Welcome to our dedicated page for Cummins news (Ticker: CMI), a resource for investors and traders seeking the latest updates and insights on Cummins stock.
Cummins Inc. reports news on its global power technology business, including engines, components, distribution, power systems and Accelera by Cummins. Company updates commonly cover diesel, electric and hybrid powertrains, integrated power generation systems, aftertreatment, turbochargers, fuel systems, controls, transmissions, axles, brakes, battery and electric powertrain systems, and other zero-emissions technologies.
Recurring developments include quarterly operating results, segment performance, demand trends in truck markets and data center backup power, customer technology demonstrations, powertrain collaborations, emissions recall activity, dividend declarations and portfolio actions within Accelera.
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 natural gas engine, which will power a 3,000 horsepower direct drive solution.
The engine offers improved response time, load acceptance, and outstanding thermal efficiency, leading to reduced fuel costs and lower emissions. Key benefits include a maintenance interval four times longer than standard diesel engines and high tolerance to methane content fluctuations. The system is EPA Mobile Off highway and CSA compliant, maintaining reliability while reducing carbon footprint.
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.
Cummins Inc. (NYSE: CMI) has unveiled its next-generation 6.7-liter Turbo Diesel engine system for the 2025 Ram Heavy Duty trucks, extending their partnership with Stellantis through 2030. 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.
The 2025 model features significant improvements including a brand-new 8-speed transmission, advanced emissions air handling, new high-pressure fuel delivery system, and improved serviceability. Notable enhancements include faster acceleration, better towing capabilities, reduced noise and vibration, and improved cold-start management with advanced glow plug technology. The engine will be offered in the 2025 Ram 2500, 3500 Heavy Duty Pickups and Ram 3500, 4500, and 5500 Chassis Cab trucks.
Cummins has detailed the evolution and key differences between turbochargers for natural gas and diesel engines. Natural gas turbochargers have undergone significant changes over the past decade, driven by emissions regulations and the adoption of stoichiometric burning. Modern natural gas turbochargers feature distinct components including dual wastegate ports, larger actuators (T4 vs T2), and specialized housing materials to handle higher temperatures exceeding 760°C.
Unlike diesel engines that operate with a lean burn, natural gas engines require a precise 1:1 air-to-fuel ratio, resulting in smaller turbochargers. The shift to stoichiometric burning has reduced the need for complex aftertreatment systems, lowering overall engine and turbo costs while meeting strict emissions standards.
Cummins Inc. highlights the success story of Aidan, a Level Two Engine Field Service Technician who graduated from their Technician Apprentice Program (TAP). After joining in July 2019, Aidan completed his Associate of Applied Science in Diesel Systems Technology as valedictorian and now specializes in Accelera products and zero-emission technologies. His role involves diagnostics, repairs, and customer service, contributing to Cummins' transition toward sustainable transportation solutions. The company emphasizes its commitment to developing cleaner technologies through its comprehensive portfolio of power solutions, including internal combustion, electric, and hybrid integrated systems.