Engine maker Cummins Inc. (NYSE: CMI) soundly thrashed estimates for its sales and profits in the second quarter, riding a rebound in demand as the Chinese economy bounced back from the coronavirus pandemic.
“Many of our [Chinese] facilities went from complete shutdown in February and March to producing record volumes in the second quarter,” CEO Tom Linebarger said in a statement.
Cummins’ earnings before interest, taxes, depreciation and amortization (EBITDA) was $549 million, or $1.86 per fully...
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