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Officials with Cummins Inc., a supplier of diesel engines and Onan generators to the RV industry, expect the firm’s financial performance to be better this year than originally expected “because of increased demand across all engine segments, particularly the North American heavy-duty truck market.”
The Columbus, Ind. company also sees “improved performance in Cummins Power Generation Business and continued strength in key international markets such as China and India.”
Cummins, a New York Stock Exchange-listed company with 42.9 million shares outstanding, now expects tp earn $27.9 million to $32.2 million during the first quarter. Originally, it anticipated earning $17.2 million to $21.5 million during the first three months of this year.
Cummins will reveal its first quarter earnings report on April 22.
For the full year 2004, Cummins now estimates it will earn $171.6 million to $180.2 million. Earlier, the forecast was $137.3 million to $145.9 million this year.
However, according to a company statement, “While revenues are growing, the effect of rapid increases in commodity prices remains uncertain, notably the impact of steel pricing on the Filtration Business.”