Cummins Inc. of the United States announced its first quarter financial report a few days ago. The company’s operating income and net profit suffered declines, and revenues in its business units also fell to varying degrees.
Cummins suffered a decline in demand in all regional markets in the world in the first quarter. Its overall operating income was US$3.9 billion, which was a 12% decrease from the same period in 2012, of which revenue in the North American market fell by 15% year-on-year, and overseas market revenues. It also fell 10%.
Cummins Chairman and Chief Executive Officer Tom Linebarger said: “As we expected, we experienced weak demand in all major markets in the first quarter. There are still uncertainties in many markets. We expect the company’s revenue to be in The first quarter has reached its 2013 low."
Among all business units, the Engine Division became the most severely downgraded Cummins revenue, with revenues plunging 19% year-on-year to US$2.3 billion; revenue from the Components Division decreased 7% year-on-year to US$1 billion; The revenue ratio of the division fell by 4% to US$750 million; the distribution division decreased by 11% year-on-year to US$780 million.
In the first quarter of 2013, Cummins’ net profit was US$282 million, a 38% drop from the US$451 million in the same period in 2012. Diluted earnings per share decreased from US$2.38 in the same period in 2012 to US$1.49.
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