Cummins Corporation released its third-quarter financial report on October 25, 2011. The report shows that Cummins's third-quarter sales and net income both showed strong growth.
Cummins's sales for the third quarter were $4.6 billion, an increase of 36% over the same period in 2010, and the company's businesses all experienced double-digit growth. EBIT was US$640 million (13.8% of sales), and EBIT in 2010 was US$449 million (13.2% of sales). Third-quarter net income was US$452 million, a year-on-year increase of 60%, and earnings per share was US$2.35; net income for the same period of 2010 was US$283 million, and earnings per share was US$1.44. Cummins expects sales for the full year of 2011 to be between $17 billion and $18 billion, which means a 30% increase over 2010. EBIT can reach 14% to 14.5% of sales.
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