Latest news with #Rumsey
Yahoo
20-05-2025
- Automotive
- Yahoo
CMI Q1 Earnings Call: Power Systems Outperformance and Uncertainty from Tariffs Shape Outlook
Engine manufacturer Cummins (NYSE:CMI) reported Q1 CY2025 results beating Wall Street's revenue expectations , but sales fell by 2.7% year on year to $8.17 billion. Its non-GAAP profit of $5.96 per share was 21% above analysts' consensus estimates. Is now the time to buy CMI? Find out in our full research report (it's free). Revenue: $8.17 billion vs analyst estimates of $8.13 billion (2.7% year-on-year decline, 0.6% beat) Adjusted EPS: $5.96 vs analyst estimates of $4.92 (21% beat) Adjusted EBITDA: $1.46 billion vs analyst estimates of $1.31 billion (17.9% margin, 11.2% beat) Operating Margin: 13.9%, up from 11% in the same quarter last year Free Cash Flow was -$165 million, down from $107 million in the same quarter last year Market Capitalization: $46.08 billion Cummins' first quarter results were shaped by robust performance in its Power Systems segment and strong aftermarket demand, even as core North American truck markets softened. CEO Jennifer Rumsey emphasized the launch of new engine platforms and the acquisition of hybrid retrofit technology as key factors in operational improvement. She noted, 'We achieved impressive results in the first quarter with record financial performance in our Power Systems business,' while cautioning about increasing uncertainty from trade tariffs and regulatory changes. Looking ahead, management withheld full-year guidance due to the evolving impact of tariffs and unclear regulatory timelines, particularly for emissions standards in North America. Rumsey described the environment as highly uncertain, stating, 'The breadth and changing nature of the tariffs have introduced a great degree of uncertainty and mean that at this time, we are unable to predict with confidence our expected performance for the year.' The company is closely monitoring demand trends across segments, with particular focus on aftermarket strength and the timing of new product introductions. Management attributed the quarter's profitability to a combination of operational improvements, segment-specific momentum, and proactive pricing, while also flagging near-term risks from trade policy and regulatory uncertainty. Power Systems Margin Expansion: Operational enhancements and broad-based demand—especially in data centers, mining, and rebuilds—drove record profitability, with aftermarket sales exceeding expectations. Aftermarket and Pricing Gains: Aftermarket volumes increased across several segments, supported by successful price increases and cost control, notably within the engine and distribution businesses. Data Center Demand: Accelerating demand for data center backup power in both the U.S. and China contributed to growth, but management clarified that aftermarket strength was broad-based and not solely tied to this market. Product Launches and Acquisitions: The introduction of the X10 and B7.2 engine platforms and the acquisition of First Mode's retrofit hybrid technology for mining/rail reinforced Cummins' focus on decarbonization and product renewal. Tariff and Regulatory Complexities: Management highlighted that tariffs had minimal impact in Q1 but expect growing effects in future quarters, particularly as inventory and supply chain mitigation options diminish. They also noted ongoing uncertainty around 2027 emissions regulations and the potential for additional tariffs under Section 232 investigations. Management's outlook is shaped by the potential duration and scope of tariffs, regulatory changes, and mixed demand signals across end markets, all of which introduce significant unpredictability for the remainder of the year. Tariff Uncertainty: The evolving landscape of U.S. and international tariffs is expected to impact both costs and demand, with management planning to pass on costs where possible but acknowledging some lag and risk to overall economic activity. Regulatory Timeline: Pending emissions regulations in North America create uncertainty for new product adoption and customer purchasing decisions, with the 2027 NOx rule and potential changes to greenhouse gas standards being closely monitored. Aftermarket and Power Systems Resilience: Management views the Power Systems and aftermarket segments as having more predictable multi-year demand, with the ability to reallocate orders if needed, while on-highway engine and components businesses remain exposed to cyclical swings. Jamie Cook (Truist Securities): Asked about the quantifiable