Cummins achieves new record high in 2017

Cummins achieves new record high in 2017
The annual sales income was US$20.4 billion, an increase of 17%, and the EBIT margin was 12%.
Cummins Inc. (NYSE:CMI) announced its fourth-quarter and full-year performance for 2017 on February 6 local time.
Thanks to strong demand from the truck, construction machinery and mining markets, Cummins' sales revenue reached US$5.5 billion in the fourth quarter, and both North American and international markets achieved a 22% year-on-year growth.
2017 Cummins's annual sales revenue was US$20.4 billion, an increase of 17% year-on-year. Sales revenue from the North American market and the international market increased by 15% and 19% respectively.
Cummins achieved a pre-tax income of US$2.4 billion in 2017 and a pre-tax yield of 12%. If the cost factor under tax reform is deducted, the EBIT yield is 12.2%. Compared with 2016 (earnings before interest and taxes, $2 billion, and EBIT of 11.4%), there has been a noticeable increase.
Cummins' net income for the full year 2017 was US$999 million (dilutive EPS of US$5.97). For the full year of 2016, the net income was 1.4 billion U.S. dollars and the diluted earnings per share was 8.23 ​​U.S. dollars. Excluding the $7.77 billion in expenditures under the tax reform, net income for the entire year was $1.8 billion (dilution of $10.62 per share), and the annual tax rate was 24.5%.

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