> SUBSCRIBE FOR FREE! 

                                                             Engine manufacturer Cummins Inc. said second-quarter profit rose 5.6% as demand in North American markets and the benefit of acquisitions offset weakness in Brazil and other foreign markets.

The Wall Street Journal reported that shares, which have declined nearly 10% in the past three months, rose 4% in premarket trading to $128.75 as both profit and revenue topped analysts’ expectations.

The Indiana company backed its outlook for the year, still projecting 2% to 4% revenue growth. That translates to $19.61 billion to $19.99 billion, bracketing the $19.81 billion analysts predict. The affirmed guidance comes despite weak economic conditions in key foreign markets and a stronger U.S. dollar that also is pressuring Cummins’ revenue.

For the latest period, Cummins reported earnings of $471 million, or $2.62 a share, up from a year-earlier profit of $446 million, or $2.43 a share.

Revenue grew 3.7% to $5.02 billion. Adverse foreign exchange shaved 4% off the top line, the company said.

Cummins’s engine segment, its largest, reported a 2% increase in sales as strong demand in North American truck and bus markets countered weaker demand in global industrial markets and lower truck demand in Brazil.

For the full report click here.