impact of tariffs and visibility by segment; management declined to provide specifics, citing ongoing uncertainty and noted actions to mitigate and pass on costs. Jerry Revich (Goldman Sachs): Inquired if Power Systems margins are sustainable and about regulatory impacts on engine platforms; management said margins reflect underlying improvements but may fluctuate with demand and regulatory clarity. Angel Castillo (Morgan Stanley): Sought detail on near-term tariff effects and aftermarket drivers; management stated tariff impacts were immaterial in Q1 but will grow, and aftermarket strength is broad-based, not just data center-driven. Tim Thein (Raymond James): Probed on expectations for parts demand and joint venture income; management expects parts demand to remain resilient but noted joint venture income could be lumpy and may moderate. David Raso (Evercore ISI): Questioned whether demand concerns stem from actual price pushback or general macro uncertainty; management attributed order caution to broader economic and regulatory uncertainties rather than direct price resistance. In the coming quarters, the StockStory team will be tracking (1) the impact of newly enacted and potential tariffs on both costs and order volumes as mitigation strategies phase out, (2) the pace and outcome of regulatory developments around 2027 emissions standards and Section 232 investigations, and (3) sustained strength in Power Systems and aftermarket demand, including the adoption of new engine platforms and decarbonization technologies. Execution on these fronts will be critical for assessing Cummins' resilience in a volatile environment. Cummins currently trades at a forward EV-to-EBITDA ratio of 11.5×. At this valuation, is it a buy or sell post earnings? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
Business Wire
05-05-2025
- Business
- Business Wire
Cummins Reports First Quarter 2025 Results
COLUMBUS, Ind.--(BUSINESS WIRE)--Cummins Inc. (NYSE: CMI) today reported results for the first quarter of 2025. 'The company delivered strong financial results in the first quarter of 2025 led by record performance in our Power Systems Segment,' said Jennifer Rumsey, Chair and CEO. 'I want to thank our global employees for their commitment to delivering for our customers in an increasingly challenging environment. Due to growing economic uncertainty driven by tariffs we have withdrawn our full year forecast.' First quarter revenues of $8.2 billion decreased 3% from the same quarter in 2024. Sales in North America decreased 1%, and international revenues decreased 5% due to lower demand in Latin America and Asia Pacific, partially offset by higher sales in China. Net income attributable to Cummins in the first quarter was $824 million, or $5.96 per diluted share, compared to $2.0 billion, or $14.03 per diluted share, in 2024. The first quarter of 2024 included the gain related to the separation of Atmus, net of transaction costs and other expenses, of $1.3 billion, or $9.08 per diluted share, and restructuring expenses of $29 million, or $0.15 per diluted share. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the first quarter were $1.5 billion, or 17.9% of sales, compared to $2.6 billion, or 30.6% of sales, a year ago. EBITDA for the first quarter of 2024 included the gain and costs noted above. 2025 Outlook: Due to growing economic uncertainty, the company is not providing an outlook for revenue or profitability for the remainder of 2025. 'While the outlook for the remainder of the year remains unclear, we remain confident in our position and that our Destination Zero strategy is the right one,' said Rumsey. 'Cummins is in a strong position to navigate through economic uncertainty, and we look forward to reinstating our forecast when conditions allow.' First Quarter 2025 Highlights: Cummins introduced the much-anticipated X10 as part of our Cummins HELM™ platforms. This engine replaces both the L9 and X12 engine platforms to deliver a new level of performance, durability and efficiency for heavy and medium-duty customers. Alongside the X15 and B Series, the X10 provides customers with a power solution to meet their unique operational requirements while maintaining the performance and reliability for which Cummins is known. Cummins also unveiled the new Cummins B7.2 diesel engine that brings the latest technology and advancements to one of our most proven platforms. The new engine will feature a slightly higher displacement and is designed to be a global platform which creates flexibility for different applications and