Cummins Inc. has reported fourth quarter revenues of $5.8 billion, a 5 percent increase from the same quarter in 2019. Sales in North America were flat while international revenues increased 12 percent driven, the company said, by strong demand in China truck and construction markets as well as the growth in new product sales in India.
The company had $501 million in net income during the quarter, compared to the same period a year ago, after excluding restructuring.
Revenues for the full year were $19.8 billion, 16 percent lower than 2019. Sales in North America declined 21 percent and international revenues declined 7 percent. Sales declined in all major regions except China, where demand for trucks and construction equipment reached record levels.
“We faced many challenges in 2020 driven by the severe global impact of the COVID-19 pandemic.” said Chairman and CEO Tom Linebarger. “I want to thank all of our employees for their dedication to our company and our customers as they adjusted to the unprecedented slowdown in the global economy and then responded as demand accelerated sharply in the second half of the year, all while facing significant disruption to their daily routines at work and home.”
