Cummins Sees Sequential Revenue Growth In Q3; Not To Provide FY View

(RTTNews) - Cummins Inc. (CMI), while reporting weak profit and revenues in its second quarter, said it currently expects third quarter revenues to improve from second quarter levels.

In pre-market activity on the NYSE, Cummins shares were trading at $198.05, up 3.7 percent.

The manufacturer of power solutions added that there remains significant uncertainty around how COVID-19 will impact end market demand as well as customer and supplier operations.

Due to this uncertainty, the company is not providing full year revenue or profitability guidance for 2020.

Chairman and CEO Tom Linebarger said, "While customer demand did improve in some regions as the quarter progressed, significant uncertainty around the pace of recovery in our markets remains, requiring a continued strong focus on managing expenses and cash flow."