Third-quarter sales for Cummins Inc. declined across all divisions, especially in China and Brazil, and the company isn’t banking on better results in the fourth quarter as it awaits more economic certainty in the U.S. and abroad.
The Columbus-based engine maker’s financial performance, reported Wednesday, comes amid a global economic slowdown that has hurt Cummins’ sales in trucking, construction and power generation, where it makes engines that go into heavy-duty trucks, generators and mining equipment, among other niches.
“We are experiencing weaker demand in many of our largest markets, and there’s a lot of uncertainty,” Chairman and CEO Tom Linebarger said during an hour-long conference call with Wall Street analysts after the company reported its quarterly earnings fell 22 percent compared to a year ago. “It’s not clear when the environment will improve.”
The company, which employs more than 400 at its Seymour Engine Plant, maintained that its year-end revenues are forecast at $17 billion, down from $18 billion that had been projected in July, but in line with an Oct. 9 news release warning of a weakened financial outlook for the year.
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