duty cycles. Both the B7.2 and X10 engines will be manufactured at Rocky Mount Engine Plant in North Carolina and will go into production in North America in 2027. In February, Cummins announced the acquisition of assets of First Mode, a leader in retrofit hybrid solutions for mining and rail operations. The acquisition included hybrid mining and rail product lines, and the full technology portfolio which includes hydrogen and battery powertrain solutions. This technology represents the first commercially available retrofit hybrid system for mining equipment, significantly reducing total cost of ownership (TCO) while advancing decarbonization in operations. Accelera™ by Cummins announced the supply of a 100-megawatt proton exchange membrane (PEM) electrolyzer system for bp's Lingen green hydrogen project in Germany. The hydrogen-generation system will be the largest electrolyzer system assembled by Accelera to date and will be manufactured in Accelera's new electrolyzer plant in Spain. Once fully commissioned in 2027, the 100 MW electrolyzer system will produce up to 11,000 tons of green hydrogen per year. 1 Generally Accepted Accounting Principles in the U.S. First quarter 2025 detail (all comparisons to same period in 2024): Engine Segment Sales - $2.8 billion, down 5% Segment EBITDA - $458 million, or 16.5% of sales, compared to $414 million, or 14.1% of sales Revenues decreased 4% in North America and 11% in international markets due to lower on-highway demand in the United States and Latin America. Components Segment Sales - $2.7 billion, down 20% Segment EBITDA - $382 million, or 14.3% of sales, compared to $473 million, or 14.2% of sales, which includes $21 million of costs related to the separation of Atmus Revenues in North America decreased by 20% and international sales decreased by 20% primarily due to the separation of Atmus and lower on-highway demand in the United States and Europe. Distribution Segment Sales - $2.9 billion, up 15% Segment EBITDA - $376 million, or 12.9% of sales, compared to $294 million, or 11.6% of sales Revenues in North America increased 22% and international sales decreased by 1% primarily due to increased demand for power generation products in North America and favorable pricing. Power Systems Segment Sales - $1.6 billion, up 19% Segment EBITDA - $389 million, or 23.6% of sales, compared to $237 million, or 17.1% of sales Revenues in North America increased 15% and international sales increased 22% driven primarily by increased power generation demand, particularly for the data center market. Accelera Segment Sales - $103 million, up 11% Segment EBITDA loss - $86 million Revenues improved due to increased eMobility demand and electrolyzer installations. The company remains committed to pacing and focusing our zero emissions investments on the most promising paths in order to ensure we are set up for long-term success as part of our Destination Zero strategy. These continued investments contributed to the EBITDA losses. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Engine, Components, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company's commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, electrified power systems with innovative components and subsystems, including battery, fuel cell and electric power technologies and hydrogen production technologies. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 69,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment, and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $3.9 billion on sales of $34.1 billion in 2024. See how Cummins is powering a world that's always on by accessing news releases and more information at Forward-looking disclosure statement Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse consequences resulting from entering into the Settlement Agreements, including required additional mitigation projects, adverse reputational impacts and potential resulting legal actions; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; evolving environmental and climate change legislation and regulatory initiatives; changes in international, national and regional trade laws, regulations and policies; changes in taxation; global legal and ethical compliance costs and risks; future bans or limitations on the use of diesel-powered products; raw material, transportation and labor price fluctuations and supply shortages; aligning our capacity and production with our demand; the actions of, and income from, joint ventures and other investees that we do not directly control; large truck manufacturers' and