Cummins Inc. posted record Q1 sales, extending a yearlong streak of outperforming analyst forecasts. It missed on income in part because of a $158 million write-off for indefinitely suspending business in Russia.
Cummins, rapidly transforming to multiple forms of alternative power production, said business in North America improved by 12%. That was partly due to higher prices charged to offset the increased costs of materials. Overseas revenue declined 3%. The decline was confined to China,...
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