Cummins Inc. (CMI) reported second quarter EPS of $2.43 Monday morning, compared to $2.20 in the previous year. Analysts expected EPS of $2.38. Net sales improved 7 percent to $4.835 billion from $4.525 billion last year. The consensus estimate was for revenues of $4.83 billion.
Cummins expects full year 2014 revenues to grow between 8 and 11 percent, up from its previous forecast of growth in the range of 6 to 10 percent.
Cummins gapped open lower Monday and is now down 5.04 at $145.11 in early trade. The stock has dropped to a 3-month low.
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