— 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.
Most Popular
What to look for when Hormel Foods (HRL) reports Q4 2023 earnings
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
Kroger set to report Q3 results. Here’s everything you need to know
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
Earnings Preview: Salesforce will likely deliver another strong quarter
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
