Cummins Inc. (CMI) has reported an increase in profits for its second quarter, outperforming analysts' expectations.
The company's net income reached $726 million, or $5.26 per share, up from $720 million, or $5.05 per share, in the same period last year.
On average, analysts had projected earnings of $4.81 per share, according to data from Thomson Reuters. Note that these estimates typically exclude special items.
Revenue for the quarter saw a 1.8% increase, rising to $8.796 billion from $8.638 billion the previous year.
Key financial highlights (GAAP) for Cummins Inc. in the second quarter include:
- Net Income (Q2): $726 million, compared to $720 million last year.
- Earnings Per Share (EPS, Q2): $5.26, up from $5.05 last year.
- Revenue (Q2): $8.796 billion, an increase from $8.638 billion last year.
