Company profile

Ticker
CMI
Exchange
Website
CEO
Norman Thomas Linebarger
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Cummins Engine Co Inc
SEC CIK
IRS number
350257090

CMI stock data

(
)

Calendar

28 Apr 20
4 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 5.01B 5.58B 5.77B 6.22B
Net income 511M 300M 622M 675M
Diluted EPS 3.41 1.97 3.97 4.27
Net profit margin 10.20% 5.38% 10.78% 10.85%
Operating income 634M 354M 699M 848M
Net change in cash 562M -431M 163M 69M
Cash on hand 1.69B 1.13B 1.56B 1.4B
Cost of revenue 3.72B 4.27B 4.27B 4.58B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 23.57B 23.77B 20.43B 17.51B
Net income 2.26B 2.14B 999M 1.39B
Diluted EPS 14.48 13.15 5.97 8.23
Net profit margin 9.59% 9.01% 4.89% 7.96%
Operating income 2.7B 2.79B 2.33B 1.88B
Net change in cash -174M -66M 249M -591M
Cash on hand 1.13B 1.3B 1.37B 1.12B
Cost of revenue 17.59B 18.03B 15.33B 13.05B

Financial data from Cummins earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jun 20 Donald G Jackson Stock Option (Right-to-Buy) Common Grant Aquire A No 169.83 270 45.85K 270
12 May 20 Miller William I Common Stock Grant Aquire A No 0 982 0 46,544.391
12 May 20 Quintos Karen H Common Stock Grant Aquire A No 0 982 0 3,820.288
12 May 20 Nelson Georgia R Common Stock Grant Aquire A No 0 982 0 21,702.649
12 May 20 LYNCH Thomas J Common Stock Grant Aquire A No 0 982 0 8,207
80.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 952 1069 -10.9%
Opened positions 75 148 -49.3%
Closed positions 192 76 +152.6%
Increased positions 321 339 -5.3%
Reduced positions 419 427 -1.9%
13F shares
Current Prev Q Change
Total value 200.04B 268.93B -25.6%
Total shares 119.3M 123.38M -3.3%
Total puts 1.9M 1.94M -2.1%
Total calls 1.77M 1.9M -6.7%
Total put/call ratio 1.1 1.0 +4.9%
Largest owners
Shares Value Change
Vanguard 12.91M $1.75B +2.6%
BLK BlackRock 12.59M $1.7B +1.9%
STT State Street 7.19M $973.53M +1.4%
LSV Asset Management 3.31M $447.74M -6.2%
Hotchkis & Wiley Capital Management 3.13M $423.88M +13.1%
AMP Ameriprise Financial 2.92M $395.19M +4.7%
American Century Companies 2.91M $393.83M +2.1%
Geode Capital Management 2.86M $386.9M +3.2%
NTRS Northern Trust 2.34M $316.81M -0.1%
First Eagle Investment Management 2.2M $297.9M +17.6%
Largest transactions
Shares Bought/sold Change
Boston Partners 2.05M +2.05M +13692906.7%
Norges Bank 0 -1.68M EXIT
Aqr Capital Management 1.26M -763.85K -37.7%
APG Asset Management 386.18K -755.37K -66.2%
N Price T Rowe Associates 1.89M +491.82K +35.1%
Lord, Abbett & Co. 712.08K -483.09K -40.4%
Citadel Advisors 0 -452.97K EXIT
WFC Wells Fargo & Co. 1.88M +446.11K +31.2%
Capital International Investors 417.3K +417.3K NEW
Hotchkis & Wiley Capital Management 3.13M +362.8K +13.1%

