Welcome to our dedicated page for Cummins news (Ticker: CMI), a resource for investors and traders seeking the latest updates and insights on Cummins stock.
Cummins Inc. (NYSE: CMI) maintains its position as a global power technology leader through continuous innovation in diesel engines, clean energy solutions, and sustainable infrastructure. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and technological advancements.
Access real-time information about earnings reports, strategic partnerships, product launches, and environmental initiatives. Our curated news collection covers operational milestones across Cummins' core segments: engine manufacturing, power generation systems, and zero-emissions technologies like hydrogen fuel cells through its Accelera™ division.
Stay informed about regulatory compliance updates, supply chain developments, and progress toward PLANET 2050 sustainability goals. Content types include quarterly financial disclosures, leadership announcements, R&D breakthroughs, and market expansion updates across 190 countries.
Bookmark this page for streamlined access to verified Cummins news. Combine historical context with current developments to assess the company's role in powering global industries while transitioning to cleaner energy solutions.
The Board of Directors of Cummins authorized a $2 billion share repurchase program to enhance shareholder returns and demonstrate confidence in the company's future performance. This new buyback program follows the completion of a previous $2 billion initiative, reaffirming Cummins' commitment to delivering value to its investors. The company reported $1.8 billion in earnings on $19.8 billion in sales for 2020, indicating a solid financial footing despite ongoing market challenges.
Cummins Inc. (NYSE: CMI) has partnered with Sion Power Corporation to develop battery cells using advanced lithium metal technology for commercial vehicles. This agreement includes a minority investment from Cummins in Sion Power, facilitating further development of the battery technology. Sion Power will participate in a multi-year program to supply large-format lithium metal battery cells for Cummins' electric powertrains. This strategic partnership aims to enhance Cummins' offerings in the electric vehicle sector while promoting decarbonization in transportation.
Cummins Inc. (NYSE: CMI) has appointed Steph Disher as Vice President of Cummins Filtration, effective November 15. Disher has led the Filtration business since August 2020, successfully navigating challenges such as the global pandemic and supply chain constraints while maintaining solid financial performance. Her leadership is praised for fostering a positive work environment and driving strategic initiatives, including the exploration of alternatives for the filtration business. Disher, who joined Cummins in 2013, has a track record of achieving record revenue growth.
Cummins Inc. (NYSE: CMI) has been awarded the Terra Carta Seal, recognizing its commitment to environmental sustainability and decarbonization. This initiative, led by Prince Charles, aims to support businesses in protecting natural resources. Cummins aims for carbon neutrality by 2050 and follows the PLANET 2050 strategy, with science-based goals aligned to the Paris climate agreements. The company is a leader in innovative technologies, including green hydrogen production, and has been included in the S&P Dow Jones Sustainability Indices for 15 consecutive years.
In Q3 2021, Cummins Inc. (CMI) reported revenues of $6.0 billion, a 17% increase from 2020. Net income rose to $534 million, with diluted EPS at $3.69. However, the company has revised its full-year revenue guidance to a 20% increase, down from 20%-24%, and lowered EBITDA expectations to approximately 15% due to ongoing supply chain challenges. Noteworthy initiatives include a new 15-liter natural gas engine and partnerships to enhance fuel cell viability. Additionally, Cummins plans to return over 75% of operating cash flow to shareholders in dividends and buybacks.
Cummins Inc. has unveiled a revolutionary 15-liter natural gas engine aimed at heavy-duty trucks in North America. This engine is part of Cummins' strategy to achieve zero emissions by 2050, with a target to reduce emissions from newly sold products by 30% by 2030. The engine boasts up to 500hp and 1,850 ft-lbs of torque, weighing 500 lbs less than comparable diesel engines. It operates without Selective Catalytic Reduction (SCR) and can achieve a carbon-negative powertrain when powered by renewable natural gas.
The Board of Directors of Cummins Inc. (NYSE: CMI) declared a quarterly cash dividend of $1.45 per share. This dividend is payable on December 2, 2021, to shareholders recorded by November 19, 2021. Cummins is a leader in power solutions, offering a diverse range of products including diesel and electric powertrains. In 2020, the company reported earnings of approximately $1.8 billion on revenues of $19.8 billion.
Cummins Inc. (NYSE: CMI) has announced the launch of new software features designed to integrate its powertrains with Automated Driving System (ADS) technologies. The company is currently testing over 100 vehicles in collaboration with ADS technology firms, aiming to lead the global ADS market. Cummins emphasizes its commitment to advancing autonomous vehicle solutions across various powertrains, including diesel, natural gas, hybrid, and electric. This initiative is backed by Cummins' century-long expertise in power solutions, enhancing its position within the heavy-duty trucking sector.
