Global power generation company Cummins on Thursday announced revenues of $8.6 billion for the second quarter, an increase of 31% from the same quarter in 2022. Sales in North America increased 31% and international revenues increased 32% due to the addition of Meritor and strong demand across most global markets.
“Strong demand across most of our key markets and regions resulted in record revenues and solid profitability for the company in the second quarter of 2023,” said Jennifer Rumsey, chair and CEO. “We are committed to delivering cycle-over-cycle improvement in financial performance, returning cash to our shareholders and prioritizing investments to continue building our product portfolio to power our customers’ success around the world. I want to thank our Cummins employees who continue to work tirelessly to meet customer needs and respond to the strong demand levels by ensuring quality products, strengthening our customer relationships, and navigating continued supply chain constraints.”
Net income attributable to Cummins in the second quarter was $720 million compared to $702 million a year ago.
Based on its current forecast, Cummins is maintaining its full year 2023 revenue guidance to be up 15 to 20% due to strong demand across most markets, especially North America.
