Stronger demand for on-highway markets and distributor acquisitions in North America resulted in a 15-percent increase in revenue year-over-year for Cummins.
Cummins reported $4.9 billion in revenue in the third quarter of 2014. Net income for the third quarter was $432 million compared to $355 million for the same quarter last year. The increase translated to $2.32 per diluted share.
“We delivered strong earnings and cash flow in the third quarter despite facing mixed conditions in international markets,” said Tom Linebarger, chairman and CEO of Cummins. “Earnings improved in all four of our businesses compared to a year ago.”
The company expects that full-year revenues will grow between 10 and 12 percent, slightly above its original forecast of eight to 11 percent.
But Cummins also said global demand for their natural gas engines remains weak and is considering a restructuring that could cut costs in the long term but may reduce earnings by as much as $40 million.
