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Cummins Reports Q3 Revenue Drop

Power generation company Cummins has reported revenues of $5.1 billion for the third quarter, a drop of 11 percent from the same quarter a year ago. The company said sales in North America declined by 18 percent while international revenues were flat.

Cummins reported earnings before interest, taxes, depreciation and amortization of $876 million in the quarter, compared with $958 million a year ago.

“I want to thank our employees all over the globe once again for their dedication to our company and to our customers,” said Chairman and CEO Tom Linebarger. “Over the last six months we have faced both the most severe decline in quarterly sales in our history as well as the largest sequential increase. We continue to work safely and effectively through an incredibly challenging period, meeting our commitments to customers who provide products critical to the functioning of the global economy.”

The company currently expects fourth quarter revenues to be similar to third quarter levels, with higher demand in North America truck markets and continued improvement in aftermarket sales, partially offset by lower demand in China.

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