Cummins recently announced its first-quarter 2020 results: In the first quarter of 2020, Cummins ’revenue was US $ 5 billion, down 17% from the same period in 2019. The company said the decline in North American truck production and the weak demand in the global construction, mining and power generation markets have caused most of its revenue to fall.
From a regional perspective, sales in North America fell by 16%, while international revenue fell by 17%, mainly due to the decline in sales in Europe, Asia Pacific, Latin America, India and China.
In terms of business units, the sales of the engine division were $ 2.2 billion, down 19% from the same period in 2019. Cummins said that the revenue from the highway business fell by 17% and the revenue from the off-road business decreased by 23%, mainly due to the decrease in demand in the global truck and construction market. Sales in the distribution department fell 9% to $ 1.8 billion. Revenue in North America fell by 11%, and international sales fell by 6%. Sales in the components division fell 19% from 2019 to US $ 1.5 billion. Cummins said that revenue in North America fell by 24% and international sales fell by 12%, all due to weak global truck demand. Sales of the powertrain division were $ 884 million, down 18%. Revenue from the power generation business decreased by 8%, while revenue from the industrial business decreased by 30%. The sales of the New Power Division were $ 10 million.
Chairman and Chief Executive Officer Tom Linebarger said: “With the support of our employees’ commitment to serving our customers and the cost reduction actions we initiated in the second half of 2019, we achieved in the first quarter Has shown strong profitability, "he added:" In an unprecedented global pneumonia epidemic, the health and safety of our employees and the communities in which we live are our top priority. Our team is working hard to support the global economy and use our Flexibility and a strong supplier network to help our customers provide basic products and support response work.