original equipment manufacturers' customers discontinuing outsourcing their engine supply needs or experiencing financial distress, or change in control; product recalls; variability in material and commodity costs; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; product liability claims; our sales mix of products; climate change, global warming, more stringent climate change regulations, accords, mitigation efforts, greenhouse gas regulations or other legislation designed to address climate change; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions, divestitures or exiting the production of certain product lines or product categories and related uncertainties of such decisions; increasing interest rates; challenging markets for talent and ability to attract, develop and retain key personnel; exposure to potential security breaches or other disruptions to our information technology (IT) environment and data security; the use of artificial intelligence in our business and in our products and challenges with properly managing its use; political, economic and other risks from operations in numerous countries including political, economic and social uncertainty and the evolving globalization of our business; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; failure to meet sustainability expectations or standards, or achieve our sustainability goals; labor relations or work stoppages; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates; the price and availability of energy; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2024 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at or at in the Investor Relations section of our website. Presentation of Non-GAAP Financial Information EBITDA is a non-GAAP measure used in this release and is defined and reconciled to what management believes to be the most comparable GAAP measure in a schedule attached to this release, except for forward-looking measures of EBITDA where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the non-cash items that are excluded from the non-GAAP outlook measure. Cummins presents this information as it believes it is useful to understanding the Company's operating performance, and because EBITDA is a measure used internally to assess the performance of the operating units. Webcast information Cummins management will host a teleconference to discuss these results today at 10 a.m. EDT. This teleconference will be webcast and available on the Investor Relations section of the Cummins website at Participants wishing to view the visuals available with the audio are encouraged to sign-in a few minutes prior to the start of the teleconference. CUMMINS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (a) In millions, except par value March 31, 2025 December 31, 2024 ASSETS Current assets Cash and cash equivalents $ 1,532 $ 1,671 Marketable securities 626 593 Total cash, cash equivalents and marketable securities 2,158 2,264 Accounts and notes receivable, net 5,680 5,181 Inventories 6,123 5,742 Prepaid expenses and other current assets 1,579 1,565 Total current assets 15,540 14,752 Long-term assets Property, plant and equipment, net 6,407 6,356 Investments and advances related to equity method investees 1,990 1,889 Goodwill 2,397 2,370 Other intangible assets, net 2,401 2,351 Pension assets 1,150 1,189 Other assets 2,646 2,633 Total assets $ 32,531 $ 31,540 LIABILITIES Current liabilities Accounts payable (principally trade) $ 4,311 $ 3,951 Loans payable 291 356 Commercial paper 1,740 1,259 Current maturities of long-term debt 661 660 Accrued compensation, benefits and retirement costs 523 1,084 Current portion of accrued product warranty 685 679 Current portion of deferred revenue 1,506 1,347 Other accrued expenses 1,858 1,898 Total current liabilities 11,575 11,234 Long-term liabilities Long-term debt 4,796 4,784 Deferred revenue 1,053 1,065 Other liabilities 3,136 3,149 Total liabilities $ 20,560 $ 20,232 EQUITY Cummins Inc. shareholders' equity Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued $ 2,600 $ 2,636 Retained earnings 21,401 20,828 Treasury stock, at cost, 84.8 and 85.1 shares (10,711 ) (10,748 ) Accumulated other comprehensive loss (2,366 ) (2,445 ) Total Cummins Inc. shareholders' equity 10,924 10,271 Noncontrolling interests 1,047 1,037 Total equity $ 11,971 $ 11,308 Total liabilities and equity $ 32,531 $ 31,540 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. Expand CUMMINS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (a) Three months ended March 31, In millions 