the first three quarters of this year, Cummins’ operating income totaled US$12.713 billion, compared to US$130.42 billion in the same period of last year, down 2.5% year-on-year; net profit decreased from US$1.276 billion in the same period last year to US$1.051 billion, a decrease of 17.6%.

Jilin Province Xuan Yi Trading Co.,Ltd. , https://www.xuanyitruckpart.com