Cummins Inc

CMI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$595.00	Ptjfnw	Bjslxfzgv

Cummins Earnings: Demand for Engines in Heavy-Duty Trucks Leads to Solid Results

Dawit Woldemariam

May 3, 2023

Cummins reported a solid start to 2023, largely due to solid demand for heavy-duty truck engines in North America. Engines sales for heavy-duty trucks came in at $1.1 billion in the quarter, increasing 23% year on year. A key driver here is elevated fleet ages, which is spurring many fleet owners to buy new trucks. Strong aftermarket demand was another catalyst to sales growth. Overall, the engine business grew sales by 8% year on year, landing at nearly $3 billion.

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