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Consolidated net income $ 850 $ 2,028 Adjustments to reconcile consolidated net income to net cash (used in) provided by operating activities Gain related to divestiture of Atmus — (1,333 ) Depreciation and amortization 269 265 Deferred income taxes (25 ) (38 ) Equity in income of investees, net of dividends (70 ) (78 ) Pension and OPEB expense 19 9 Pension contributions and OPEB payments (13 ) (48 ) Changes in current assets and liabilities, net of acquisitions and divestiture Accounts and notes receivable (457 ) (11 ) Inventories (331 ) (354 ) Other current assets (36 ) (175 ) Accounts payable 330 327 Accrued expenses (487 ) (393 ) Other, net (52 ) 77 Net cash (used in) provided by operating activities (3 ) 276 CASH FLOWS FROM INVESTING ACTIVITIES Capital expenditures (162 ) (169 ) Investments in and net advances to equity investees (60 ) (3 ) Acquisition of businesses, net of cash acquired (12 ) (59 ) Investments in marketable securities—acquisitions (457 ) (379 ) Investments in marketable securities—liquidations 432 431 Cash associated with Atmus divestiture — (174 ) Other, net 13 (53 ) Net cash used in investing activities (246 ) (406 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from borrowings 52 2,398 Net borrowings (payments) of commercial paper 481 (887 ) Payments on borrowings and finance lease obligations (144 ) (748 ) Dividend payments on common stock (251 ) (239 ) Other, net (46 ) (25 ) Net cash provided by financing activities 92 499 18 (7 ) Net (decrease) increase in cash and cash equivalents (139 ) 362 Cash and cash equivalents at beginning of year 1,671 2,179 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 1,532 $ 2,541 (a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America. Expand CUMMINS INC. AND SUBSIDIARIES SEGMENT INFORMATION (Unaudited) In millions Engine Components Distribution Power Systems Accelera Total Segments Intersegment Eliminations (1) Total Three months ended March 31, 2025 External sales $ 2,040 $ 2,270 $ 2,902 $ 872 $ 90 $ 8,174 $ — $ 8,174 Intersegment sales 731 400 5 777 13 1,926 (1,926 ) — Total sales 2,771 2,670 2,907 1,649 103 10,100 (1,926 ) 8,174 Research, development and engineering expenses 155 75 14 57 43 344 — 344 Equity, royalty and interest income (loss) from investees 73 7 28 29 (6 ) 131 — 131 Interest income 10 7 5 4 — 26 — 26 EBITDA (2) 458 382 376 389 (86 ) 1,519 (59 ) 1,460 Depreciation and amortization (3) 67 122 32 33 12 266 — 266 EBITDA as a percentage of total sales 16.5 % 14.3 % 12.9 % 23.6 % NM 15.0 % 17.9 % Three months ended March 31, 2024 External sales $ 2,240 $ 2,842 $ 2,529 $ 708 $ 84 $ 8,403 $ — $ 8,403 Intersegment sales 688 490 6 681 9 1,874 (1,874 ) — Total sales 2,928 3,332 2,535 1,389 93 10,277 (1,874 ) 8,403 Research, development and engineering expenses 154 84 14 60 55 367 2 369 Equity, royalty and interest income (loss) from investees 57 26 24 19 (3 ) 123 — 123 Interest income 7 8 11 3 — 29 — 29 EBITDA (2) 414 473 (4 ) 294 237 (101 ) 1,317 1,255 2,572 Depreciation and amortization (3) 58 125 31 34 14 262 — 262 EBITDA as a percentage of total sales 14.1 % 14.2 % 11.6 % 17.1 % NM 12.8 % 30.6 % (1) Included intersegment sales, intersegment profit in inventory and unallocated corporate expenses. There were no significant unallocated corporate expenses for the three months ended March 31, 2025. The three months ended March 31, 2024, included a $1.3 billion gain related to the divestiture of Atmus and $14 million of costs associated with the divestiture of Atmus. (2) EBITDA is defined as earnings or losses before interest expense, income taxes, depreciation and amortization and noncontrolling interests. We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. (3) Depreciation and amortization, as shown on a segment basis, excluded the amortization of debt discount and deferred costs included in the Condensed Consolidated Statements of Net Income as interest expense. The amortization of debt discount and deferred costs was $3 million and $3 million for the three months ended March 31, 2025 and 2024, respectively. A portion of depreciation expense is included in research, development and engineering expenses. (4) Included $21 million of costs associated with the divestiture of Atmus for the three months ended March 31, 2024. Expand CUMMINS INC. AND SUBSIDIARIES SELECT FOOTNOTE DATA (Unaudited) Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting periods was as follows: INCOME TAXES Our effective tax rate for 2025, excluding discrete items, is expected to approximate 24.5 percent. Our