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Cummins delivered a mixed set of results for the quarter, surpassing the revenue expectations of Wall Street but missing out on earnings. Among some major events in the quarter, one was the completion of the acquisition of Meritor, the leading global supplier of mobility, braking, drivetrain, electric powertrain, and aftermarket solutions for industrial and commercial markets. Also, through its subsidiary Meritor, Cummins announced the completion of its acquisition of the commercial vehicles bus
Companies: Cummins (CMI:NYSE)Cummins Inc. (CMI:NYS)
Baptista Research
Cummins delivered a third consecutive all-around beat in a quarter that was marked by a number of significant developments including many ke partnerships. The company announced partnerships with Daimler Truck, Scania, and North America for delivering fuel cell electric powertrains for heavy-duty truck applications, with Komatsu on developing haulage equipment zero-emission which includes hydrogen fuel cell solutions for the large mining haul truck applications. It also achieved a significant mil
Cummins continued its steady, mid-single-digit growth trajectory since the start of 2022 and reported a revenue of $6.4 billion, up 5% from the previous year. Due to a sharp slowdown in China, the company’s international revenues fell by 3% but sales in North America increased by 12%. The company’s international top-line was negatively impacted by 2% due to unfavourable currency movements. The company has gone on to highlight their new advanced range of fuel-agnostic combustion engines, which ha
Companies: Cummins Inc. (CMI:NYS)Cummins Inc. (0I58:LON)
Cummins had a good top-line performance in 2021, as a result of the economic recovery and a high demand for its products. The management has also taken several steps to improve their margins in 2022 including cost optimization and improved efficiency in operations. They also expect to see significant incremental growth from increased pricing and surcharges and cost-cutting initiatives in their supply chain and operations. Moreover, Cummins continues to gain traction in the New Power market by fo
Cummins reported a decent level of full-year revenues in 2021, thanks to a robust economic recovery and high demand for its products. The management has also taken several steps to improve their margins in 2022 including cost optimization and improved efficiency in operations. They also expect to see significant incremental growth from increased pricing and surcharges and cost-cutting initiatives in their supply chain and operations. Moreover, Cummins continues to gain traction in the New Power
Cummins reported a decent result and showed a 16.6% growth in quarterly revenues on a year-on-year basis which was largely driven by a strong consumption of engines. Its core Engine segment saw a staggering 22% jump in revenues driven by a combination of North American truck demand as well as off-highway revenues resulting from construction demand in North America, Asia-Pacific, and Europe. Its new new 15-liter natural gas engine for heavy-duty trucks for customers looking to reduce greenhouse g
Cummins reported another all-around beat as the company’s revenues grew significantly after a 272% increase in engine shipments to Stellantis as compared to 2020. The companys Power Generation revenues also grew by a staggering 48% as a result of a high demand in recreational vehicle, standby power and data center markets as well as the Chinese market. Cummins is making strides in its hydrogen fuel cells and electrolyzers business and the company has deployed more than 2,000 fuel cells and 600 e
Research Tree provides access to ongoing research coverage, media content and regulatory news on Cummins Inc.. We currently have 0 research reports from 3 professional analysts.
Supreme’s FY24 trading update confirms a record performance in the 12 months to 31 March 2024. Organic revenue and profit growth across all four divisions has driven Group revenue +45% YOY to £225m, with FY24 adj. EBITDA almost doubling to ‘at least £38m’, driving record levels of cash generation. Supreme is actively exploring complementary M&A, supported by a debt free balance sheet. Trading on an undemanding FY25 PE of just 6.7x, with a 3.4% yield, we believe downside risks are more than price
Companies: Supreme PLC
Zeus Capital
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Companies: MPE TRI VNET BVXP HVO
Shore Capital
Vianet has published a positive trading update for FY24 with turnover up 7.6% to £15.18m, a 3.5 percentage point increase in gross margin YoY, and adjusted EBITA ahead of market expectations. Net debt continues to fall and closed FY24 at £1.52m (£2.1m at 30 September 2023), demonstrating strong free cash flow generation, even without the benefit of the £0.9m tax receipt received in 1H24, which augers well for a final dividend. The company reported a new contract with Wilcomatic Wash Systems, the
Companies: Vianet Group plc
Capital Access Group
Companies: Mpac Group PLC
Renewi’s FY24 trading update was in line with management’s expectations and its improved cash generation is reassuring for investors. Attention is now likely to turn the strategic review of the UK Municipals with management stating that they remain on track to update markets by the end of June. This could lead to an exit of key liabilities and leave Renewi as an attractive circular economy investment with strong market positions and organic growth plans, which should assist in generating value,
Companies: Renewi Plc
Edison
Vianet’s FY24 trading update shows FY24 revenue +1% ahead of our previous forecast, adjusted EBITA +2% ahead, EFCF and net debt +£0.6m ahead, and a strategic new customer win with prominent forecourt operator Wilcomatic. A robust FY25 pipeline and outlook leads us to reiterate our FY25E forecasts at this point, with the update highlighting: strong progress renewing and winning new customers on 3-5 year contracts as they migrate from 3G to Vianet’s advanced 4G LTE solutions; the successful integr
Norcros has announced the sale of its Johnson Tiles UK business to the current management team for a consideration of £1.0m, with a further modest earnout based on the equity value of the business, both payable in April 2028.
Companies: Norcros plc
Companies: James Latham Plc
SP Angel
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Norcros’s disposal of Johnson Tiles is the latest strategic activity taken by management to better allocate capital to fit with priorities. Last year it closed its UK adhesives operation. Norcros has a compelling investment case, where its new product development initiatives, market positioning and self-help initiatives allow it to take market share in both the UK and South Africa. Its rating is low at 6.0x FY24e P/E, which is attractive, especially when compared to its yield of 5.4% on its well
Companies: GAL BEM AAU SHG GGP AAL SLI 1SN EEE TECK
ITM has announced a new preferred supplier agreement with Hygen, potentially driving new orders for 200MW of electrolysers for the company going forward.
Companies: ITM Power PLC
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
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