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Cummins Q2 revenues upgrade four percent margin of 30%

Author : Qijing Date : 2015-8-4 8:26:22
 Cummins recently announced the company's second quarter financial report, the quarter benefited from the North American market driven, the company's operating income and EBIT are to achieve growth, the performance of its four business units were up.

The second quarter of this year, Cummins revenues of $ 5.015 billion, compared with $ 4.835 billion over the same period last year, an increase of 4%; EBIT also an upgrade by 14.4% to reach $ 721 million, compared to $ 657 million. In the first half, operating income grew 5.0% to $ 9.724 billion, compared to $ 9.241 billion; EBIT reached $ 1.283 billion, compared with $ 1.185 billion last year, an increase of 13.2% over the same period.

Cummins pointed out that compared to last year, revenue growth in the second quarter of this year mainly due to the acquisition of the North American market and distribution business to promote.

Cummins previous quarter net profit of $ 471 million, compared to $ 446 million, up slightly by 0.35%. Profit margin was 29.5%, compared with 25.4% in the first quarter of last year improved 0.4 percentage points. In the first half, its net profit was $ 858 million, compared with $ 784 million the same period last year, an upgrade of 8.6%. Its earnings report noted that margin improvement was mainly due to increased sales and lower material costs, making the higher costs and the impact of exchange rate fluctuations can be partially offset by warranty.

The business sector, the engine division (Engine) sales last quarter grew 2 percent to $ 2.8 billion, 2% higher in the first half-year to $ 5.393 billion; Distribution Division (Distribution) sales of $ 1.5 billion last quarter, an upgrade of 21% in the first half of $ 2.971 billion, an increase of 26%. Cummins said the rise in distribution segment acquisitions growth was mainly driven by its conduct.

Parts Division (Components) sales for the second quarter rose 9 percent to $ 1.4 billion, compared to $ 1.28 billion; the first half of the sector sales rose 7% to lift $ 2.696 billion, compared to $ 2.51 billion , mainly due to growth in the North American and Chinese markets driven.

    Power Division (Power Generation) to enhance sales are up 1% to $ 743 million from the same period last year increased to $ 747 million; in the first half, the sector was $ 1.427 billion in sales, compared to $ 1.382 billion, an increase of 3.2%. This sector is affected mainly the Middle East, Asia-Pacific and India sales rose, driven by growth in these areas offset the decline in sales in North America asked for.

About this year's financial outlook, Cummins believes revenue will achieve 2-4% growth will achieve EBIT from 13.5 to 14.0 percent growth.