Columbus-based Cummins Inc. (NYSE: CMI) is reporting second quarter net income of $424 million, compared to $406 million during the same quarter last year. Chief Executive Officer Tom Linebarger says all four operating segments “delivered strong revenue growth” and the company has raised its full-year outlook for 2017.
He says the strong numbers were boosted by “improving conditions in a number of important markets where we also have leading share.” Linebarger added stronger-than-expected orders in North American and Chinese truck and construction markets, as well as increased global mining customer demand are leading the manufacturer to increase its revenue forecast for the full-year from 4 to 7 percent to 9 to 11 percent.
North America revenues jumped 13 percent and international sales were up 11 percent in the 2017 second quarter, compared to the same period in 2016. During the quarter, Cummins says its $600 million Eaton Cummins Automated Transmission Technologies joint venture with Eaton (NYSE: ETN) has been successfully completed.