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4-Traders Homepage  >  Equities  >  Nyse  >  Cummins Inc.    CMI

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Cummins Inc. : Does Not Use Defeat Devices and Is Committed to Meeting Emissions Standards

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01/12/2017 | 06:29pm CET

Cummins Does Not Supply Engines for the FCA Products in Question

Cummins Inc. (NYSE: CMI) today stated that it does not supply engines for the FCA vehicles that are discussed in the Environmental Protection Agency’s Notice of Violation issued today, nor was Cummins named.

Cummins does not use defeat devices and is committed to meeting emissions standards. Cummins has a long history of working transparently and collaboratively with regulators to develop and meet emissions requirements.

About Cummins

Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins currently employs approximately 55,200 people worldwide and serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and approximately 7,200 dealer locations. Cummins earned $1.4 billion on sales of $19.1 billion in 2015. Press releases can be found on the Web at www.cummins.com. Follow Cummins on Twitter at www.twittter.com/cummins and on YouTube at www.youtube.com/cumminsinc.

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward looking statements include, without limitation, statements relating to our plans and expectations for our revenues for the full year of 2016. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: the adoption and implementation of global emission standards; the price and availability of energy; the pace of infrastructure development; increasing global competition among our customers; general economic, business and financing conditions; governmental action; changes in our customers’ business strategies; competitor pricing activity; expense volatility; labor relations; and other risks detailed from time to time in our Securities and Exchange Commission filings, including particularly in the Risk Factors section of our 2015 Annual Report on Form 10-K. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.


© Business Wire 2017
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Financials ($)
Sales 2016 17 330 M
EBIT 2016 1 914 M
Net income 2016 1 358 M
Debt 2016 625 M
Yield 2016 2,85%
P/E ratio 2016 17,45
P/E ratio 2017 17,79
EV / Sales 2016 1,40x
EV / Sales 2017 1,44x
Capitalization 23 555 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 138 $
Spread / Average Target -1,3%
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Managers
NameTitle
Norman Thomas Linebarger Chairman & Chief Executive Officer
Richard Joseph Freeland President & Chief Operating Officer
Patrick Joseph Ward Chief Financial Officer & Vice President
Sherry A. Aaholm Chief Information Officer & Vice President
Jennifer W. Rumsey Chief Technical Officer & Vice President
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