STOCK TITAN
  1. Home
  2. News
  3. CMI

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.

News

Cummins Launches Exchange Offer for Separation of Atmus Filtration Technologies Inc.

Rhea-AI Summary
Cummins Inc. announces an exchange offer to fully split off its remaining interest in Atmus Filtration Technologies Inc., allowing Cummins shareholders to exchange their shares for Atmus common stock at a 7% discount. The separation aims to create value for both companies and shareholders, enabling Cummins to focus on strategic initiatives while Atmus expands into new markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.3%
Tags
none
-
News

Cummins Inc. Declares Quarterly Common Stock Dividend

Rhea-AI Summary
Cummins Inc. (CMI) announces a quarterly common stock cash dividend of $1.68 per share, payable on March 7, 2024, to shareholders of record on February 23, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.35%
Tags
dividends
-
News

Cummins Elects John H. Stone to its Board of Directors

Rhea-AI Summary
Cummins Inc. (NYSE: CMI) appoints John H. Stone to its Board of Directors. Stone brings industry expertise and strategic growth experience from his leadership roles at Allegion and Deere & Company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.01%
Tags
management
News

CUMMINS SHAREHOLDER ACTION REMINDER

Rhea-AI Summary
Securities Litigation Partner James (Josh) Wilson is encouraging investors who suffered losses exceeding $100,000 in Cummins to discuss their options. Faruqi & Faruqi, LLP is investigating potential claims against Cummins Inc. regarding federal securities laws violations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.74%
Tags
none
-
News

Cummins Reports Fourth Quarter and Full Year 2023 Results

Rhea-AI Summary
Cummins Inc. reported fourth quarter 2023 revenues of $8.5 billion, with a net loss of $1.4 billion. Full year 2023 revenues were $34.1 billion, with a net income of $735 million. The company expects a 2-5% revenue decline and an EBITDA range of 14.4-15.4% for full year 2024. The outlook reflects anticipated demand slowdown in the North America heavy-duty truck market. Cummins also highlighted its 2023 highlights, including the launch of Accelera by Cummins, joint ventures, acquisitions, and sustainability recognitions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.33%
Tags
earnings
-
News

Accelera by Cummins, Daimler Truck and PACCAR Select Mississippi for Battery Cell Production in the United States

Rhea-AI Summary
Accelera by Cummins, Daimler Trucks & Buses US Holding LLC, and PACCAR have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture. The 21-gigawatt hour (GWh) factory is expected to begin producing battery cells in 2027, creating more than 2,000 U.S. manufacturing jobs. The venture will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks, with EVE Energy as the technology partner. The partners aim to deliver cost-effective and differentiated battery cell technology to support the adoption of electric vehicles for medium- and heavy-duty commercial transportation. The transaction is subject to customary closing conditions and receipt of applicable merger control and regulatory approvals.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.71%
Tags
none
News

Accelera by Cummins, Daimler Truck and PACCAR select Mississippi for battery cell production in the United States

Rhea-AI Summary
Cummins Inc., Daimler Trucks & Buses US Holding LLC, and PACCAR have chosen Marshall County, Mississippi, as the future site for advanced battery cell manufacturing for their joint venture. The 21-gigawatt hour (GWh) factory is expected to create over 2,000 U.S. manufacturing jobs and will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks, with production set to begin in 2027. EVE Energy will serve as the technology partner in the joint venture with 10% ownership. The joint venture aims to deliver cost-effective battery cell technology to support the adoption of electric vehicles for medium- and heavy-duty commercial transportation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
Tags
none
-
News

Eaton Cummins Endurant XD Series Transmission Now Available at International Truck

Rhea-AI Summary
Eaton Cummins Automated Transmission Technologies announces the availability of its Endurant XD™ series automated transmission in select International® truck models in North America. The 18-speed automated transmissions are designed for high gross combined weight ratings and harsh environments, offering low speed maneuverability, smart shifting decisions, and tailored configurations. The joint venture between Eaton (ETN) and Cummins, Inc. (CMI) aims to deliver capability, efficiency, and uptime for International fleets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.72%
Tags
none
-
News

Cummins reaches agreement in principle to settle regulatory proceedings regarding its emissions certification and compliance process for pick-up truck applications

Rhea-AI Summary
Cummins Inc (NYSE: CMI) has reached an agreement in principle to resolve U.S. regulatory claims regarding its emissions certification and compliance process for certain engines primarily used in pick-up truck applications. The company has cooperated fully with the relevant regulators, already addressed many of the issues involved, and looks forward to obtaining certainty as it concludes this lengthy matter. Cummins conducted an extensive internal review and worked collaboratively with the regulators for more than four years. The company has seen no evidence that anyone acted in bad faith and does not admit wrongdoing. The settlements are subject to final regulatory and judicial approvals. Cummins expects to record a charge of approximately $2.04 billion in the fourth quarter of 2023 to resolve these and other related matters involving approximately one million pick-up truck applications in the United States. Of this amount, approximately $1.93 billion relates to payments that are expected to be made in the first half of 2024. The balance reflects our best estimate of related expenses that will impact cash flow in future periods. The company is in a strong financial position with existing liquidity and access to capital to satisfy obligations associated with the settlements, support ongoing operations, and execute its growth strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.87%
Tags
none
News

Eaton Cummins Endurant XD series transmission now available in Freightliner and Western Star vocational products.

Rhea-AI Summary
Eaton Cummins Automated Transmission Technologies (ETN) announces the availability of its Endurant XD™ series automated transmission in select vocational Western Star and Freightliner models, subsidiaries of Daimler Truck North America. The Endurant XD series, part of the Cummins integrated powertrain, is designed for high gross combined weight rating applications, such as heavy-haul and double- and triple-trailer tractors, and heavy-duty vocational trucks operating in harsh environments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.06%
Tags
none

FAQ

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

The current stock price of Cummins (CMI) is $368.86 as of November 21, 2024.

What is the market cap of Cummins (CMI)?

The market cap of Cummins (CMI) is approximately 50.6B.

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.

Stock CMI logo
Cummins Inc.

NYSE:CMI

CMI Rankings

#275 Ranked by Market Cap
#1383 Ranked by Dividends

CMI Stock Data

50.59B
136.49M
0.4%
86.81%
1.23%
Specialty Industrial Machinery
Engines & Turbines
Link
United States of America
COLUMBUS