— Cummins Inc. (NYSE: CMI) reported its fourth-quarter 2019 adjusted earnings of $2.56 per share versus $2.42 per share expected.
— Revenue fell by 9% to $5.6 billion versus $5.3 billion expected. This was hurt by lower truck production in North America and weaker demand in global construction, mining, and power generation markets.
— Sales in North America declined by 8% while international revenues decreased by 10% led by declines in Europe, Asia Pacific, Latin America, and India.
— Looking ahead into the full year 2020, the company expects revenues to be down 8-12% and EBITDA to be in the range of 14.2-15.2% of sales. The consensus estimates revenue to fall by 8.10% for the full year.
— In 2020, the company plans to return 75% of Operating Cash Flow to shareholders in the form of dividends and share repurchases.
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 1% on Monday. The stock has dropped 29% year-to-date. The food company is set to report its fourth quarter 2023 earnings
The Kroger Co. (NYSE: KR), a leading grocery retailer that operates both in-store and online, will be reporting earnings this week. The company, which is preparing to acquire rival retailer
Salesforce, Inc. (NYSE: CRM) achieved accelerated sales growth and profitability in recent quarters, in line with its transformation goal. The customer relationship management platform bets on new opportunities in generative