$CMI (Cummins Inc.)

$CMI {{ '2016-05-03T12:40:58+0000' | timeago}} • Announcement

Engine maker $CMI reported a drop in 1Q16 earnings due to lower sales across its segments. Net income fell to $321MM or $1.87 per share from $387MM or $2.14 per share last year. Net sales dropped 9% to $4.29Bil, due to lower output in the North American heavy-duty truck market and weak global demand for off-highway and power generation equipment.

$CMI {{ '2017-10-16T16:41:35+0000' | timeago}} • Announcement

$CMI said it is acquiring the assets of Brammo, Inc., which designs and develops battery packs for mobile and stationary applications. Adding Brammo's battery pack expertise and resources is an important milestone in $CMI's efforts to become a global electrified power leader. This acquisition is expected to close by the end of this calendar year.

$CMI {{ '2017-10-10T19:44:27+0000' | timeago}} • Announcement

$CMI has declared a quarterly cash dividend of $1.08 per share on its common stock. The dividend is payable on December 1, 2017, to shareholders of record on November 17, 201.

$CMI {{ '2017-09-27T14:09:06+0000' | timeago}} • Announcement

$CMI, a manufacturer of power generation systems, along with three other firms in the industry is joining an initiative to roll out buses equipped low-emission technologies in 20 cities around the world. The company is planning to start production of electric powertrains for buses by 2019.

$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.

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