Cummins Inc. Reports 11% Drop In Q3 Profit

(RTTNews) - Cummins Inc. (CMI) reported earnings for third quarter that declined compared to the same period last year.

The company said its earnings came in at $339 million, or $2.02 per share. This was lower than $380 million, or $2.14 per share, in last year's third quarter.

Analysts had expected the company to earn $1.96 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.3% to $4.19 billion. This was down from $4.62 billion last year.

Cummins Inc. earnings at a glance:

-Earnings (Q3): $339 Mln. vs. $380 Mln. last year. -Earnings Decline (Y-o-Y): -10.8% -EPS (Q3): $2.02 vs. $2.14 last year. -EPS Decline (Y-o-Y): -5.6% -Analysts Estimate: $1.96 -Revenue (Q3): $4.19 Bln vs. $4.62 Bln last year. -Revenue Change (Y-o-Y): -9.3%