Cummins (CMI) Issues Updates at Annual Shareholder Meeting: Sees Hitting $30B Sales Goal for 2015
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Price: $587.68 -0.57%
Financial Fact:
Income tax expense: 82M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Income tax expense: 82M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Cummins Inc. (NYSE: CMI) is in a strong position to continue expanding in global markets and meet its long-term growth targets, Cummins Chairman and Chief Executive Officer Tom Linebarger told shareholders at the Company’s annual meeting today.
Linebarger highlighted Cummins’ 2011 results, including record financial performance with sales up 36 percent from 2010 to more than $18 billion, and earnings before interest and tax (EBIT) up 54 percent to $2.56 billion. Cummins’ outstanding 2011 performance and the strong start to 2012 positions the Company to achieve its goal of $30 billion in sales in 2015, he said.
“Our technology leadership in markets around the world enables Cummins to capitalize on the macro trends that are shaping the global economy – stringent emission standards, rising energy prices, globalization and infrastructure growth,” Linebarger said.
“I’m proud to report a strong year in 2011 with record financial performance and I believe our future is even brighter as we capitalize on our current strengths and future opportunities,” said Linebarger said. “However, I am even more proud of the hard work and commitment of the 44,000 Cummins employees who come to work each day not only making a difference here, but having a positive impact on the community as well.”
Linebarger highlighted Cummins’ 2011 results, including record financial performance with sales up 36 percent from 2010 to more than $18 billion, and earnings before interest and tax (EBIT) up 54 percent to $2.56 billion. Cummins’ outstanding 2011 performance and the strong start to 2012 positions the Company to achieve its goal of $30 billion in sales in 2015, he said.
“Our technology leadership in markets around the world enables Cummins to capitalize on the macro trends that are shaping the global economy – stringent emission standards, rising energy prices, globalization and infrastructure growth,” Linebarger said.
“I’m proud to report a strong year in 2011 with record financial performance and I believe our future is even brighter as we capitalize on our current strengths and future opportunities,” said Linebarger said. “However, I am even more proud of the hard work and commitment of the 44,000 Cummins employees who come to work each day not only making a difference here, but having a positive impact on the community as well.”
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