Cummins, a US-based global power solutions provider registered its highest ever revenue of $23.8 (Rs 170,080 crore)billion in 2018. It is said to be 16 percent higher than what it recorded in 2017. In the fourth quarter of CY 2018, its revenue increased 12 percent to $6.1 billion (Rs 43,592 crore).
For the full year, revenues in North America increased 19 percent and international sales grew 12 percent with growth registered in all major regions. In Q4 CY2018, sales in North America increased by 17 percent while international revenues increased by 6 percent. Cummins claims that the increase in North American sales is attributed to increased truck production and stronger demand in global construction and power generation markets.
In Q4 CY2018, Cummins earned $2.7 billion (Rs 19,294 crore) through its engine sales, up 18 percent over Q4 CY2017. Similarly, it earned $1.8 billion (Rs 12,863 crore) through the sale of its proprietary components which is an increase of 14 percent as compared to Q4 CY2017.
Tom Linebarger, chairman and CEO, said, “2019 is a historic year for Cummins as we celebrate the 100th anniversary of our company, and project another record year of financial results. Our financial strength allows us to continue investing and innovating across our broad portfolio of power solutions to remain a global technology leader for the next 100 years while continuing to return significant capital to investors.”
For 2019, Cummins projects its revenues to be flat to up to 4 percent.