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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.
The FY24 year-end update is very upbeat signalling trading being materially ahead of expectations, with a better-than-expected profit out turn and stronger cash generation. It continues to strengthen margins through efficiencies and investment in modern equipment. The order book remains close to record levels providing a robust view of future forecasts. In FY24E we upgrade EPS by 11% and in FY25E a significant upgrade of 27.6%. It looks capable of declaring a dividend in FY25 as well as manageme
Companies: Renold plc
Cavendish
Companies: BILN ELCO NXQ CUSN ATG
FY23 results show very strong growth over FY22, driven by strong Structural Steel activity, with results slightly ahead of upgraded profit expectations, while stronger than expected cash flow resulted in an unexpectedly generous dividend of 33p (offering a FY23 yield of 7.0%). The group now has net cash of £22.1m and is debt free and is therefore in a strong position for potential M&A activity. Following the recent £90m of new orders to increase the order book to record levels we conservatively
Companies: Billington Holdings Plc
Another Good Year of Diversified Growth with More to Come in 2024 CCapital have released their Q1 operating results. Overall, revenue has come in slightly lower than expected at $80.2m vs TamE of $85.9m but is largely tracking in line with our FY24 annual estimate and we note the company has maintained guidance. Drilling revenue for this quarter was impacted by a fall in utilisaztion rates as well as general remobilisation geographically but we expect a strong recovery throughout the year as k
Companies: Capital Limited
Tamesis Partners
Plant Health Care announced it has signed a distribution agreement with AMVAC, an American Vanguard Company, to support commercialisation of novel fertiliser products incorporating Plant Health Care's Harpinαβ in China starting in 2024. The novel product combines Harpinαβ technology with an AMVAC fertiliser and is expected to help growers improve crop quality and yield as part of an integrated and environmentally responsible crop production programme. AMVAC continues to evaluate Plant Health Car
Companies: Plant Health Care PLC
Companies: 88E RNO TRIN KRM EXR BOOM
Severfield’s trading update indicates that FY23 results are expected to slightly exceed market expectations and the company ends the year with a record UK and Europe order book. Furthermore, with a positive trading outlook and net debt coming in lower than expected, Severfield has announced a £10m share buyback, highlighting the cash-generative nature of the company and management’s confidence in its position. The stock trades on an FY25 P/E of less than 6x and yields 7%, which we believe appear
Companies: Severfield Plc
Edison
discoverIE’s March year-end update confirms a strong operational performance in challenging markets. Following two years when sales increased by +48%, FY 2024 Group sales were +1% ahead of 2023 at CER (reported -3%) driven by a +2% contribution from acquisitions and organic -1%. As expected, organic growth returned in the later part of the year (Q4 +2%, +11% sequentially) and the order book has reverted to normalised levels of c.4.5 months’ sales, which – combined with a continuing strong pipeli
Companies: discoverIE Group PLC
Companies: Iofina plc
Canaccord Genuity
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
Acquisitions have been an important element of Severfield management’s growth strategy, with the aim of adding new products, sectors and regions to what we have identified as exciting long-term organic opportunities. In this Spotlight report, we focus on the group’s targeted M&A approach, highlighting three significant deals.
Progressive Equity Research
Liberum
Invinity’s update on discussions with strategic investors reveals interest from multiple parties. While this has slightly delayed finalising an agreement it increases the potential for a better outcome. Although details are unknown at this stage, we think there is enough in the statement to be comfortable that any agreements will be consistent with the company’s strategy of growing market share in core markets and using a licencing and royalty model in other markets.
Companies: Invinity Energy Systems PLC
Longspur Clean Energy
Severfield’s full-year results to March will be ‘slightly above’ the Board’s expectations, according to today’s trading update, with net debt significantly better. We maintain our PBT estimates for both forecast years, which are ahead of consensus, but reduce our net debt for FY24E. Record orders were boosted by the steel specialist’s European operations, after last year’s Voortman acquisition, while the Indian JV has seen ‘another step up in profitability’. The group has also launched its first
Companies: ATOME PLC
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