Cummins Inc. Q1 Income Falls, misses estimates

(RTTNews) - Cummins Inc. (CMI) released a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $418 million, or $2.92 per share. This compares with $603 million, or $4.07 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.9% to $6.39 billion from $6.09 billion last year.

Cummins Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $418 Mln. vs. $603 Mln. last year. -EPS (Q1): $2.92 vs. $4.07 last year. -Analyst Estimates: $3.56 -Revenue (Q1): $6.39 Bln vs. $6.09 Bln last year.