Cummins Inc. Profit Rises In Q1, Beats estimates

(RTTNews) - Cummins Inc. (CMI) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.993 billion, or $14.03 per share. This compares with $790 million, or $5.55 per share, in last year's first quarter.

Analysts on average had expected the company to earn $5.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $8.403 billion from $8.453 billion last year.

Cummins Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.993 Bln. vs. $790 Mln. last year. -EPS (Q1): $14.03 vs. $5.55 last year. -Revenue (Q1): $8.403 Bln vs. $8.453 Bln last year.

-Guidance: Full year revenue guidance: To decline 2% to 5%