Revenue Growth - Cummins reported a revenue increase of 15% year-over-year, reaching 24billionforthefiscalyear[10].−TheEngineSegmentgenerated12 billion in sales, accounting for 50% of total revenue, with a 10% growth compared to the previous year[10]. - The Components Segment saw a revenue increase of 20%, totaling 5billion,drivenbystrongdemandintheaftermarket[10].−TheDistributionSegmentreported4 billion in sales, reflecting a 12% increase, attributed to expanded service offerings[10]. - The Power Systems Segment achieved 3billioninrevenue,up181 billion in sales, marking a 25% increase as the company invests in new technologies[10]. - Cummins anticipates a revenue growth of 8-10% for the next fiscal year, driven by strong market demand and new product launches[10]. - Cummins has a backlog of 5billion,indicatingstrongfuturedemandacrossallsegments[10].InvestmentandDevelopment−Thecompanyplanstoinvest500 million in research and development to enhance its product portfolio and sustainability initiatives[10]. - The company is exploring strategic acquisitions to expand its market presence and enhance technological capabilities[10].
Cummins(CMI)2025-02-11 20:57