Cummins Inc. performs well in Q3 with earnings exceeding forecasts and revenues increasing year-on-year. Their Q3 EPS was $1.04 more than expected, with revenues reaching $8.46 billion. The company's stock has seen positive movement in the market. Major assets management firms have made significant investments in Cummins Inc. demonstrating strong institutional backing. Cummins Inc. has also decided to modernize R&D with $1.4 billion investments, stressing its focus on zero-emission technologies. Moreover, Cummins has executed plans for the complete separation of Atmus Filtration Technologies Inc. through an exchange offer. However, Cummins FY24 revenue is predicted to decline by 3% to flat. The firm has also launched next-gen hydrogen and electric solutions for commercial vehicles. Accelera, backed by Cummins, is also promoting zero-emissions manufacturing with a $75 million grant from the Department of Energy. Additionally, the company's price target was increased by Baird from $330 to $372.
Cummins CMI News Analytics from Wed, 14 Feb 2024 08:00:00 GMT to Sat, 09 Nov 2024 11:32:37 GMT -
Rating 9
- Innovation 8
- Information 8
- Rumor 2
