Share “Cummins 1Q profit up 43 pct., North...”

Cummins 1Q profit up 43 pct., North America strong

Associated Press Published: May 1, 2012

COLUMBUS, Ind. (AP) — Cummins Inc. says its first-quarter profit jumped 43 percent from the same quarter last year.

The Columbus engine maker earned $455 million, or $2.38 per share. That compares to a profit of $343 million, of $1.75 per share, in the first quarter of 2011. The company says it was helped by higher demand from truck, power generation and construction markets in North America.

Engine sales rose 20 percent during the quarter and overall sales were up 16 percent, to almost $4.5 billion.

The results beat Wall Street predictions.

Cummins shares fell nearly 3 percent in morning trading.