Stock Monitor: Colfax Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 06, 2017 / Active-Investors free earnings report on Cummins Inc. (NYSE: CMI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=CMI. Cummins posted its third quarter financial results for fiscal 2017 (Q3 FY17) on October 31, 2017. The leading automotive group's Q3 FY17 revenue numbers beat analysts' estimates and also raised its guidance for the fiscal year. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Colfax Corporation (NYSE: CFX), which also belongs to the Industrial Goods sector as the Company Cummins. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=CFX

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cummins most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=CMI

Earnings Highlights and Summary

Cummins posted revenues of $5.29 billion in Q3 FY17 compared to $4.19 billion in Q3 FY16, increasing by 26.22% y-o-y, due to higher demand in truck, oil and gas, and construction markets in the North American market. The current quarter's revenue numbers topped analysts' estimates of $4.79 billion.

The cost of sales for Cummins were $3.95 billion in Q3 FY17 compared to $3.11 billion in Q3 FY16, increasing by 26.96% y-o-y. The Company's operating income was $629.00 million for the reported quarter compared to $384.00 million in Q3 FY16, surging by 63.80% y-o-y. Cummins' earnings before interest and taxes (EBIT) was $640 million, or 12.1% of sales, an increase from $398 million, or 9.5% of sales in Q3 FY16.

Cummins posted net income of $453.00 million in Q3 FY17 compared to $289.00 million in Q3 FY16, increasing by 56.74% y-o-y. Diluted EPS was $2.71 in the current quarter compared to $1.72 in Q3 FY16, increasing by 57.56% on a y-o-y basis. The current quarter's diluted EPS beat analysts' estimates of $2.47.

Cummins' Segment Details

During Q3 FY17, The Company's sales from the Engine segment was $2.34 billion compared to $1.86 billion in Q3 FY16, increasing by 25.66% y-o-y, driven by an increase in on-highway revenues and escalated demand in global truck and construction market. The segment's EBIT was $229.00 million in the reported quarter compared to $89.00 million, surging 157.30% y-o-y.

For Q3 FY17, Cummins' sales from the Distribution segment was $1.75 billion in Q3 FY17 compared to $1.50 billion in Q3 FY16, increasing by 16.56% on a y-o-y basis, benefitting from divestment in North America's power generation rental assets and Company's acquisitions. EBIT was $91.00 million in Q3 FY17 compared to $96.00 million in Q3 FY16, declining 5.21% y-o-y.

The Company's sales from the Components segment was $1.53 billion in the current quarter compared to $1.14 billion in Q3 FY16, increasing by 34.12% on a y-o-y basis, due to increase in revenue growth in China, India and North American markets. EBIT was $217.00 million in the current quarter compared to $148.00 million in Q3 FY16, increasing by 46.62% y-o-y.

Power Systems segment recorded sales of $1.06 billion in the current quarter compared to $856.00 million in Q3 FY16, increasing by 23.36% on a y-o-y basis, due to increased demand for industrial engines from mining and oil and gas markets. The EBIT was $81.00 million in the current quarter compared to $59.00 million in Q3 FY16, increasing by 37.29% on a y-o-y basis.

Cash Matters

Cummins posted cash and cash equivalents of $1.29 billion as on October 01, 2017, compared to $1.25 billion as on October 02, 2016. The Company had cash inflow from operating activities of $1.47 billion on October 01, 2017, compared to $1.31 billion on October 02, 2016. The Company paid dividends of $522.00 million during the nine months ending October 01, 2017, compared to $505.00 million paid on October 02, 2016.

Outlook

Cummins anticipates revenues for fiscal 2017, to grow 14% to 15%, an increase from the Company's previous projection of 9% to 11% growth and EBIT to be between 11.8% to 12.2% of sales. The Company expects EPS for fiscal 2018 to be 11.62.

Stock Performance Snapshot

December 05, 2017 - At Tuesday's closing bell, Cummins' stock was slightly down 0.07%, ending the trading session at $164.84.

Volume traded for the day: 1.11 million shares.

Stock performance in the last three-month ? up 3.36%; previous six-month period ? up 5.48%; past twelve-month period ? up 15.39%; and year-to-date ? up 20.61%

After yesterday's close, Cummins' market cap was at $27.41 billion.

Price to Earnings (P/E) ratio was at 16.75.

The stock has a dividend yield of 2.62%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors