Cummins reported first-quarter revenues of $8.4 billion, a 3% increase compared with the year-before quarter. Net income was $654 million, or 7.8% of sales.
In the engines segment, sales were $2.7 billion, down 4%. EBITDA was $279 million, or 10.4% of sales, compared with $458 million, or 16.5% of sales a year prior.
Sales in the components were $2.5 billion, down 5%.
“Cummins delivered strong results in the first quarter, led by record performance in our power systems segment. Our teams executed with discipline to meet continued strong demand for data center backup power, and North America truck markets began to improve from a cyclical low,” chair and CEO Jennifer Rumsey said in a statement.
Full-year revenues are expected to range from up 8% to 11%, an improvement from prior guidance of up 3% to 8%.
