Cummins Inc.

Split-off gain masks some cracks in Cummins’ financial armor

Cummins Inc. recorded a massive one-time gain from the split-off of its filtration business. But first-quarter revenue dropped as weakening business conditions impacted the engine maker and power distribution giant.

The Tier 1 supplier of truck engines and power systems for data centers and other businesses reported Q1 revenue of $8.4 billion. That was down 1% from a year ago. The number missed analyst estimates by $50 million. Sales in North America were flat. International revenues fell 1% due...

https://www.freightwaves.com/news/split-off-gain-masks-some-cracks-in-cummins-financial-armor

Will natural gas payback beat EV adoption?

The confluence of a new, bigger engine, net-zero carbon emissions from renewable natural gas (RNG) and pressure from shippers for their carriers to operate sustainably add up to a bright picture for natural gas adoption.

But a new study from the North American Council for Freight Efficiency (NACFE) points to a couple of cautions. First is methane leakage from the source of the RNG. Methane escaping into the atmosphere is a huge contributor to planet-warming greenhouse gas.

Second, and most...

https://www.freightwaves.com/news/will-natural-gas-payback-beat-ev-adoption

Cummins CEO moves company forward after record civil emissions fine

COLUMBUS, Ind. — Cummins Inc. CEO Jennifer Rumsey is moving the engine-maker and power distribution company forward after paying a record civil fine for emissions cheating that she said brought some over-the-top federal criticism.

Cummins in December settled a 4 ½-year-old case by paying a civil fine of $1.675 billion to the Environmental Protection Agency. About 1 million engines in Ram pickup trucks — Cummins’ biggest-selling engine program — contained data-defeating emissions software. The...

https://www.freightwaves.com/news/cummins-ceo-moves-company-forward-after-record-civil-emissions-fine

Can Karno technology generate a buyer for Hyliion?

Unwinding the powertrain business at Hyliion Holdings was uncomfortable, especially for 175 employees who lost their jobs in November. But the leaned-out startup is making some progress in its pivot to energy distribution through a fuel-agnostic power generator.

Whether the plan is sufficient to generate revenue and perhaps attract a buyer for the once high-flying special purpose acquisition company are the big unknowns.

The Karno generator, which Hyliion purchased from GE in August 2022 for its...

https://www.freightwaves.com/news/can-karno-technology-generate-a-buyer-for-hyliion

Emissions-rigging fine takes huge bite from Cummins’ Q4 earnings

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An emissions-rigging settlement wiped nearly $14 per share from fourth-quarter profits at Cummins...

https://www.freightwaves.com/news/emissions-rigging-fine-takes-huge-bite-from-cummins-q4-earnings

Megawatt grants electrify truck charging corridors

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Startup electric truck infrastructure developer WattEV won’t say how much money it has raised from...

https://www.freightwaves.com/news/megawatt-grants-electrify-truck-charging-corridors

Cummins will pay California $175M over emission-rigged engines

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Cummins Inc. will pay $175 million to California over emissions-rigging of Ram truck diesel engines....

https://www.freightwaves.com/news/cummins-will-pay-california-175m-over-emission-rigged-engines

Electrolyzers only scratch the surface of midcentury hydrogen demand

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Even as manufacturing of electrolyzers grows, the hydrogen-making devices barely address the...

https://www.freightwaves.com/news/electrolyzers-only-scratch-the-surface-of-midcentury-hydrogen-demand

Cummins ups full-year revenue estimate but expects Q4 slowdown

Engine and power systems maker Cummins Inc. reported higher third-quarter sales across all segments and raised its full-year revenue estimate despite softening business conditions expected in Q4.

Cummins reported Q3 revenues of $8.4 billion, 15% ahead of the same quarter a year ago. It beat the $8.1 billion consensus of analysts surveyed by investor site Seeking Alpha. Five percent of the total sales increase resulted from the $3.7 billion acquisition of Meritor Inc. that closed in August 2022,...

https://www.freightwaves.com/news/cummins-ups-full-year-revenue-estimate-but-expects-q4-slowdown

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