Meritor Inc..

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

Cummins reports higher Q2 sales and income

Engine maker and power systems provider Cummins Inc. reported record second-quarter revenue thanks to the full integration of Meritor Inc. But a key earnings measure fell because Meritor’s gross margin percentage trails its new parent.

By the numbers, Cummins reported:

  • Record second-quarter revenues of $8.6 billion with all five business segments reporting higher sales. Year-ago sales were $6.59 billion..
  • Net income of $720 million, or $5.05 per diluted share, compared with $702 million, or...

https://www.freightwaves.com/news/cummins-reports-higher-q2-sales-and-income

Cummins posts record 2022 results as it integrates Meritor business

Cummins Inc. posted strong fourth-quarter results and it set records in several financial metrics in 2022 as the engine maker integrated billions of dollars of acquisitions including taking over Meritor Inc.

Revenue of $7.8 billion in the last three months of 2022 was 32.2% above Q4 of 2021. It topped analyst estimates by $590 million, according to investor site Seeking Alpha.

Not counting the Meritor business and related integration costs, net income for the quarter was $644 million, or $4.52...

https://www.freightwaves.com/news/cummins-posts-record-2022-results-as-it-integrates-meritor-business

Cummins trabaja con Hyliion en la certificación de un motor de gas natural 

Side view of green Hyliion Hypertruck ERX

Cummins Inc, cuyo tamaño y recursos amenazaban la supervivencia del fabricante de trenes motrices híbridos Hyliion Holdings, se asociará con la startup para certificar su motor de gas natural de 12 litros para el Hypertruck ERX, dijeron las compañías el martes. 

La colaboración es un gran negocio para Hyliion, que salió a bolsa a través de SPAC en octubre de 2020. El precio de sus acciones superó los 55 dólares por acción antes de la combinación de negocios con el patrocinador Tortoise...

https://www.freightwaves.com/news/cummins-trabaja-con-hyliion-en-la-certificacion-de-un-motor-de-gas-natural

Cummins working with Hyliion on certifying natural gas engine

Side view of green Hyliion Hypertruck ERX

Cummins Inc., whose size and resources threatened the survival of hybrid powertrain maker Hyliion Holdings, will partner with the startup to certify its 12-liter natural gas engine for the Hypertruck ERX, the companies said Tuesday.

The collaboration is a big deal for Hyliion, which went public via SPAC in October 2020. Its stock price topped $55 a share before the business combination with sponsor Tortoise Acquisition Corp. Like most transportation SPACs, it’s share price is under pressure. But...

https://www.freightwaves.com/news/cummins-working-with-hyliion-on-certifying-natural-gas-engine

Truck Tech: Who needs infrastructure edition

Blue Truck Tech logo

Don’t tell the companies installing electric truck infrastructure that it may not be so critical after all. California-based startup Booster is using IoT and digitization to modernize the role of fuel jobber. Speaking of infrastructure, is battery swapping due for a comeback?  

Do we really need fixed infrastructure?

Must battery-powered electric trucks have a fully developed high-speed electric infrastructure to keep them moving? What if that infrastructure were mobile? Think chargers on wheels...

https://www.freightwaves.com/news/truck-tech-who-needs-infrastructure-edition

Meritor buying Siemens electric propulsion business

Deep blue illustration of Siemens -imagine electric truck and bus

Even as its $3.7 billion merger with Cummins Inc. proceeds, Meritor Inc. said Friday it has agreed to purchase the Siemens Commercial Vehicles electric propulsion business. The move would bulk up its electrification portfolio.

The battle among players in commercial vehicle electrification is growing fierce. Tier 1 suppliers like BorgWarner Inc., Dana Inc., Eaton Corp. and Cummins are jockeying for market share in fully integrated systems to meet the expected growth in electric trucks.

“The...

https://www.freightwaves.com/news/meritor-buying-siemens-electric-propulsion-business

Cummins reports record Q1 sales but misses on earnings

Red Cummins engines on production line

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,...

https://www.freightwaves.com/news/cummins-reports-record-q1-sales-but-misses-on-earnings

Cummins files confidential registration to take filtration unit public

Cummins signage outside headquarters

Cummins Inc. has filed a confidential registration to sell shares in its filtration business through an initial public offering as it focuses on its pending $3.7 billion purchase of Meritor Inc.

The spinoff of the $1.2 billion filtration business into a separate company became public as part of the second-quarter 2021 earnings report. The filtration business dates to 1958. It offers products for on-highway, heavy-, medium- and light-duty trucks, off-highway industrial equipment, and power...

https://www.freightwaves.com/news/cummins-files-confidential-registration-to-take-filtration-unit-public

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