$CMI (Cummins Inc.)

$CMI {{ '2016-04-07T15:29:12+0000' | timeago}} • Announcement

Filtration systems company $CMI said it was awarded a $4.5MM grant from the US Department of Energy to develop a Class 6 commercial plug-in hybrid electric vehicle that can reduce fuel consumption by at least 50% over conventional Class 6 vehicles. $CMI is partnering with PACCAR on the project.

$URI {{ '2017-08-23T11:53:23+0000' | timeago}} • Announcement

$URI has acquired power equipment assets, primarily mobile rental generator sets, from $CMI. The acquisition involves Cummins mobile rental generator fleet. To maintain customer and fleet continuity, a small number of Cummins employees in the US and Canada have joined United Rentals.

$CMI {{ '2017-08-16T12:28:21+0000' | timeago}} • Announcement

In a bid to reduce greenhouse gas emissions, $CMI has entered into a virtual power purchase agreement with EDP Renewables North America to expand a wind farm in Northern Indiana. This will add 75MW to the existing 600MW capacity at the Meadow Lake Wind Farm complex.

$CMI {{ '2017-07-11T20:08:41+0000' | timeago}} • Announcement

$CMI's BoD approved an increase in the company's quarterly cash dividend on common stock from $1.025 per share, to $1.08 per share, payable on September 1, 2017, to shareholders of record on August 18, 2017.

$CMI {{ '2017-07-11T19:53:34+0000' | timeago}} • Announcement

$CMI announced the election of two new members to its BoD, Karen Quintos, EVP and Chief Customer Officer, Dell Technologies Inc. and Rich Freeland, President and COO of $CMI.

$CMI {{ '2017-05-09T19:30:52+0000' | timeago}} • Announcement

$CMI's BoD declared quarterly common stock cash dividend of $1.025 per share. The dividend is payable on June 1, 2017, to shareholders of record on May 19, 2017.

$ETN {{ '2017-05-02T16:13:02+0000' | timeago}} • Webcast

$ETN said the $CMI joint venture will strategically advance its transmission business going forward, and expects the transaction to close in 3Q17. $ETN and $CMI formed a JV for automated transmissions for heavy-duty and medium-duty commercial vehicles. The JV will be named Eaton Cummins Automated Transmission Technologies.

$CMI {{ '2017-05-02T15:24:08+0000' | timeago}} • Webcast

$CMI clarified that the filtration business is not for sale. The company would not link the sale of a division with the need to acquire another business. $CMI added that it would consider selling a part of the company if it believes that division is no longer strategically essential for the company and if it gets a better valuation for that unit.

$CMI {{ '2017-05-02T14:52:57+0000' | timeago}} • Webcast

On the Eaton joint venture, $CMI commented that it is convinced that leading powertrains will be integrated. The company believes that it is getting a leading technology which it can implement and $ETN and $CMI share their cultural values. With this JV, $CMI sees opportunities for growth internationally.

$CMI {{ '2017-05-02T11:59:47+0000' | timeago}} • Announcement

$CMI expects full year 2017 revenues to be up 4-7%, compared to prior guidance of flat to down 5%. EBIT is projected to be in the range of 11.75-12.5% of sales, up from 11-11.5%. This guidance excludes the impact of the new JV with Eaton, which is expected to be operational in 3Q17, subject to regulatory approvals.

$CMI {{ '2017-05-02T11:55:11+0000' | timeago}} • Announcement

Engines, filtration, and power generation products manufacturer $CMI reported a jump in 1Q17 earnings, helped by new product launches and higher revenue. Net income attributable to the company increased 23.36% to $396MM or $2.36 per share from $321MM or $1.87 per share a year ago. Revenue increased 6.94% YoY to $4.58Bil.

$ETN {{ '2017-04-10T16:24:19+0000' | timeago}} • Announcement

$ETN and $CMI agreed to form a joint venture for automated transmissions for heavy-duty and medium-duty commercial vehicles. $CMI will consolidate JV results as part of its Components business segment. $ETN will receive $600MM in cash from $CMI for 50% interest in the JV.

$ETN {{ '2017-04-10T16:22:25+0000' | timeago}} • Announcement

$ETN and $CMI agreed to form a joint venture for automated transmissions for heavy-duty and medium-duty commercial vehicles. The JV will be named Eaton Cummins Automated Transmission Technologies. $CMI and $ETN will each own 50% of the new JV. The parties expect the transaction to close in 3Q17.

$CMI {{ '2017-02-14T20:55:57+0000' | timeago}} • Announcement

$CMI BoD declared a quarterly common stock cash dividend of 1.025 dollars per share, payable on March 6, 2017, to shareholders of record on February 24, 2017.

$CMI {{ '2017-02-09T17:05:17+0000' | timeago}} • Webcast

$CMI said it has returned 75% of operational cash flow to shareholders in 2016, and will return at least 50% in 2017 through dividends and share repurchases.

$CMI {{ '2017-02-09T17:00:37+0000' | timeago}} • Webcast

$CMI saw increased revenue in China market despite losing the market share during 2016. Revenue in China, including JVs, was $3.5Bil for the year, an increase of 6% YoY. The company's market share, however, was 15%, down from 16% in 2015.

$CMI {{ '2017-02-09T12:48:02+0000' | timeago}} • Announcement

$CMI expects 2017 revenue to be flat to down 5% and EBIT to be 11-11.5% of sales. Results in 1Q17 will continue to be challenged by difficult markets and are expected to mark the low point of the year. The company expects to return at least 50% of Operating Cash Flow to shareholders in 2017 in the form of dividends and share repurchases.

$CMI {{ '2017-02-09T12:46:34+0000' | timeago}} • Announcement

$CMI reported a jump in 4Q16 earnings driven by lower costs and expenses. Net income rose to $378MM or $2.25 per share from $161MM or $0.92 per share last year. Net sales fell 6% to $4.5Bil, on lower commercial truck production in North America and weak global demand for industrial engines and power generation equipment.

$CMI {{ '2016-12-16T13:47:59+0000' | timeago}} • Announcement

The Board of Directors of $CMI authorized the company to repurchase up to $1Bil in shares of common stock upon completion of its 2015 $1Bil share repurchase program.

$CMI {{ '2016-11-01T20:07:22+0000' | timeago}} • Webcast

$CMI reported that it is on track to launch a new revolutionary engine in late 2017, which will be produced in China. The company added that multiple OEMs have signed up to use that product.

$CMI {{ '2016-11-01T19:41:15+0000' | timeago}} • Webcast

$CMI reported that earlier in Oct., it acquired the last remaining North American distributor. This brings the total acquisitions to 13 since the company announced the plan in September 2013.

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