Cummins posts strong second quarter revenues
Cummins Inc. is continuing its rebound from COVID-19, posting strong second quarter earnings.
Cummins owns the Cummins Inc. Jamestown Engine Plant in Busti.
Corporate second quarter revenues of $6.1 billion increased 59% from the same quarter in 2020, which was the height of the COVID-19 pandemic. Sales in North America increased 74% while international revenues increased 42%, driven by strong demand across all global markets compared to the same quarter in 2020.
“Strong demand across many of our key markets drove continued sales growth in the second quarter, particularly in North America, and resulted in solid profitability,” said Tom Linebarger, Cummins chairman and CEO, in a news release. “The strength of the order board reflects robust underlying demand in many of our markets which is remarkable considering the challenges and uncertainty we faced during this same period last year. I cannot thank our employees and the employees of our supply base enough for their unwavering contributions during these challenging times given the significant supply chain constraints we continue to experience in our industry.”
The engine segment, which includes the Jamestown Engine Plant, posted sales of $2.5 billion, an increase of 75%. On-highway revenues increased 104% driven by strong demand in the North American truck and pickup markets and off-highway revenues increased 10% driven by strong demand in international construction markets.
Sales increased 104% in North America and 26% in international markets.