Financial report summary

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Risks
  • A sustained market slowdown due to the impacts from the COVID-19 pandemic, other public health crises, epidemics or pandemics or otherwise, could have a material and adverse effect on our results of operations, financial condition and cash flows.
  • Our manufacturing and supply chain abilities may be materially and adversely impacted by an extended shutdown or disruption of our operations due to the COVID-19 pandemic which could materially and adversely affect our results of operations, financial condition and cash flows.
  • We are vulnerable to supply shortages from single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic, and any delay in receiving critical supplies could have a material adverse effect on our results of operations, financial condition and cash flows.
  • We face the challenge of accurately aligning our capacity with our demand.
  • Financial distress, particularly related to the COVID-19 pandemic, or a change-in-control of one of our large truck OEM customers could have a material adverse impact on our results of operations, financial condition and cash flows.
  • We are conducting a formal internal review of our emission certification process and compliance with emission standards with respect to our pick-up truck applications and working with the EPA and CARB, as well as the Department of Justice (DOJ) and SEC, to address their questions about these applications. The results of this formal review and regulatory and government agency processes, or the discovery of any noncompliance issues, could have a material adverse impact on our results of operations and cash flows.
  • The COVID-19 pandemic created disruptions and turmoil in global credit and financial markets and the ongoing impacts could have a material adverse effect on our results of operations, financial condition and cash flows.
  • Government actions to stabilize credit markets and financial institutions or other industries may not be effective.
  • Our products are subject to recall for performance or safety-related issues.
  • We operate our business on a global basis and policy changes affecting international trade could adversely impact the demand for our products and our competitive position.
  • A slowdown in infrastructure development and/or depressed commodity prices could adversely affect our business.
  • The U.K.’s exit from the European Union (EU) could materially and adversely impact our results of operations, financial condition and cash flows.
  • We may be adversely impacted by work stoppages and other labor matters.
  • We rely on our executive leadership team and other key personnel.
  • Lower-than-anticipated market acceptance of our new or existing products or services, including reductions in demand for diesel engines, could have a material adverse impact on our results of operations, financial condition and cash flows.
  • Our truck manufacturers and OEM customers may discontinue outsourcing their engine supply needs.
  • Our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures may expose us to additional costs and risks.
  • Our information technology systems and our products are exposed to potential security breaches or other disruptions which may adversely impact our competitive position, reputation, results of operations, financial condition and cash flows.
  • We may fail to realize all of the expected enhanced revenue, earnings and cash flow from our investment in the Eaton Cummins Automated Transmission Technologies joint venture.
  • We are exposed to political, economic and other risks that arise from operating a multinational business.
  • We face significant competition in the markets we serve.
  • Increasing global competition among our customers may affect our existing customer relationships and restrict our ability to benefit from some of our customers' growth.
  • We are subject to foreign currency exchange rate and other related risks.
  • Our products are exposed to variability in material and commodity costs.
  • We derive significant earnings from investees that we do not directly control, with more than 50 percent of these earnings from our China-based investees.
  • Unanticipated changes in our effective tax rate, the adoption of new tax legislation or exposure to additional income tax liabilities could adversely affect our profitability.
  • Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.
  • Our business is exposed to potential product liability claims.
  • Our operations are subject to increasingly stringent environmental laws and regulations.
  • Significant declines in future financial and stock market conditions, particularly those related to the sustained slowdown of the global economy due to the COVID-19 pandemic, could diminish our pension plan asset performance and adversely impact our results of operations, financial condition and cash flow.
  • Future bans or limitations on the use of diesel-powered vehicles or other applications could have a material adverse impact on our business over the long term.
  • We are exposed to risks arising from the price and availability of energy.
Management Discussion
  • ITEM 7.    Management's Discussion and Analysis of Financial Condition and Results of Operations
  • We are a global power leader that designs, manufactures, distributes and services diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. We sell our products to original equipment manufacturers (OEMs), distributors, dealers and other customers worldwide. We have long-standing relationships with many of the leading manufacturers in the markets we serve, including PACCAR Inc, Navistar International Corporation, Daimler Trucks North America and Fiat Chrysler Automobiles (Chrysler). We serve our customers through a network of approximately 600 wholly-owned, joint venture and independent distributor locations and over 7,600 Cummins certified dealer locations in more than 190 countries and territories.
  • In November 2019, we renamed our Electrified Power segment as "New Power" in order to better represent the incorporation of fuel cell and hydrogen production technologies resulting from our acquisition of Hydrogenics Corporation. The New Power segment includes our electrified power, fuel cell and hydrogen production technologies.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
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Patents

APP
Utility
Intake Bypass Flow Management Systems and Methods
2 Jul 20
Filtration systems having a normal filtration mode and an enhanced filtration mode are described.
APP
Utility
Torque Deration In Response Traction Control Events
2 Jul 20
A method, apparatus, and system are disclosed for incrementally derating a torque applied by a drivetrain in response a number of traction control events detected by a traction control system over a predetermined time period.
APP
Utility
Switching Tappet or a Roller Finger Follower for Compression Release Braking
2 Jul 20
A system includes an engine with a plurality of pistons housed in respective ones of a plurality of cylinders, an air intake system provides air to the plurality of cylinders through respective ones of a plurality of intake valves, an exhaust system to release exhaust gas from the plurality of cylinders through one of a plurality of exhaust valves, and a controller coupled to a sensor to control a switching tappet for compression release braking.
GRANT
Utility
Eccentric hydraulic lash adjuster for use with compression release brake
30 Jun 20
A valve train assembly (16) includes a fuel injector (1), an intake rocker lever assembly (10), and an exhaust rocker lever assembly (14).
GRANT
Utility
Resonant mixers for reducing reductant deposits
30 Jun 20
An aftertreatment system includes: a selective catalytic reduction system including at least one catalyst for decomposing constituents of an exhaust gas produced by an engine, the exhaust gas having a pressure pulsation frequency; an exhaust conduit fluidly coupled to the selective catalytic reduction system and structured to deliver the exhaust gas to the selective catalytic reduction system from the engine; at least one mixer positioned in the exhaust conduit; and a reductant insertion assembly fluidly coupled to the exhaust conduit and structured to insert a reductant into the exhaust conduit upstream of the at least one mixer.