Cummins posts record profits, revenue in 2011
February 2, 2012
Filed under News
COLUMBUS, Ind. – Cummins announced record profits and revenue in 2011, reporting this week that it increased revenue by 19 percent in the fourth quarter of 2011, bringing in $4.9 billion.
The company’s earnings before interest and taxes in the fourth quarter were up 25 percent year-over-year, coming in at $768 million in Q4 2011.
“Cummins had its best year ever in 2011, despite economic uncertainty in a number of regions. We continue to benefit from our leading position in a number of end markets and geographies,” Tom Linebarger, chairman and CEO, said in a statement. “Revenue in the United States grew 53 percent and international revenue grew 27 percent year-over-year. In fact, we experienced record full year revenues in North America, Brazil, China, India and a number of other important markets.”
The company is expecting growth to continue in 2011, saying in a release that it expects 10 percent revenue growth in 2012.
“Our 2011 results and our forecast for 2012 reaffirms our confidence in reaching our goal of achieving $30 billion in sales and 18 percent EBIT in 2015,” Linebarger added.
