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Last updated on Thursday, February 8, 2018
(COLUMBUS) - Cummins Inc. reported increased revenue for the fourth-quarter of 2017 over the same quarter in 2016. In fact, company officials say that 2017 full-year revenue was up over 2016.
Company officials say that fourth quarter revenues of $5.5 billion were 22 percent higher than the fourth quarter of 2016. Cummins adds that revenue for all of 2017 was $20.4 billion, an increase on approximately 17 percent over 2016 figures. Company officials say that strong demand for for trucks, construction and mining equipment drove the majority of the revenue increase, adding that sales in both the North American and international markets were each up 22 percent.
"The Company delivered strong growth, solid profitability and record operating cash flow in 2017," said Chairman and CEO Tom Linebarger. "We expect demand to remain strong in many of our core markets in 2018 and profitability to improve as a result of higher sales and continued execution of our cost reduction initiatives. The Company again plans to return at least 50 percent of Operating Cash Flow to shareholders in 2018."
Based on the current forecast, Cummins says that it expects full year 2018 revenues to be up four to eight-percent.
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