Cummins Inc Stock Price, News & Analysis

Cummins Inc. (NYSE: CMI) has announced the launch of new software features designed to integrate its powertrains with Automated Driving System (ADS) technologies. The company is currently testing over 100 vehicles in collaboration with ADS technology firms, aiming to lead the global ADS market. Cummins emphasizes its commitment to advancing autonomous vehicle solutions across various powertrains, including diesel, natural gas, hybrid, and electric. This initiative is backed by Cummins' century-long expertise in power solutions, enhancing its position within the heavy-duty trucking sector.

Cummins Inc. (NYSE: CMI) has launched the new SD 20 diesel generator set, specifically designed for commercial mobile applications like disaster relief and food trucks. This generator measures over 28" high, 26" wide, and 58" long, providing 20kW standby power at 60Hz. It features a Kubota Tier 4 engine and complies with several industry standards. Full production shipping begins this month, expanding Cummins' existing generator portfolio. The SD 20 aims to deliver reliability and serviceability, reflecting Cummins' commitment to quality over its 100-year legacy.

Daimler Truck AG and Cummins Inc. (NYSE: CMI) have signed a framework agreement for a strategic partnership in medium-duty engines. Cummins will invest in developing a medium-duty engine platform, ceasing Daimler's own investment for Euro VII emissions compliance. Cummins will establish a local production facility in Mannheim, Germany, expected to start in the second half of the decade, ensuring job maintenance in the region. Both companies aim to improve competitiveness and explore further cooperation opportunities.

Cummins reported a 59% revenue increase to $6.1 billion in Q2 2021, with strong demand in North America (up 74%) and internationally (up 42%). Net income rose to $600 million ($4.10 per share). EBITDA for the quarter was $974 million (15.9% of sales), up from $549 million (14.3% of sales) year-over-year. The company is exploring strategic alternatives for its Filtration business. Cummins maintains a full-year revenue guidance increase of 20-24% and plans to return 75% of operating cash flow to shareholders through dividends and buybacks.

Air Products and Cummins Inc. have signed a memorandum of understanding to accelerate hydrogen fuel cell truck integration across the Americas, Europe, and Asia. Air Products plans to convert its fleet of approximately 2,000 trucks to zero-emission hydrogen fuel cell vehicles, starting with a demonstration phase set for 2022. This transition underscores Air Products' commitment to sustainability, aiming to lead the hydrogen adoption for heavy-duty applications. Both companies will work on enhancing hydrogen accessibility and infrastructure to support this initiative.

Chevron and Cummins (NYSE: CMI) have signed a memorandum of understanding (MOU) to explore a strategic alliance in the hydrogen and alternative energy sectors. The collaboration aims to promote hydrogen as a decarbonizing solution for transport and industry, develop market demand for hydrogen-powered vehicles, create necessary infrastructure, and utilize Cummins’ technologies at Chevron’s refineries. Both companies emphasize their commitment to advancing lower-carbon solutions.