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., headquartered in Columbus, Indiana, is a global leader in power solutions. The company designs, manufactures, distributes, and services diesel and natural gas engines and related technologies. This includes fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems. With a workforce of approximately 75,500 employees, Cummins operates in around 190 countries through a network of 600 company-owned and independent distributors and 7,200 dealer locations.
Cummins' product portfolio is highly diversified. It includes engines used in commercial trucks, off-highway machinery, and railroad locomotives. The company also manufactures standby and prime power generators and powertrain components such as transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins has maintained its position as the top manufacturer of diesel engines despite intense competition and stringent government regulations on carbon emissions.
One of Cummins' recent achievements is the inauguration of a new state-of-the-art facility in Jamshedpur, India, in partnership with Tata Motors. This facility focuses on producing hydrogen-based internal combustion engines for medium and heavy commercial vehicles, reflecting the company's commitment to sustainable and zero-emission technologies. This project aligns with Cummins' long-term sustainability plan, PLANET 2050, aimed at addressing climate change and resource use while improving communities globally.
Cummins continues to expand its technological capabilities to support its Destination Zero strategy, which aims to advance decarbonization and offer customers a wide range of zero-emission products. In 2023, the company reported earnings of $735 million on sales of $34.1 billion, indicating a robust financial performance. Cummins remains committed to its core principles of sustainability, innovation, and customer success, driven by its vast technological expertise and global manufacturing network.
Cummins Inc. and Isuzu Motors have introduced a new 6.7-liter engine, the Isuzu DB6A, for the Japanese, Southeast Asia, and global markets. As part of their partnership, the engine will power Isuzu's medium-duty truck lineup, marking Cummins' entry into the Japanese on-highway market. The engine will be assembled in Japan and signifies a significant milestone in the collaboration between the two companies.
The Environmental Protection Agency has announced the final rule for Phase 3 of its Greenhouse Gas Emissions for heavy-duty vehicles, setting new carbon dioxide emission standards for heavy-duty vehicles through model year 2032. The EPA considers comments from various stakeholders and the standards are technology-neutral and performance-based. The rule impacts different vehicle categories with varying adoption rates of zero-emission vehicles and internal combustion engines. The EPA also adds warranty requirements for zero-emission vehicle components and improves infrastructure readiness for electric and hydrogen vehicles.
Mohr Capital has secured a 1 million square foot lease at Mohr Logistics Park with Cummins Inc (NYSE: CMI), further establishing the park as a blue-chip industrial location. Cummins' long-term lease for a 40-foot clear-height warehouse enhances the Park's reputation with high-quality tenants. The park boasts Fortune 100 companies and was awarded the CoStar Impact Award for 'Commercial Development of the Year' in 2024.
Cummins Inc., a global power technology leader, announced a $580 million project in Rocky Mount, NC, to drive economic growth and create 80 new jobs. The project aligns with Cummins' Destination Zero Strategy for zero emissions, involves upgrading manufacturing equipment, and supports decarbonization efforts. Cummins' commitment to the community includes partnerships with educational institutions and local organizations, showcasing a dedication to sustainability and community impact.
Valvoline Global and Cummins Inc. are celebrating their 30th anniversary of partnership, highlighting their joint efforts in developing cutting-edge products. The collaboration has resulted in premium engines, generators, lubricants, and fluid solutions that enhance customer value and efficiency. Both companies have received recognition for their innovative products, with plans for further expansion and impact in global automotive and industrial sectors.
Accelera by Cummins, a zero-emissions business segment of Cummins Inc., is collaborating with BMC Otomotiv to provide battery solutions for their transit bus operations in Europe, marking the first use of the BP97E battery pack in the region. The high-energy-density battery pack offers up to 97 kWh storage capacity, allowing for efficient and reliable transportation while promoting sustainability. The project is set to deliver batteries in the first half of 2024 and buses to customers in 2025.
TCPL GES inaugurated a new state-of-the-art manufacturing facility in India to produce hydrogen-based Internal Combustion Engines for commercial vehicles and low to zero emission technology products. The facility reflects Tata Motors and Cummins' commitment to innovation, manufacturing excellence, and environmental sustainability. The partnership aims to advance decarbonization strategies, shaping a cleaner and sustainable future for India. Tata Motors and Cummins have a 30-year partnership and formed TCPL GES to develop low and zero-emission propulsion technology solutions for commercial vehicles, supporting India's net-zero ambitions.
Cummins Inc. (NYSE: CMI) reported first quarter 2024 results with revenues of $8.4 billion and GAAP Net Income of $2.0 billion. The company raised full-year revenue guidance, expecting a 2% to 5% decline, and EBITDA is forecasted to be in the range of 14.5% to 15.5%. Cummins remains focused on advancing innovative power solutions and profitable growth.
Cummins Inc. introduces Cummins Helm(TM) Platforms aimed at higher efficiency, lower emissions, and the use of multiple fuels. The company focuses on providing customers with the optionality needed to align with their operational and sustainability objectives.
Cummins Inc. (NYSE: CMI) has appointed Alison Trueblood as Vice President of Cummins Emissions Solutions, effective May 1. Trueblood's vast experience in leadership roles within Cummins, particularly in fuel cell and hydrogen technologies, makes her well-suited to lead the company through stricter emissions regulations and the transition to a more sustainable future. Her global experience and business acumen will be instrumental in executing Cummins' Destination Zero strategy and strengthening the company's position in the market.
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