effective tax rates for the three months ended March 31, 2025 and 2024, were 23.9 percent and 8.7 percent, respectively. The three months ended March 31, 2025, contained net favorable discrete tax items of $7 million, or $0.05 per diluted share, primarily due to $8 million of favorable share-based compensation tax benefits, partially offset by $1 million of other unfavorable tax items. The three months ended March 31, 2024, contained favorable discrete tax items primarily due to the $1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were $21 million favorable primarily due to adjustments related to audit settlements. CUMMINS INC. AND SUBSIDIARIES FINANCIAL MEASURES THAT SUPPLEMENT GAAP (Unaudited) Reconciliation of Non GAAP measures - Earnings before interest, income taxes, depreciation and amortization and noncontrolling interests (EBITDA) We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors. We believe EBITDA excluding special items is a useful measure of our operating performance without regard to the impact of the gain recognized and the related costs for the divestiture of Atmus and restructuring actions. This statement excludes forward looking measures of EBITDA where a reconciliation to the corresponding accounting principles generally accepted in the United States (GAAP) measures is not available due to the variability, complexity and limited visibility of non-cash items that are excluded from the non-GAAP outlook measure. EBITDA is not in accordance with, or an alternative for, GAAP and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA calculation are derived from amounts included in the Condensed Consolidated Statements of Net Income. Below is a reconciliation of net income attributable to Cummins Inc. to EBITDA for each of the applicable periods: CUMMINS INC. AND SUBSIDIARIES SEGMENT SALES DATA (Unaudited) Engine Segment Sales by Market and Unit Shipments by Engine Classification Sales for our Engine segment by market were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Heavy-duty truck $ 921 $ — $ — $ — $ 921 Medium-duty truck and bus 986 — — — 986 Light-duty automotive 421 — — — 421 Off-highway 443 — — — 443 Total sales $ 2,771 $ — $ — $ — $ 2,771 2024 In millions Q1 Q2 Q3 Q4 YTD Heavy-duty truck $ 1,059 $ 1,184 $ 1,021 $ 980 $ 4,244 Medium-duty truck and bus 995 1,074 1,073 1,024 4,166 Light-duty automotive 438 461 395 301 1,595 Off-highway 436 432 424 415 1,707 Total sales $ 2,928 $ 3,151 $ 2,913 $ 2,720 $ 11,712 Expand Unit shipments by engine classification (including unit shipments to Power Systems and off-highway engine units included in their respective classification) were as follows: Components Segment Sales by Business Sales for our Components segment by business were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Drivetrain and braking systems $ 1,056 $ — $ — $ — $ 1,056 Emission solutions 902 — — — 902 Components and software 595 — — — 595 Automated transmissions 117 — — — 117 Total sales $ 2,670 $ — $ — $ — $ 2,670 2024 In millions Q1 Q2 Q3 Q4 YTD Drivetrain and braking systems $ 1,232 $ 1,256 $ 1,131 $ 1,114 $ 4,733 Emission solutions 971 941 864 825 3,601 Components and software 611 623 581 589 2,404 Automated transmissions 165 162 148 113 588 Atmus (1) 353 — — — 353 (1) Included sales through the March 18, 2024, divestiture. Expand Distribution Segment Sales by Product Line Sales for our Distribution segment by product line were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 1,090 $ — $ — $ — $ 1,090 Parts 1,031 — — — 1,031 Service 416 — — — 416 Engines 370 — — — 370 Total sales $ 2,907 $ — $ — $ — $ 2,907 2024 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 707 $ 954 $ 1,091 $ 1,220 $ 3,972 Parts 1,001 990 1,004 985 3,980 Service 406 448 455 444 1,753 Engines 421 437 402 419 1,679 Total sales $ 2,535 $ 2,829 $ 2,952 $ 3,068 $ 11,384 Expand Power Systems Segment Sales by Product Line and Unit Shipments by Engine Classification Sales for our Power Systems segment by product line were as follows: 2025 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 1,001 $ — $ — $ — $ 1,001 Industrial 498 — — — 498 Generator technologies 150 — — — 150 Total sales $ 1,649 $ — $ — $ — $ 1,649 2024 In millions Q1 Q2 Q3 Q4 YTD Power generation $ 853 $ 987 $ 1,055 $ 1,090 $ 3,985 Industrial 420 478 508 526 1,932 Generator technologies 116 124 124 127 491 Total sales $ 1,389 $ 1,589 $ 1,687 $ 1,743 $ 6,408 Expand High-horsepower unit shipments by engine classification were as follows:
Yahoo
25-04-2025
- Yahoo
Two men charged in Newport, N.C. overdose death case
