Cummins reports 7 percent first-quarter gain, raises outlook for 2017

COLUMBUS, Ind. — Cummins Inc. reported this morning that its first-quarter revenues for this year reached $4.6 billion, an increase of 7 percent from the same quarter in 2016.

Stronger demand from construction and mining customers and higher sales from a distributor acquisition in the fourth quarter of last year offset the impact of weaker truck production in North America, and international sales improved by 17 percent, the company said in a news release.

“Cummins delivered solid financial results, successfully launched new products and returned $222 million in cash to shareholders in the form of dividends and share repurchases in the first quarter,” said Chairman and CEO Tom Linebarger.

Cummins is forecasting full-year revenues to be up 4 to 7 percent, an improvement from its prior forecast of revenues being flat to down 5 percent.

Please read Wednesday’s edition of The Tribune for more details.