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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowEngine manufacturer Cummins Inc. on Tuesday reported lower profit and revenue in the second quarter, but the results topped Wall Street expectations.
Columbus-based Cummins said earnings in the second quarter were $469 million, or $2.47 per share, compared with $505 million, or $2.60 per share, in the same period a year ago.
Excluding gains from divestitures, Cummins earned $2.45 per share, topping the average analyst forecast of $2.28, according to Thomson Reuters.
Second quarter revenue of $4.45 billion was down 4 percent from the same quarter of 2011.
The company said growth in North America offset weakness in international markets, particularly China and Brazil.
Sales fell 2 percent in the company’s engine segment, to $2.8 billion, and were flat in the components and power-generation segments. Sales in the distribution segment rose 1 percent, to $794 million.
Cummins shares were up 6.3 percent, to $96.15, in early trading.
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