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Cummins Inc. - CMI STOCK NEWS

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.

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Cummins Inc. (NYSE:CMI) has appointed four new leaders to the role of vice president, in addition to one already appointed earlier in January. The new leaders have been recognized for their expertise, commitment to the company's culture, and ability to drive success in the ever-evolving energy transition. Each leader brings unique skills and experiences that will help position Cummins for greater success in the future.

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Cummins introduces Cummins READY strategy to prepare for the workforce of the future by unveiling a global community education initiative. The company aims to empower one million learners and workers by 2030 through inclusive STEM education and partnerships. The launch event will announce investments in education programs and new developments in Technical Education for Communities aligned with the Destination Zero initiative.
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Cummins Inc. discusses the impact of evolving mobility and customer behaviors on the energy transition. The company emphasizes the complexity of the transition and the need for tailored solutions. The PR also highlights a video series, 'The Future of Energy [simplified]', addressing common questions.
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India's carbon footprint differs from the rest of the world due to various factors like population density, energy sources, economic activities, and government policies. Cummins Inc. delves into India's efforts to reduce emissions and transition to sustainable energy sources through 'The Future of Energy [simplified]' video series.
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Cummins Inc. (NYSE:CMI) announces field testing of their diesel hybrid solution in partnership with North Hauler Joint Stock Co., The hybrid truck is a 220 metric ton payload mining truck that aims to provide improved fuel efficiency and reduced emissions. The truck is expected to undergo field testing at Baiyun Iron Mine in China, showcasing Cummins' commitment to decarbonization and innovative solutions for industrial customers.
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Cummins Inc. employees in Chile are partnering with The Nature Conservancy to restore the High Andean wetlands in the Maipo Basin, important for water filtration and flood mitigation. Their efforts have resulted in over 38 million gallons of net water benefits annually.
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Cummins Inc. receives multiple accolades for its commitment to diversity and inclusion, including being named to the Financial Times Diversity Leaders 2024 list, recognized as a Top Hispanic Employer by DiversityComm, and winning Glassdoor's Employees' Choice Awards for Best Places to Work in 2024.
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Cummins Inc. (NYSE: CMI) successfully completed an exchange offer, accepting 5,574,051 shares of Cummins common stock in exchange for 67,054,719 shares of Atmus Filtration Technologies Inc. common stock. The exchange offer was oversubscribed, resulting in a final proration factor of 6.99255200%. Shareholders who owned fewer than 100 shares of Cummins common stock were not subject to proration. Following the exchange, Cummins no longer holds any shares of Atmus common stock, aiming to bring value to both Cummins and Atmus shareholders.
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Cummins Inc. (CMI) announced an oversubscribed exchange offer where shareholders could swap their Cummins common stock for Atmus Filtration Technologies Inc. (ATMU) common stock. 12.0298 shares of Atmus will be exchanged for each Cummins share. Approximately 69,142,112 Cummins shares were tendered, with 5,574,050 shares accepted. Shareholders with fewer than 100 shares were not subject to proration. The final proration factor will be announced on March 18, 2024.
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Cummins Inc. (NYSE: CMI) achieves a milestone with the successful commissioning of a fuel-cell-powered locomotive for freight rail applications in partnership with ÖBB. The project, part of the HY2RAIL initiative, integrates Accelera fuel cells into a 120kW system, meeting stringent railway standards. The transformation from diesel-electric to emissions-free technology marks a significant step towards sustainable heavy-duty transport.
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FAQ

What is the current stock price of Cummins (CMI)?

The current stock price of Cummins (CMI) is $351.38 as of December 20, 2024.

What is the market cap of Cummins (CMI)?

The market cap of Cummins (CMI) is approximately 48.0B.

What does Cummins Inc. specialize in?

Cummins Inc. specializes in designing, manufacturing, distributing, and servicing diesel and natural gas engines and related technologies.

Where is Cummins Inc. headquartered?

Cummins Inc. is headquartered in Columbus, Indiana, USA.

How many employees does Cummins Inc. have?

Cummins Inc. employs approximately 75,500 people worldwide.

In how many countries does Cummins Inc. operate?

Cummins Inc. operates in around 190 countries.

What are some recent achievements of Cummins Inc.?

A recent achievement is the inauguration of a new facility in Jamshedpur, India, focused on producing hydrogen-based internal combustion engines.

What is Cummins' PLANET 2050 strategy?

PLANET 2050 is Cummins' long-term sustainability plan addressing climate change, resource use, and community improvement.

What is the Destination Zero strategy?

The Destination Zero strategy aims at advancing decarbonization and offering zero-emission products.

How did Cummins perform financially in 2023?

In 2023, Cummins reported earnings of $735 million on sales of $34.1 billion.

What are the core business units of Cummins Inc.?

The core business units include Components, Engine, Distribution, Power Systems, and Accelera by Cummins.

How does Cummins contribute to sustainability?

Cummins contributes to sustainability through its PLANET 2050 strategy, producing low to zero-emission products, and sustainable manufacturing practices.

Cummins Inc.

NYSE:CMI

CMI Rankings

CMI Stock Data

47.97B
136.45M
0.41%
86.96%
1.17%
Specialty Industrial Machinery
Engines & Turbines
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United States of America
COLUMBUS