Cummins (CMI) Continues To Fall; Investors’ Returns Are Still Safe
Cummins Inc (NYSE:CMI) extended its downward trend in the second quarter amid low global demand for off-highway engines, negative currency translations, lower truck production in the US, and volatility in the power generation equipment markets.
In the second quarter, the company sales declined by 10% to $4.5B, compared with the same quarter of last year.
Excluding the distribution segment, all remaining three segments fell at a sharp rate: Engine segment was down 14%, Components segment dipped 8% and Power Systems segment fell 16%, compared with the same period of last year.
Its CEO said, “We made strong progress in our cost reduction initiatives in the second quarter, while
Cummins Inc (NYSE:CMI) extended its downward trend in the second quarter amid low global demand for off-highway engines, negative currency translations, lower truck production in the US, and volatility in the power generation equipment markets.
In the second quarter, the company sales declined by 10% to $4.5B, compared with the same quarter of last year.
Excluding the distribution segment, all remaining three segments fell at a sharp rate: Engine segment was down 14%, Components segment dipped 8% and Power Systems segment fell 16%, compared with the same period of last year.
Its CEO said, “We made strong progress in our cost reduction initiatives in the second quarter, while