Columbus, Indiana-based Cummins, Inc. (NYSE: CMI) kicked off its centennial celebration on February 6 and announced record full year revenues of $23.8 billion, 16 percent higher than 2017. According to a company release, revenues in North America increased 19 percent and international sales grew 12 percent, with growth in all major regions. EBITDA for the year was a record $3.5 billion or 14.6 percent of sales, and net income for the full year was $2.1 billion ($13.15 per diluted share), compared to a net income of $999 million ($5.97 per diluted share), or $1.8 billion ($10.62 per diluted share) excluding the impact of tax legislation.
“I want to thank the more than 60,000 global employees who made our 2018 record sales and profits a reality,” said Chairman and CEO Tom Linebarger. “2019 is an historic year for Cummins as we celebrate the 100th anniversary of our company, and project another record year of financial results. Our financial strength allows us to continue investing and innovating across our broad portfolio of power solutions to remain a global technology leader for the next 100 years while continuing to return significant capital to investors.”
More info at www.cummins.com.