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.
Overview of Cummins Inc.
Cummins Inc. (NYSE: CMI) is a globally renowned power technology leader, headquartered in Columbus, Indiana, USA. The company designs, manufactures, distributes, and services a comprehensive range of power solutions, including diesel and natural gas engines, powertrain components, emission control systems, fuel systems, and electrical power generation systems. With operations in approximately 190 countries and territories through a vast network of 600 company-owned and independent distributor locations and 7,200 dealer locations, Cummins has established itself as a cornerstone in powering industries worldwide.
Core Business Areas
Cummins operates across a range of complementary business segments that cater to diverse industries such as transportation, construction, agriculture, defense, and energy. Its product portfolio includes:
- Engines: High-performance diesel and natural gas engines used in commercial trucks, off-highway machinery, and locomotives.
- Powertrain Components: Turbochargers, transmissions, aftertreatment systems, and fuel systems that enhance vehicle efficiency and performance.
- Power Generation: Standby and prime power generators, microgrid solutions, and energy storage systems for industrial and commercial use.
- Electrification and Zero-Emissions Solutions: Through its Accelera™ by Cummins brand, the company develops hydrogen fuel cells, electrolyzers, and battery-electric power systems to support the global energy transition.
Commitment to Sustainability
Cummins is at the forefront of addressing climate change through its ambitious PLANET 2050 environmental sustainability strategy and Destination Zero initiative. The company has set bold goals to reduce greenhouse gas emissions, improve energy efficiency, and transition to zero-emissions technologies. Notable achievements include:
- A 31% reduction in absolute greenhouse gas emissions from facilities compared to 2018 levels.
- Development of fuel-agnostic engine platforms and green hydrogen production technologies.
- Innovative projects like waterborne paint transitions and energy-efficient manufacturing upgrades to reduce VOC emissions and operational waste.
These efforts underscore Cummins' dual mission: enabling customer success while contributing to a more sustainable and prosperous world.
Competitive Positioning
Cummins competes in a dynamic marketplace where it often faces competition from its own customers, such as heavy-duty truck manufacturers that produce their own engines. Despite this, the company maintains a strong competitive edge through:
- Diversified Portfolio: Its broad range of products ensures it can meet the unique needs of various industries and applications.
- Technological Innovation: Cummins invests heavily in R&D, focusing on both improving traditional technologies and pioneering zero-emissions solutions.
- Global Reach: A robust distribution network and strong customer relationships across 190 countries solidify its market presence.
Future Outlook
Cummins is strategically positioned to navigate the energy transition while continuing to grow its core business. By embracing a technology-neutral approach, the company offers solutions tailored to the diverse needs of its customers, from advanced diesel engines to hydrogen-powered systems. Its investments in innovation, sustainability, and global partnerships ensure it remains a key player in the evolving power technology landscape.
Why Cummins Matters
As industries worldwide grapple with the dual challenges of meeting operational demands and achieving sustainability goals, Cummins stands out as a trusted partner. Its expertise, global presence, and commitment to innovation make it a pivotal force in powering the future of transportation, energy, and industrial applications.
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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FAQ
What is the current stock price of Cummins (CMI)?
The current stock price of Cummins (CMI) is $277.62 as of April 4, 2025.
What is the market cap of Cummins (CMI)?
The market cap of Cummins (CMI) is approximately 38.5B.
What does Cummins Inc. specialize in?
Cummins specializes in designing, manufacturing, and servicing power solutions, including diesel and natural gas engines, powertrain components, and zero-emissions technologies.
How does Cummins generate revenue?
Cummins generates revenue through the sale of power systems, components, and services, including engines, filtration systems, and emerging green technologies like hydrogen fuel cells.
What is the PLANET 2050 strategy?
PLANET 2050 is Cummins' environmental sustainability strategy aimed at reducing greenhouse gas emissions, improving energy efficiency, and achieving carbon neutrality by 2050.
How is Cummins addressing the energy transition?
Cummins is investing in a broad portfolio of zero-emissions technologies, including hydrogen fuel cells, electrolyzers, and battery-electric systems, while improving traditional engine efficiency.
Who are Cummins' main competitors?
Cummins competes with heavy-duty truck manufacturers that produce their own engines, as well as other power solution providers in the industrial and energy sectors.
What industries does Cummins serve?
Cummins serves industries like transportation, construction, agriculture, defense, and energy, providing tailored power solutions for diverse applications.
What is Accelera™ by Cummins?
Accelera™ by Cummins is the company's brand dedicated to zero-emissions technologies, including hydrogen fuel cells, electrolyzers, and battery-electric systems.
How does Cummins support sustainability in manufacturing?
Cummins implements energy-efficient manufacturing processes, reduces VOC emissions, and transitions to sustainable materials like waterborne paints to lower its environmental impact.
What makes Cummins unique in the power technology industry?
Cummins' unique combination of a diversified product portfolio, global reach, and commitment to sustainability positions it as a leader in both traditional and emerging power technologies.
Where is Cummins headquartered?
Cummins is headquartered in Columbus, Indiana, USA, and operates in approximately 190 countries worldwide.
Cummins Inc
NYSE:CMI
CMI Rankings
CMI Stock Data
38.54B
137.24M
0.42%
87.11%
1.14%
Specialty Industrial Machinery
Engines & Turbines
United States
COLUMBUS