Cummins’ earnings, revenue fall on weaker demand
Engine maker Cummins Inc. saw profit sink 30 percent in the fourth quarter as demand for its products fell in both domestic and international markets. Full-year profit and revenue also fell.
Cummins Inc.
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Analyst cuts Cummins rating, citing rise in shares
Analyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
Cummins to buy back up to $1B in stock
Cummins Inc. said Tuesday that its board approved the repurchase of up to $1 billion in stock. The Columbus-based engine maker said it has nearly completed its previous $1 billion buyback plan authorized in February 2011.
Indiana manufacturers struggling with fuel economy standards
Automakers and suppliers are pumping more money into research and development at a time many of their sales departments struggle with a slowing global economy.
Cummins posts lower quarterly profit, revenue
The Columbus-based manufacturer of diesel engines reported profit of $352 million, or $1.86 per share, compared with $452 million, or $2.35 per share, in the year-ago period.
Indiana manufacturers see momentum vanish
The state lost an estimated 1,400 manufacturing jobs in September, the U.S. Bureau of Labor Statistics reported, and a wave of layoff announcements in recent weeks suggests steeper declines are coming in the year’s final quarter.
Navistar reaches engine deal with Cummins
Navistar International Corp. said Monday that it reached long-term supply agreements that will allow the company to put Cummins Inc. engines in some of its largest trucks, as well as use its emissions-reducing technology.
Cummins to lay off at least 150 from Indiana plants
Engine maker Cummins Inc. says it will lay off at least 150 workers from its southern Indiana factories as it carries out its plan to cut up to 1,500 jobs worldwide by year's end.
Union: Indiana tech jobs at Cummins expected safe
A union president says no layoffs are planned among the research, technical and support employees at Indiana operations as engine maker Cummins Inc. makes cutbacks.
Union leader expects Cummins cutbacks in Indiana
Diesel Workers Union president Terry Axsom tells The Republic of Columbus that the union's 1,500 workers at southern Indiana factories will be affected but he doesn't know the extent yet.
Cummins shares slide on job cuts, lower forecast
Shares in Cummins Inc. saw their biggest one-day drop in three months Wednesday after the Columbus-based engine maker lowered its forecasts for revenue and profit and said it expects to cut as many as 1,500 jobs by the end of the year.
Cummins to cut as many as 1,500 jobs; Indiana impact unclear
Responding to a sputtering global economy, Columbus-based Cummins Inc. said late Tuesday afternoon that it expects to cut 1,000 to 1,500 jobs by the end of 2012. The diesel engine manufacturer also cut its forecast for full-year revenue to about $17 billion from $18 billion.
Cummins shortens work week at Columbus factory
The engine maker says that slowing demand led to the decision to scale back hours for the 350 workers at its Columbus Fuel Systems Plant. The new four-day workweek will continue indefinitely.
Cummins gets EPA approval for key engine
Cummins Inc. has received the Environmental Protection Agency’s blessing on a redesigned engine that will meet the first-ever set of federal standards for heavy-duty truck emissions.
Cummins starts hiring freeze as sales slow
Engine maker Cummins Inc. says it has instituted a global hiring freeze for at least the rest of this year with an uncertain impact on announced expansions of Indiana operations.
Cummins distributor plans to add 75 jobs in Indianapolis
Indianapolis-based Crosspoint Solutions LLC, a manufacturer of electric auxiliary power units, plans to hire the workers by 2016 as part of a $935,000 expansion.
Cummins cools off, but Seymour expansion still in works
Cummins Inc.—a company that quadrupled its profits in two years—has shifted to cost-cutting mode amid a drop in global sales, but the Columbus-based engine manufacturer says it’s still on track to increase sales from $18 billion in 2011 to $30 billion in 2015.
Cummins tops expectations despite lower profit, sales
Engine manufacturer Cummins Inc. on Tuesday reported lower profit and revenue in the second quarter, but the results exceeded Wall Street expectations.
Indiana city sees many high-skilled immigrants
Companies based in a central Indiana city are hiring a greater percentage of people with visas for high-skilled foreign workers than any place in the U.S. other than California's Silicon Valley, according to a new study.
Largest Indiana public companies mostly fared well in 2011
Performance varied widely as industries ebbed, flowed.