Cummins Profits Unexpectedly Better in Q4 of 2013
www.chinatrucks.com: Recently, Cummins—diesel engine and electricity generating equipment manufacturer gave a financial reports that its profit in Q4 of 2013 is unexpectedly better. Greatly increasing sales of engine and other automotive parts in North America, Europe and China markets offset depressed condition of India and Mexico markets.
Cummins increases its profit to 432 million USD from 404 million USD of 2012. Each share increases to 2.32 USD from 2.14 USD of last year, which is higher than prospective average 1.98 USD by analyst of Thomson Reuter. Its revenue increases 7% to 4.6 billion USD, which is higher than the prospective 4.2 billon USD. Cummins predicts that its revenue in 2014 would increase 4% to 8% and earnings before interest and taxes would take up 12.75% to 13.25%.
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