Recently, it was learned from engine manufacturer Cummins Inc. (CMI) that Cummins’ profit in the fourth quarter of 2009 had surged more than 5 times, mainly due to the demand from emerging markets such as China, India and Brazil, plus the new emission standards in early 2010. In the past, the demand for engines and parts for highway trucks in North America increased significantly.
However, analysts said that Cummins will be challenging in the first half of fiscal 2010, especially in the United States and Europe.
Based on the existing orders and the forecast for the first half of 2010, Cummins expects that the shipments of truck and bus engines in North America in the first half of 2010 will be up to 80% lower than the corresponding period in 2009.
In fiscal 2009, Cummins’ net profit fell from US$755 million in 2008 to US$428 million. Annual revenue declined 25% to $10.8 billion.
Analysts expect that Cummins’ revenue and earnings for fiscal 2010 will be approximately the same as for fiscal 2009.
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