Cummins Reports Lower Q3 Earnings; Misses Expectations (CMI)

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 DARS™ Rating of 3.3 out of 5 stars.

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