CARTERET COUNTY, N.C. (WNCT) — On Wednesday, Apr. 23, 2025, two men were charged for the overdose death of an individual in Newport. Francis Edward Vandevord, 51, and Jamie Allan Rumsey, 50, both of Newport, were charged for the overdose death of Benny Ray Weeks, 62, of Newport. This death investigation started on November 7, 2024, when detectives were called to the home of Weeks after he was found deceased. Investigation revealed that Vandevoord and Rumsey had acted together to sell Fentanyl to Weeks prior to his death. This led to Vadevoord and Rumsey being charged with the sale and delivery of Fentanyl in December of 2024. On Tuesday, Apr. 22, 2025, the NC Office of the Chief Medical Examiner released Weeks' official cause of death as Fentanyl and Methamphetamine Toxicity. This led to Rumsey and Vandevoord also being charged with Death by Distribution-Sale on Apr. 23, 2025. Rumsey is being held in the Onslow County Jail on unrelated charges and will be transferred to Carteret County for a first appearance. Vandevoord had a first appearance in Carteret County's District Court on the morning of Friday, Apr. 25, 2025, for the Death of Distribution charge and is being held at the Carteret County Detention Center under a $250,000 secured bond. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
NZ Herald
21-04-2025
- NZ Herald
North Island Saddleback thrive in Bay of Islands, marking 10 years since reintroduction
'Thanks to the continued pest-free status of the islands, tīeke populations have become well-established on both Urupukapuka and Moturua, and visitors walking in the bush on either island are now very likely to be greeted by these charismatic birds and their distinctive calls.' Tīeke are a notable success story of New Zealand conservation. Highly vulnerable to predation by rats and stoats, by the early 1900s, tīeke had been reduced to a single population of a few hundred birds on Taranga / Hen Island off the coast of Bream Bay. Thanks to a series of translocations from the 1960s onwards, there are now 18 island populations, with six more within predator-fenced mainland sanctuaries, and an estimated total population size of more than 7000. The tīeke is one of seven animal species reintroduced to Ipipiri by Project Island Song since 2012, with 13 more identified for future releases. The project is currently running an online raffle to raise funds to keep the islands pest-free and support the return of more taonga species. Prizes are a two-night luxury stay at Eagles Nest in Kororāreka / Russell, a private sunset yacht cruise with Cool Change Charters, and a light pendant designed by David Trubridge. 'Putting these into a raffle provides a great opportunity for people to support our local wildlife, and give themselves the chance to win some fantastic prizes,' Rumsey said.
Yahoo
03-04-2025
- Automotive
- Yahoo
Law enforcement cracking down on distracted driving
SCHUYLER COUNTY, N.Y. (WETM) –Distracted driving is the most common contributing factor in vehicle crashes in New York State. April is distracted driving awareness month and law enforcement is cracking down on distracted driving. According to Schuyler County Sheriff Kevin Rumsey, distracted driving in 2025 has to do more with electronics than anything else. 'An example would be scrolling through Facebook or Instagram or Snapchat any kind of social media while you're driving. That is just completely a distraction to what you should be doing while you are driving a vehicle that could possibly harm or hurt somebody when you're not paying attention,' said Rumsey. Officers and deputies look for a number of things when they try to catch distracted drivers, including a car's speed in traffic. 'Sometimes the deputies will actually see them on an electronic device like their phone or something in their hand as they're driving and they're looking down and you know they start to veer off the road or anything like that,' added Rumsey. Although you may be tempted to do other things while you're driving, Sheriff Rumsey says there are ways to avoid it like putting your devices away where you can't see them. 'It's very easy to set your phone down, turn the ringer off, turn everything off, or completely hook it to your vehicle. I mean, all the vehicles now are very much wired in so you can access them through Bluetooth or whatever however it may be, do everything hands-free.' Increased patrols will be out all over New York State from April 7th through April 14th as part of the statewide distracted driving campaign. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
