Cummins Inc Stock Price, News & Analysis

Cummins-Meritor has announced the return of its in-person aftermarket parts training sessions for 2024. These sessions focus on heavy-duty commercial vehicle brakes, covering both cam and air disc brake systems. Scheduled from June through November, events will take place in 14 U.S. cities including Atlanta, Philadelphia, and Seattle. Each training is a 4-hour session available in both morning and afternoon slots, aiming to minimize operational disruption for technicians. Topics include brake adjustment, brake balance, RSD, and diagnostic procedures. These in-person sessions complement their online portal, BullPen, which provides 24/7 access to training modules. Registration is mandatory due to capacity.

Tony Satterthwaite, Senior Vice President at Cummins (NYSE: CMI), will retire in September 2024 after a 36-year career. Satterthwaite's tenure included significant growth and innovation, particularly in the Power Generation Business. He led several successful product launches and expanded the company's reach internationally. Jennifer Rumsey, CEO, praised his leadership, especially during the COVID-19 pandemic. Satterthwaite also focused on investing in people, building strong leaders within the company. His departure marks the end of an era, having held critical sales, regional, and business leadership roles, and serving on various boards.

Accelera by Cummins, a zero-emissions business segment, unveiled new hydrogen fuel cell engines, high-efficiency eAxle, and next-gen batteries at the ACT Expo on May 20 in Las Vegas. The new FCE300 and FCE150 fuel cell engines offer increased power density, improved efficiency, and advanced durability. The 14Xe eAxle provides increased energy efficiency and is designed for heavy-duty and medium-duty applications. Accelera's BP104E battery platform promises superior performance and fast charging capabilities, with production planned for 2027. These innovations support the transition to zero emissions in commercial transportation.

Andrew McDougall has been named the 2024 Louis Schwitzer Award winner for his Xtrac Electric Servo Actuator (ESA) at the Indianapolis Motor Speedway. His innovative gear change system for sequential shift transmissions boasts benefits like faster shifts, reduced weight, and enhanced efficiency. Cummins (NYSE: CMI) and Valvoline Global Operations, sponsors of the award, also presented McDougall with a $10,000 prize. The Louis Schwitzer Award, a prestigious accolade in the automotive engineering industry, recognizes groundbreaking innovations that push the boundaries of automotive technology.

Cummins announced it is raising its long-term financial targets due to a robust portfolio and effective strategy execution. The company is positioned to meet customer needs, reduce greenhouse gas emissions, and grow regardless of the transition pace to zero emissions. Cummins aims to enhance its base business while scaling Accelera for profitable growth and increased operating cash flow.

During a recent meeting, Cummins' leadership highlighted the company's strengthened position and plans for higher shareholder returns. Key factors include innovative technologies, strong customer partnerships, financial strength, and a skilled workforce.

Key growth opportunities were outlined in the Power Systems and Accelera businesses, with targeted profitability and revenue growth through 2030. The company plans to drive margin expansion and capital allocation to strengthen its market leadership and return excess cash to shareholders.

The Board of Directors of Cummins declared a quarterly common stock cash dividend of $1.68 per share.

The dividend is payable on June 6, 2024, to shareholders of record as of May 24, 2024.

This regular quarterly dividend announcement underscores the company's commitment to returning value to its shareholders.

Accelera by Cummins and Isuzu Commercial Truck of America announced a collaboration on a battery electric powertrain for Isuzu's F-series truck, targeting the North American market by 2026. This partnership leverages Accelera's next-gen lithium iron phosphate (LFP) battery technology for zero-emissions solutions. The initiative aligns with Isuzu's Environmental Vision 2050, aiming to reduce greenhouse emissions. This collaboration stems from the Isuzu Cummins Powertrain Partnership established in 2019, focusing on innovation and global growth in the zero-emissions sector.

Accelera by Cummins, a zero-emissions segment of Cummins, announced plans to launch a battery-electric powertrain for Isuzu’s F-series trucks in North America. The medium-duty trucks, featuring Accelera's next-gen lithium iron phosphate (LFP) battery technology, are expected to be available in 2026. This initiative aligns with Isuzu's 'Transformation - Growth to 2030' plan, aiming to reduce greenhouse emissions and offer versatile solutions to customers. The collaboration, stemming from the Isuzu Cummins Powertrain Partnership formed in 2019, will leverage both companies' strengths to further innovation and global growth.

Cummins Inc. and Isuzu Motors have introduced a new 6.7-liter engine, the Isuzu DB6A, for the Japanese, Southeast Asia, and global markets. As part of their partnership, the engine will power Isuzu's medium-duty truck lineup, marking Cummins' entry into the Japanese on-highway market. The engine will be assembled in Japan and signifies a significant milestone in the collaboration between the two companies.