Cummins Q2 Conference Call Highlights

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Cummins
CMI
reported its second quarter earnings on Monday. Shares of the company are down 3.44 percent. Below are some key highlights and takeaways from its conference call: • Revenues for the second quarter were $4.8 billion, an increase of 7% compared to the second quarter of 2013. • As a result, our full-year guidance for the engine business is unchanged, with revenues expected to grow between 6% and 8% and EBIT to be in the range of 10.5% million to 11.5% of sales. • Revenues in the power generation business declined by 9%. • EBIT of 8.2% declined from 9.3% a year ago due primarily to lower volumes. • Revenues in the distribution segment increased 30% in the second quarter, due primarily to acquisitions in North America. • We expect to deliver incremental revenues of $500 million from acquisition this year for the company, up $100 million from our last forecast. • And we expect the acquisitions to increase the company's earnings per share by approximately $0.30, higher than our previous forecast of between $0.20 and $0.25. • Our revenues in North America grew 14% in the second quarter due to strong demand in on-highway markets. • Shipments to the North American heavy-duty truck market exceeded 23,000 units in the second quarter, an increase of 11% from 2013 level. • Our market share has improved to 73% for the first half of 2014
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Posted In: EarningsNewsGuidance
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