Cummins earnings plummet


Photos:


Tribune photo by Aaron Piper/ Workers with Force Construction Co. work on the first phase of construction for Cummins Inc. on the north side of East Tipton Street on Tuesday. The construction is being carried out on Tipton Street, next to the former Indiana State Police Post on poperty that once housed the Indiana Department of Transportation.


Cummins Inc.’s first-quarter earnings plunged 38 percent compared to a year ago as the company struggled with lower demand in virtually all of its markets across the globe.

Cummins stock took a beating in trading Tuesday, as investors had expected better results. Shares fell 6 percent to close down $6.86 at $106.39.

The Columbus-based engine maker’s quarterly earnings reported Tuesday were $282 million, its third-best first quarter ever but weakest in three years.

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