Cummins Inc. Profit Declines 14% In Q2

(RTTNews) - Cummins Inc. (CMI) announced earnings for second quarter that lost ground from last year.

The company said its earnings declined to $406 million, or $2.40 per share. This was lower than $471 million, or $2.62 per share, in last year's second quarter.

Analysts had expected the company to earn $2.16 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.8% to $4.53 billion. This was down from $5.02 billion last year.

Cummins Inc. earnings at a glance:

-Earnings (Q2): $406 Mln. vs. $471 Mln. last year. -Earnings Decline (Y-o-Y): -13.8% -EPS (Q2): $2.40 vs. $2.62 last year. -EPS Decline (Y-o-Y): -8.4% -Analysts Estimate: $2.16 -Revenue (Q2): $4.53 Bln vs. $5.02 Bln last year. -Revenue Change (Y-o-Y): -9.8%