Diesel engine manufacturer Cummins Inc. (CMI) reported decreased earnings for the third quarter Wednesday.
The Columbus, IN based company reported Q3 earnings of $352 million, or $1.86 a share, down from last years reported earnings of $452 million, or $2.35 a share. Quarterly earnings matched analysts expectations of $1.86 a share.
Revenue for the quarter came in at $4.1 billion, a 11% decline from last years revenue of $4.63 billion. Revenue was shy of analysts expectations of $4.15 billion.
The company expects full year revenues to be $17 billion for 2012.
Cummins shares were down $1.22, or -1.30% during premarket trading Wednesday.
Cummins Inc.(CMI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.