Power generation company Cummins reported second quarter revenues of $6.1 billion, an increase of 59 percent over the same quarter a year ago.
Cummins’ second quarter revenues of $6.1 billion increased 59 percent from the same quarter in 2020. Sales in North America increased 74 percent while international revenues increased 42 percent, driven by strong demand across all global markets compared to the same quarter in 2020, which was impacted significantly by the pandemic. Currency positively impacted sales by 3 percent primarily due to a weaker U.S. dollar.
“Strong demand across many of our key markets drove continued sales growth in the second quarter, particularly in North America, and resulted in solid profitability,” said Chairman and CEO Tom Linebarger. “The strength of the order board reflects robust underlying demand in many of our markets, which is remarkable considering the challenges and uncertainty we faced during this same period last year. I cannot thank our employees and the employees of our supply base enough for their unwavering contributions during these challenging times, given the significant supply chain constraints we continue to experience in our industry.”
Net income attributable to Cummins in the second quarter was $600 million compared to $276 million last year.
Cummins is also announcing exploration of strategic alternatives for its Filtration business unit, which it founded in 1958. Potential strategic alternatives to be explored include the separation of the business from Cummins and turning it into a stand-alone company.