Cummins Inc - CMI STOCK NEWS

Accelera, Cummins Inc.'s [NYSE: CMI] zero-emissions segment, has signed an MOU with GAIL, India's leading natural gas company, to advance green hydrogen initiatives in India. The partnership builds on their successful collaboration in Vijaipur, where Accelera's 10-megawatt PEM electrolyzer system produces 4.3 tons of green hydrogen daily for GAIL's operations.

The collaboration aims to explore opportunities in hydrogen production, blending, transportation, and storage, leveraging Accelera's hydrogen technology expertise and GAIL's natural gas infrastructure. The partnership will evaluate projects across transport, power, and steel sectors, supporting India's goal of producing 5 million tons of green hydrogen annually by 2030.

Accelera brings significant experience with over 600 electrolyzer units deployed globally, including notable projects like a 20MW facility in Quebec and a 25MW system in Florida.

Cummins (NYSE:CMI) has unveiled the X10, a new mid-bore heavy-duty engine set to launch in 2027. The X10 will replace both the L9 and X12 engine platforms, offering dual rating configurations: up to 450 horsepower and 1,650 lb-ft torque for heavy-duty applications, and up to 380 horsepower and 1,250 lb-ft torque for medium-duty needs.

The engine features enhanced Power Take-Off capability of 590 lb-ft continuous and 664 lb-ft intermittent, and comes equipped with Cummins' digital technologies through Acumen®. The X10 is part of the Cummins HELM™ platform, allowing customers to choose their preferred fuel type while maintaining performance and reliability.

The engine boasts a class-leading power-to-weight ratio and integrates with transmission options, including Eaton Cummins Joint Venture powertrains. The launch will follow extensive validation and millions of miles of planned on-road testing.

Cummins Inc. (NYSE: CMI) has unveiled its new 2025 6.7-liter Turbo Diesel Pickup engine system for Ram Heavy Duty, extending their partnership with Stellantis through 2030. The advanced engine system will be featured in the 2025 Ram 2500, 3500 Heavy Duty Pickups and Ram 3500, 4500, and 5500 Chassis Cab trucks.

The new engine delivers enhanced performance with High-Output ratings of 430 horsepower and 1,075 lb.-ft. of torque for Pickups, and 360 horsepower and 800 lb.-ft. of torque for Chassis Cab. Key improvements include a brand-new 8-speed transmission, improved acceleration and towing capabilities, reduced noise and vibration, advanced emissions air handling, and enhanced serviceability features including top-side maintenance access and in-cab software updates.

The engine, manufactured in Columbus, Indiana, represents a significant evolution from the first-generation 5.9-liter, 160-horsepower engine to today's more powerful 6.7-liter version.

Cummins Inc. (CMI) announced two key leadership changes effective March 15. Bonnie Fetch, currently VP and President of Distribution Business, has been promoted to Executive VP and President of Operations, succeeding Srikanth Padmanabhan who announced retirement in January. Fetch, who joined Cummins in 2018 after 20 years at Caterpillar, will oversee New and Recon Parts business and global operating functions.

Shon Wright, currently VP of Cummins Components and Software, has been appointed VP and President of Distribution Business. Wright, with 22 years at Cummins, will focus on sales and service support, employee development, and operational performance. Both appointments reflect the company's commitment to advancing its Destination Zero strategy and delivering customer-focused solutions.

The Board of Directors of Cummins (NYSE: CMI) has declared a quarterly cash dividend of $1.82 per share. The dividend will be paid on March 6, 2025, to shareholders who are on record as of February 21, 2025.

Cummins Inc. (NYSE: CMI) has announced the acquisition of First Mode's assets, a leader in retrofit hybrid solutions for mining and rail operations. The acquisition encompasses hybrid mining and rail product lines, along with the complete IP portfolio including hydrogen and battery powertrain solutions.

The deal includes First Mode's commercial portfolio, manufacturing and technical teams across Australia, United States, and Chile. The technology represents the first commercially available retrofit hybrid system for mining equipment, promising reduced total cost of ownership while advancing decarbonization efforts.

First Mode will continue serving customers through the transition, with product shipments expected in Q1. The acquired operations will be integrated into Cummins' Power Systems industrial segment, strengthening the company's position in providing decarbonization solutions for the mining industry through product hybridization and clean fuels such as ethanol and methanol.

Accelera, Cummins Inc.'s [NYSE: CMI] zero-emissions segment, will provide a 100-megawatt (MW) PEM electrolyzer system for bp's Lingen green hydrogen project in Germany. The system, bp's largest hydrogen production facility to date, will comprise 20 PEM HyLYZER®-1000 electrolyzer units manufactured at Accelera's new plant in Guadalajara, Spain.

Set to be fully commissioned in 2027, the facility will produce up to 11,000 tons of green hydrogen annually. The system will be powered by renewable electricity from offshore wind, supporting bp's Lingen refinery and regional industrial customers, including steel and chemical producers. This project represents a significant advancement in Germany's hydrogen economy development.

Accelera has deployed over 600 electrolyzer units globally, including notable projects such as a 20 MW facility in Quebec, Canada, and a 25 MW system in Florida, U.S.

Cummins (NYSE: CMI) reported fourth quarter 2024 revenues of $8.4 billion, down 1% year-over-year, with North American sales flat and international revenues decreasing 3%. Q4 net income was $418 million, or $3.02 per diluted share, including $312 million in Accelera reorganization charges.

Full-year 2024 revenues remained flat at $34.1 billion, with North America sales up 1% and international revenues down 1%. Net income reached $3.9 billion, or $28.37 per diluted share, including a $1.3 billion gain from Atmus separation. EBITDA margin improved to 18.6% from 8.9% in 2023.

For 2025, Cummins projects revenue between -2% and +3%, with EBITDA expected between 16.2% and 17.2% of sales. The company anticipates weaker North America on-highway truck markets in H1 2025, offset by strength in other key markets.

Cummins (NYSE: CMI) and Liberty Energy (NYSE: LBRT) announced plans to deploy the industry's first natural gas variable speed, large displacement engine for Liberty's digiPrime hydraulic fracturing platform in the first half of 2025. The system features Cummins' HSK78G engine, a 3,000 horsepower natural gas variable speed engine offering direct drive solution with superior thermal efficiency.

The technology promises significant advantages including reduced fuel costs, lower emissions, and extended maintenance intervals - estimated at four times longer than standard diesel engines. The engine demonstrates high tolerance to methane content fluctuations and can operate across various gas compositions, providing flexibility in fuel sourcing. The system is designed to be EPA Mobile Off highway and CSA compliant, while maintaining compatibility with multiple well-servicing transmissions.