Cummins beats sales expectations and provides upbeat outlook, and stock gains

Shares of Cummins Inc. CMI tacked on 0.4% in premarket trading Monday, after the engines and powertrains maker reported fourth-quarter sales that rose above expectations and provided an upbeat outlook. Net income jumped to $631 million, or $4.43 a share, from $394 million, or $2.73 a share, in the year-ago period. Excluding the Meritor business, which was acquired in August 2022, earnings per share came to $4.52.

4% in premarket trading Monday, after the engines and powertrains maker reported fourth-quarter sales that rose above expectations and provided an upbeat outlook. Net income jumped to $631 million, or $4.43 a share, from $394 million, or $2.73 a share, in the year-ago period. Excluding the Meritor business, which was acquired in August 2022, earnings per share came to $4.52. The results also included 11 cents per share in costs related to the separation of the filtration business.

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