First quarter revenue of $4.7 billion increased 7 percent from the same quarter in 2014. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Currency negatively impacted revenues by 3 percent compared to last year, primarily due to a stronger US dollar.
Revenues in North America increased 17 percent while international sales declined by 6 percent. Within international markets, lower revenues in Europe and Brazil more than offset growth in China.
Earnings before interest and taxes (EBIT) increased to $562 million for the first quarter or 11.9 percent of sales, up from $528 million or 12.0 percent of sales a year ago.
Other recent highlights:
- For the eighth consecutive year, Cummins was named one of the world’s most ethical companies by The Ethisphere Institute
- Forbes magazine named Cummins 21st in its Top 25 Employers in America list
- Cummins was selected by Halliburton as the engine supplier for the first EPA Tier 4 Final-compliant fracking spread inNorth America
- The Company repurchased one million shares in the first quarter
Read the full press release – including first quarter 2015 detail for all Cummins business units – by clicking on the link below.
Press Release – Cummins Announces First Quarter 2015 Results