Cummins Inc. is projecting this year’s revenues to increase 12 to 17 percent
Cummins has released its 2022 fourth quarter and 2022 annual revenues report. The company found fourth quarter revenues were $631 million, or 13% higher than the same quarter in 2021.
Cummins, which operates the Jamestown Engine Plant in Busti, had $26.2 billion in revenues for 2022, which is 9% higher than in 2021
President and CEO Jennifer Rumsey reported the net income attributable to Cummins for the full year was $2.2 billion.
She said sales in North America increased 18% and international revenues decreased 2% compared to 2021, as strong demand across all global markets was partially offset by a market slowdown in China, as well as Russia, where operations have been suspended indefinitely.
Rumsey said in a statement, “In 2023, we anticipate that demand will remain strong in most of our key regions and markets, especially in the first half of the year. We will continue monitoring global economic indicators closely and ensure we are prepared should economic momentum slow further.”
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